SpaceX IPO and Semiconductor Rotation Test Market Rally

SpaceX plans to raise $75 billion in an initial public offering (IPO) that would value the company at approximately $1.77 trillion, according to CNN. The offering, which targets a share price of $135, would be the largest in history, significantly surpassing the 2019 Saudi Aramco debut.

How much is the SpaceX IPO worth?

According to a filing with the Securities and Exchange Commission reported by CNN on June 3, 2026, SpaceX intends to sell 555.6 million shares. The company has set a specific initial price of $135 per share rather than providing a typical price range.

This pricing structure targets a total raise of $75 billion. The resulting valuation of roughly $1.77 trillion would make it the most expensive public offering ever recorded.

For comparison, the previous record for the largest public offering was held by Saudi Aramco, which raised $29.4 billion in 2019, according to CNN.

How much control will Elon Musk retain?

Elon Musk currently owns half of SpaceX. Following the IPO, Musk would still control nearly half of the company’s total shares, according to the SEC filing cited by CNN.

Musk’s influence extends beyond simple equity. The filing indicates he will control 82.4% of the voting power after the IPO through the use of special shares with greater voting rights.

CNN reports that this financial event could potentially make Musk the first trillionaire in the world.

Why is the IPO impacting broader tech markets?

The scale of the SpaceX debut is creating volatility across global technology sectors. The Straits Times reports that “tech tremors” stemming from the IPO have affected Singapore tech stocks.

Investor’s Business Daily notes that the market is seeing a rotation out of semiconductor stocks, contributing to a drop in the SOX Index. This shift suggests that investors may be reallocating capital to accommodate the massive liquidity requirements of the SpaceX offering.

Market reactions have been mixed. While some investors are drawn to the valuation, Moomoo reports that some market participants view the IPO as overpriced, though SpaceX has remained firm on its $135 share price.

What happens next for the market rally?

The SpaceX IPO is being viewed by analysts as a critical juncture for the current market trend. Investor’s Business Daily characterizes the event as the market rally’s “first real test.”

The success or failure of a $1.77 trillion valuation will likely signal whether the current appetite for AI-linked and high-growth tech companies is sustainable. The decision to dictate a single price point reflects a high level of confidence in the “AI craze” currently driving the IPO market, according to CNN.