The countdown is over. SpaceX (SPCX) begins trading on the Nasdaq today at a fixed offer price of $135 per share, a roughly $1.77 trillion valuation, and the largest IPO in market history. Asia has already rallied sharply in anticipation, oil has tumbled on Iran de-escalation news, and Wall Street futures are firm. Here is what Indian traders need to know going into the debut.
Key Takeaway:
SpaceX (SPCX) lists on the Nasdaq today at $135 per share with a $1.77 trillion valuation, raising approximately $75 billion in the largest IPO ever recorded. Asia rallied overnight with the Kospi +7.8% and Nikkei +3.5% on news that President Trump called off planned Iran strikes. Oil dropped 4.75% to $83.54. US S&P 500 futures are up 0.38% and Nasdaq futures are up 0.27% into the open.
What Moved Wall Street Last Night
Thursday delivered a sharp relief rally. The S&P 500 closed 1.8% higher, the Nasdaq Composite added 2.5%, and the Dow extended its bounce, all on the back of President Trump calling off planned strikes against Iran and signaling that a peace deal could be reached as early as this weekend. Tech led the move, with chip names that had been hammered earlier in the week rebounding hard. The session combined two tailwinds that had been missing: geopolitical de-escalation and the imminent arrival of the largest IPO in history.
Among names listed on Global Futures, NVDA, AMD, MU, and INTC all closed sharply higher. Tesla (TSLA) led gains in mega-cap on Musk-related sentiment ahead of the SPCX debut. WTI crude fell 4.75% to $83.54 a barrel, the cleanest read on the de-escalation, while gold rose to $4,241 on a flight to quality position trade.
Asia Markets This Morning
Asia ran with the momentum. South Korea’s Kospi was the regional leader, jumping 7.8% to 8,370.82, with Samsung +11.2% and SK Hynix +7.2% as the AI chip selloff that defined early June reversed in a single session. Japan’s Nikkei 225 gained 3.5% to 66,442.95, led by SoftBank and tech names. India’s Sensex jumped nearly 1,000 points at the open.
The common thread is straightforward: the same peace-deal momentum that lifted US tech yesterday is now lifting risk assets across Asia, and the SpaceX debut later today is adding to the bullish setup. Indian traders are picking up the action this morning with the Nifty above 23,450 and energy stocks easing as oil falls.
Today’s Main Event: The SPCX Debut
The largest IPO in market history begins trading today. SpaceX (SPCX) priced at $135 per share, selling 555.5 million Class A common shares for a total raise of approximately $75 billion, implying a valuation of roughly $1.77 trillion. The offering closes on June 15. Underwriters led by Goldman Sachs hold a 30-day option to purchase up to an additional 83.3 million shares at the IPO price.
Two things to watch on the debut:
First, the spread. SpaceX is unprofitable at the headline level (a $5 billion operating loss in 2025 driven largely by AI development costs after the xAI absorption in February). Starlink is profitable and accounts for the majority of the $18.67 billion 2025 revenue. Analyst views are split: Oppenheimer initiated with Outperform and a 12-18 month price target of $190 (40% upside), New Street Research came out with a $165 target (22% upside), while Morningstar flagged fair value much lower at $63 per share. There is no set time for trading to begin; companies often wait some time after the regular open for price discovery.
Second, the secondary impact. A $1.77 trillion company entering the Nasdaq complex affects index weightings, ETF flows, and competing names. On the Global Futures platform, the names most likely to see correlated moves are TSLA (Musk’s other listed equity), NVDA and AMD (AI exposure), MSFT and ORCL (cloud and AI infrastructure), and PLTR and RKLB (space and defense adjacency).
Stocks in Focus
SpaceX (SPCX)
The debut. Watch the opening print versus $135. The pre-IPO grey market traded between $129 and $137 in early June, which is the closest analogue available for first-print expectations.
Tesla (TSLA)
Musk’s listed equity. Correlated sentiment moves are likely both on the SPCX debut and on Musk’s broader status, as the IPO settlement positions him to become the first individual to cross the trillion-dollar net worth threshold.
NVDA, AMD, MU
AI chip names continue to lead the broader tech bounce. The semis rally is now in its second day after Thursday’s reversal, and Asia confirmed the move with Samsung and SK Hynix gains overnight.
Oracle (ORCL)
After Wednesday’s after-hours selloff on the $40 billion fundraise plan, ORCL recovered some ground on Thursday. Watch whether the AI-spend narrative pivots back to bullish in today’s session as the broader AI complex moves higher.
PLTR, RKLB
Defense and space-adjacent names that may see correlated flows on the SpaceX news cycle. RKLB in particular is the closest publicly-listed direct competitor to SpaceX in launch services.
Index Levels Traders Are Watching
The Nasdaq Composite reclaimed the 25,500 to 25,800 zone in yesterday’s bounce. Today’s level to watch is whether the index can extend through 26,000 on debut-day volume, or whether the SpaceX listing absorbs liquidity and caps the move. A successful break of 26,000 with the SPCX listing well-supported would mark the cleanest bull setup since the early-June selloff began.
The S&P 500 sits around 7,417 after the Thursday gains. The 7,450 to 7,500 area is the next overhead level into the weekend. Levels are reference points for context, not entry or exit signals.
Bottom Line for Today
The largest IPO in market history arrives into one of the cleanest risk-on setups of the year. Asia is surging, oil is tumbling, US futures are positive, and the macro tailwind from Iran de-escalation is real. The day’s question is not whether SPCX opens above $135 (most expect it will), but how much liquidity the listing absorbs from the rest of the Nasdaq, and whether the broader index extends or consolidates after the four-day chip rally. Expect noise, expect volatility, and expect a tape that will be talked about for years.
Frequently Asked Questions
Q1. At what price did SpaceX (SPCX) start trading on Nasdaq today?
SpaceX priced its IPO at $135 per share. The first actual trade on the Nasdaq is set for sometime after the regular open on June 12, 2026, with no fixed start time. New listings typically open higher than the IPO price, and the pre-IPO grey market traded between $129 and $137 in early June.
Q2. What is SpaceX's valuation at the IPO price?
At $135 per share across 555.5 million Class A shares (plus the underwriter green-shoe option for up to 83.3 million additional shares), SpaceX is valued at approximately $1.77 trillion. The total raise is about $75 billion, making it the largest IPO ever recorded and surpassing Saudi Aramco's 2019 debut.
Q3. Why did Asian markets rally so sharply today?
Asia tracked the strong Thursday US session, which was driven by President Trump calling off planned strikes against Iran and signaling that a peace deal could be reached this weekend. South Korea's Kospi jumped 7.8% and Japan's Nikkei rose 3.5% on the de-escalation news combined with the broader AI chip recovery.
Q4. How does SpaceX's dual-class share structure affect SPCX investors?
Elon Musk retains roughly 82% voting control through the dual-class share structure. SPCX shareholders own Class A common shares, which carry economic rights but limited voting power on corporate matters. This is a common structure for founder-led IPOs but is a governance risk factor to consider when evaluating the listing.
