COO Gwynne Shotwell had her doubts about an IPO
SpaceX President and COO Gwynne Shotwell told CNBC’s Morgan Brennan that she “wasn’t sure we would go public.”
“Today, across SpaceX’s various businesses, the building blocks of a publicly traded company are now in place,” she said in an exclusive interview.
Shotwell is the company’s top executive underneath Musk.
“I do not want to focus on quarterly earnings,” she told Brennan. “I’m not saying we’re not going to do right by our investors, but what folks who invest in SpaceX need to know is that what we’re doing is very futuristic.”
—Chris Eudaily
How many shares are being sold and what is the market cap
SpaceX is offering 555,555,555 shares of Class A common stock in the IPO. At the $135 per share set price, the offering raised $75 billion.
There is an overallotment of 83,333,333 Class A shares available to underwriters for up to 30 days after the June 3 S-1A.
Without the overallotment, there are 13,075,865,175 Class A and B shares available immediately, which puts the SpaceX market cap at $1.77 billion.
Should the overallotment be exercised, those would add to the total Class A and B shares and increase the market cap accordingly.
—Chris Eudaily
SpaceX buzz builds on WallStreetBets
SpaceX Starship lifts off from Starbase in Boca Chica, Texas, for its sixth flight test on November 19, 2024.
Chandan Khanna | Afp | Getty Images
SpaceX has been a hot topic on Reddit’s WallStreetBets, the discussion forum that became synonymous with the meme stock craze.
The rocket startup has been mentioned more than 1,600 times on the platform since Monday, according to data shared with CNBC by meme stock tracker Breakout Point. Those numbers have made it one of the most-discussed companies on WallStreetBets in the days leading up to the IPO, Breakout Point’s data shows.
—Alex Harring
SpaceX spends more than it makes, even with Starlink as its cash cow
According to IPO filings, the company has racked up a deficit of around $41.3 billion since it was founded in 2002.
It has already spent more than $15 billion to develop its massive, Starship rocket, which it intends to be fully re-usable in the future. Starship is also meant to bring NASA astronauts back to the surface of the moon, and eventually to Mars.
SpaceX said in its prospectus that its connectivity unit, primarily comprised of Starlink, generated $11.39 billion in 2025, accounting for 61% of total sales. In the first quarter of this year, it climbed to 69% of total sales.
The company cautioned investors in its prospectus about its history of net losses, and that it may not achieve profitability in the future. It lost $4.9 billion last year, and $4.28 billion in the first quarter of 2026, alone with both capital and operating expenses expected to increase as it spends heavily on Starship and AI initiatives.
—Lora Kolodny
What SpaceX will use the funding for
A SpaceX Starship spacecraft rolls out toward its launch pad past the Starbase Manufacturing Facility before its 10th test flight from the company’s complex in Starbase, Texas, U.S., August 23, 2025.
Steve Nesius | Reuters
The capital raised in the IPO is expected to fund the further development of SpaceX’s massive Starship rockets, which are currently in a test flight phase and are not yet fully re-usable.
The company will also use the funding for future AI products and infrastructure, including a chip factory known as Terafab that SpaceX will build with Tesla and Intel in Texas.
—Lora Kolodny
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