SpaceX prepares to start trading on Friday following completion of the biggest initial public offering ever, signaling the much anticipated entry of Elon Musk's rocket and satellite firm onto Wall Street.

SpaceX set its share price at $135 on Thursday, securing $75 billion to support bold initiatives such as creating a human settlement on Mars and placing solar powered data centers into orbit.

Trading commences once the Nasdaq Stock Exchange opens at 9:30 a.m. ET using the ticker symbol SPCX.

This deal elevates SpaceX past all prior global IPOs and tops the previous benchmark set by Saudi Aramco, which collected nearly $26 billion when the Saudi state oil firm listed in 2019, according to Renaissance Capital.

Investor demand proved robust, as Bloomberg noted Thursday that retail orders exceeded $100 billion. Buyers also obtain stakes in operations outside launch services because SpaceX controls Musk's artificial intelligence venture xAI together with the Starlink satellite broadband unit.

The listing values SpaceX at $1.77 trillion and places the Texas manufacturer among the highest ranked companies on Wall Street. It follows Nvidia, currently the largest by market capitalization at about $5 trillion per FactSet, along with several additional technology leaders.

Despite the elevated valuation, SpaceX trails leading technology firms in revenue and earnings, noted Jay Ritter, an IPO specialist and professor at the University of Florida Warrington College of Business. The unprofitable company reported $18.7 billion in revenue for the prior year, well below Alphabet's $400 billion in 2025 sales.

Alphabet, Apple and Nvidia each generate more than $100 billion in annual after tax profits, Ritter observed before the IPO. Considerable progress remains before matching the earnings power of those large capitalization leaders.

The offering elevates SpaceX chief Elon Musk, already the planet's wealthiest individual, to trillionaire status on paper. Musk holds 4.8 billion shares representing roughly 42 percent ownership plus 350 million stock options listed in the filing. Retaining 82.4 percent of voting rights allows him to maintain firm influence over company direction.

SpaceX shares are slated for inclusion in the Nasdaq 100 and Russell indexes within days, potentially opening ownership to additional investors including those in 401(k) accounts.

After filing confidentially for the IPO in April, SpaceX highlighted a market opportunity exceeding $28 trillion across its operating sectors.

Ninety percent of that figure stems from xAI alone, per analysis from Van Ha Trinh, a financial markets specialist at broker Exness, underscoring the company's view that artificial intelligence will drive expansion.