--- title: "The largest IPO in American history is born! SpaceX lands on Nasdaq, opening up over 21% as speculation about a merger with Tesla heats up" type: "News" locale: "en" url: "https://longbridge.com/en/news/289619235.md" description: "SpaceX issued approximately 556 million shares at $135 per share, raising $75 billion and achieving a valuation of $1.77 trillion, making it the largest IPO in U.S. history, with an opening increase of over 21%. The market is focused on the potential integration with Tesla, with COO Shotwell stating that the two companies have synergies and aligned goals. While downplaying short-term merger expectations, she mentioned future acquisition plans, particularly in the AI sector" datetime: "2026-06-12T16:15:13.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/289619235.md) - [en](https://longbridge.com/en/news/289619235.md) - [zh-HK](https://longbridge.com/zh-HK/news/289619235.md) --- # The largest IPO in American history is born! SpaceX lands on Nasdaq, opening up over 21% as speculation about a merger with Tesla heats up According to Zhitong Finance APP, on Friday, Tesla (TSLA.US) CEO Elon Musk's SpaceX (SPCX.US) officially landed on Nasdaq, with the opening stock price rising over 11% to $150. The company's IPO issued approximately 556 million shares at $135 per share, raising $75 billion, corresponding to a valuation of about $1.77 trillion, making it the largest initial public offering in the history of the U.S. capital markets. On the first day of trading, the market's focus was not only on the record financing scale. With SpaceX officially entering the public market, investors began to turn their attention to another long-standing topic of discussion on Wall Street: the potential integration of Musk's two core assets, SpaceX and Tesla (TSLA.US), in the future. The rise in this discussion was sparked by a statement from Gwynne Shotwell, President and COO of SpaceX, during a media interview on the eve of the IPO. Shotwell stated that there is "no doubt about the synergies" between Tesla and SpaceX, and pointed out that the future goals both companies are striving for are gradually aligning. She jokingly remarked, "Merging the two companies might make Musk's life a little easier." Although Shotwell later downplayed the likelihood of a transaction occurring in the short term and emphasized that the company's current focus remains on rocket production, launch missions, the International Space Station project, and the global expansion of Starlink's internet business, her comments about synergies quickly attracted market attention. The speculation in the market was not only triggered by Shotwell's remarks. According to SpaceX's latest updated IPO documents, the company may issue "a large amount of equity" for potential acquisitions and strategic transactions in the future. Meanwhile, Shotwell also clearly stated that mergers and acquisitions will appear in the company's future development path, especially in the field of artificial intelligence. In the context of rapid expansion of AI infrastructure investment, many investors have begun to speculate that SpaceX may utilize its public company platform for larger-scale capital operations in the future. In Musk's vast business empire, the company that can create the greatest synergy with SpaceX is undoubtedly Tesla. In fact, there has long been a deep business connection between the two companies. According to information disclosed in the prospectus, Tesla currently holds a stake in SpaceX. The two companies are also jointly involved in an advanced chip manufacturing project called Terafab. At the same time, SpaceX has purchased approximately $131 million worth of Cybertruck electric pickups in 2025. Media data shows that since 2023, Tesla has sold approximately $890 million worth of cars, batteries, and energy products to SpaceX and its affiliated company xAI. As artificial intelligence becomes the new core of Musk's business empire, the strategic ties between the two companies are also continuously strengthening. Tesla is accelerating its transformation into an artificial intelligence and robotics company, while SpaceX is expanding its Starlink satellite internet network beyond commercial space operations and gradually entering the AI infrastructure and computing power market through the integration of xAI, Grok, and the social platform XThere is a clear divergence of opinions on Wall Street regarding the potential for future mergers. Dan Ives, an analyst at Wedbush Securities, is one of the strongest proponents. He previously stated that after SpaceX goes public, the probability of the two companies merging around 2027 is as high as 80% to 90%. Ives believes that if a merger occurs in the future, Tesla's autonomous driving data, robotics business, and large end-user base will complement SpaceX's satellite communication network, global internet coverage capabilities, and AI infrastructure, thereby building a complete ecosystem covering data, computing power, communication, and application layers. However, some institutions hold opposing views. Oppenheimer believes that keeping the two companies independently listed aligns better with Musk's long-term strategy. The firm points out that as AI infrastructure enters a high-investment phase, having multiple independent financing platforms can provide greater capital flexibility. Rather than a direct merger, it is more likely that the two will deepen cooperation in areas such as data centers, energy storage, servers, and AI infrastructure. In addition to strategic debates, there are also significant differences in market valuations of SpaceX itself. Morningstar released a report before the IPO stating that, according to its calculations, SpaceX's reasonable valuation is less than half of the IPO valuation. The firm believes that the company's forecasts for future market space in the prospectus are overly optimistic and points out that Starlink has become the company's most important source of revenue, but long-term growth potential is still limited by technological and market factors. U.S. Democratic Senator Elizabeth Warren also publicly criticized the SEC's approval of the IPO before it launched, stating that some analysts have described its financial forecasts as "unrealistic." However, the market's enthusiasm clearly outweighs these critical voices. It is reported that this IPO attracted over $350 billion in subscription demand, with institutional investors subscribing for more than $250 billion and retail investors exceeding $100 billion. At the same time, this IPO has also marked a moment of wealth elevation for many SpaceX employees. According to investment platform Hill.com, under a $1.77 trillion valuation, about 4,400 current and former employees will become millionaires, with around 400 holding shares worth over $100 million. Notably, Shotwell stated on Friday that more than half of the employees continued to increase their holdings in the company during the IPO process, with a total amount close to $1 billion. She said, "This shows that our employees still believe in the company's long-term future." For investors, as SPCX officially begins trading, a new question is emerging: Is SpaceX's IPO merely the beginning of capitalizing Musk's business empire, or is it the starting point for a larger-scale integration and expansion plan? ### Related Stocks - [SPCX.US](https://longbridge.com/en/quote/SPCX.US.md) - [TSLA.US](https://longbridge.com/en/quote/TSLA.US.md) - [TSL.US](https://longbridge.com/en/quote/TSL.US.md) - [TSLG.US](https://longbridge.com/en/quote/TSLG.US.md) - [TESL.US](https://longbridge.com/en/quote/TESL.US.md) - [TSLZ.US](https://longbridge.com/en/quote/TSLZ.US.md) - [07766.HK](https://longbridge.com/en/quote/07766.HK.md) - [TSLT.US](https://longbridge.com/en/quote/TSLT.US.md) - [TSLQ.US](https://longbridge.com/en/quote/TSLQ.US.md) - [TSLS.US](https://longbridge.com/en/quote/TSLS.US.md) - [TSLL.US](https://longbridge.com/en/quote/TSLL.US.md) - [TSLR.US](https://longbridge.com/en/quote/TSLR.US.md) - [TSDD.US](https://longbridge.com/en/quote/TSDD.US.md) - [TSLI.US](https://longbridge.com/en/quote/TSLI.US.md) - [TSLO.US](https://longbridge.com/en/quote/TSLO.US.md) - [TSLW.US](https://longbridge.com/en/quote/TSLW.US.md) - [TSLY.US](https://longbridge.com/en/quote/TSLY.US.md) - [TSYY.US](https://longbridge.com/en/quote/TSYY.US.md) - [TYYY.US](https://longbridge.com/en/quote/TYYY.US.md) - [CRSH.US](https://longbridge.com/en/quote/CRSH.US.md) - [SPCH.US](https://longbridge.com/en/quote/SPCH.US.md) - [SPCF.US](https://longbridge.com/en/quote/SPCF.US.md) - [SPAL.US](https://longbridge.com/en/quote/SPAL.US.md) - [SNK.US](https://longbridge.com/en/quote/SNK.US.md) - [SSPC.US](https://longbridge.com/en/quote/SSPC.US.md) - [SPCU.US](https://longbridge.com/en/quote/SPCU.US.md) - [OPY.US](https://longbridge.com/en/quote/OPY.US.md) - [MORN.US](https://longbridge.com/en/quote/MORN.US.md) ## Related News & Research - [Elon Musk Says SpaceX Could Put One Million Tons Of Payload In Orbit Within The Next Five Years](https://longbridge.com/en/news/289279226.md) - [SpaceX has left, but the money remains in California.](https://longbridge.com/en/news/289468865.md) - [ANALYSIS-Short-sellers to tread carefully as Musk's SpaceX debuts](https://longbridge.com/en/news/289169202.md) - [SpaceX Takes Page From Tesla, Launches Merch To Celebrate Ticker, IPO](https://longbridge.com/en/news/289632908.md) - [Rooting for Elon Musk and hope he's successful with SpaceX, says Vertiv's David Cote](https://longbridge.com/en/news/289629016.md)