SpaceX conducted the largest IPO in history on June 12, raising $75 billion by selling 555.56 million shares at $135 each. The company briefly reached a market capitalization above $2 trillion on its first trading day, surpassing Tesla, Meta, and Amazon in market value. The massive offering triggered capital rotation away from the Magnificent 7, with the Roundhill Magnificent Seven ETF experiencing notable declines. SpaceX generated $18.67 billion in 2025 revenue while posting a net loss of $4.94 billion, with a price-to-revenue ratio exceeding 90x at IPO pricing.
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