SpaceX completed its first day of public trading on Nasdaq on June 12, 2026, with shares closing at $168.70, up from the $135 IPO price for a gain of roughly 25%. The stock opened at $150, more than 11% above the offer, and traded between $150.00 and $176.52 across the session. At the close, SpaceX's market capitalization stood near $1.77 trillion, confirming the deal as the largest IPO in history.
The prospectus disclosed a cumulative loss of $41.3 billion since the company's 2002 founding, and the February 2026 acquisition of xAI folded Grok, the X social network, and the Colossus data centers into the public entity. Polymarket traders had priced SpaceX to close above a $2 trillion market cap on day one — a threshold the stock did not reach — but the roughly 25% pop landed squarely in the "orderly debut" scenario analysts had described as the healthiest outcome for the broader AI IPO cycle.
The signal matters well beyond SpaceX. An open above $150 was widely read as the market endorsing premium multiples for loss-making AI infrastructure names. Wall Street moved fast to package retail exposure: at least 25 SPCX-linked ETFs were registered before shares began trading, more than half of them leveraged. MSCI also confirmed early index inclusion beginning June 13, layering structural passive demand on top of organic flows given the stock's thin 4% public float.
For Anthropic, targeting a Q4 2026 listing, and OpenAI, which recently filed its own confidential S-1, SPCX's debut is the first real-world test of investor appetite for premium-multiple AI infrastructure listings. A healthy but not euphoric first day suggests demand exists at the asked valuations without signaling a bubble — a green light, on the narrowest reading, for both companies to proceed on their current timelines.
Source: [CNBC](https://www.cnbc.com/2026/06/12/spacex-ipo-spcx-live-updates.html)