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SpaceX’in on the stock market: Five Risks Investors Need to Know About

12/06/2026 by the Logistics TransportIn the the General Assembly

SpaceX is preparing for its biggest stock market launch ever.

Elon Musk’'s rocket company begins trading on Nasdaq’ on Friday under the code SPCX. The company raised $75 billion (64.5 billion euros) by pricing each of its shares at $135, setting the company's value at $1.75 trillion (1.5 trillion euros) in the largest stock market IPO on record.

The deal will comfortably eclipse Saudi Aramco’'s previous record of $29.4 billion set at 2019’, which was later increased by the general allocation option.

SpaceX did something unusual. EuropeA strong driver to attract retail investors, including those in ’. According to Bloomberg’, individual investors placed orders worth about $100 billion (€86.6 billion) through trading platforms such as Robinhood, Fidelity and SoFi during the IPO process.

This demand alone exceeded the company's goal of raising $75 billion (64.5 billion euros) in funding, underscoring the interest of small investors before entering the stock market.

But below this exaggerated advertisement, a few warning lights are flashing. Here are five risks investors should weigh before the SpaceX’ IPO goes live:

1. Is SpaceX’ worth $1.75 trillion?

Investors will value SpaceX’e at a valuation of $1.75 trillion (1.5 trillion euros), about 94 times its annual revenue of $18.7 billion (euro 16.1 billion) at 2025’. By comparison, Nvidia, one of the market's most valuable tech companies, is trading less than a quarter of that level.

Investment research firm Morningstar, which has valued the company at $780 billion (€675 billion), describes the company as “, which is significantly overvalued, while Goldman Sachs data suggests that sustaining the share price will require revenues of over $100 billion (€86.6 billion) by 2030, suggesting that annual compound growth %It says it's over 40’.

2. A valuation based on a small variability

Investors also need to pay attention to the size of the public eye. Although SpaceX’ is valued at $1.75 trillion (1.5 trillion euros), its shares are only %From 3 to %4’ü will initially be open to public trade.

This means that the market value of the company will be determined by trading a relatively small portion of its equity. Reports show that more than 75% of the $75 billion (64.5 billion euros) offer is already allocated to existing investors and insiders, leaving fewer shares in the open market.

According to Morningstar’, limited volatility and strong demand for AI-related stocks can help support the share price in the early stages of trading, even if the company is valued above what the research firm considers fair value. The firm argues that when lockdown restrictions expire and more shares become available for trading, a clearer picture of investor demand may emerge.

But some analysts believe the limited volatility could continue to support the stock. Estimates suggest that when Nasdaq 100’e joins SpaceX’e, passive investment between $22 billion (€19 billion) and $27 billion (€23.4 billion) could flow, creating additional demand from index tracking funds.

History offers a warning note. Research by University of Florida professor Jay Ritter, often referred to as “Bay Public Offering, found that IPOs between 2012 and 2021 averaged on the first trading day. %It increased by 23.6 percent over the next three years. %It turned out to yield a 10.6 percent return.

3. Not profit, but loss.

SpaceX’'s financial results could also cause investors to pause.

The prospectus shows that the company is growing rapidly but still losing money.

The company owns the Starlink satellite internet service, which generates most of its revenue and is its only profitable business. He also owns the artificial intelligence company xAI’, which merged with SpaceX in February.

According to the application, SpaceX posted a cumulative deficit of $41.3 billion (€35.76 billion) as of March 31, and reported a net loss of $4.27 billion (€3.7 billion) in the first quarter of 2026’.

This compares to $528 million (457 million euros) in the same period of the previous year.

Most of the recent losses are due to xAI’. According to SpaceX’'s public offering application, the artificial intelligence business 2025’te recorded operating losses of approximately $6.4 billion (€5.5 billion). The application also showed that xAI’ was spending heavily in the first months of 2026’ while expanding its artificial intelligence infrastructure.

Morningstar argues that the artificial intelligence unit “ poses a material threat to the loss of value, and Grok” has not yet achieved meaningful market share against competing chatbots.

Supporters say losses are a choice, not a structural flaw.

Revenue from the previous year's $14.1 billion (12.2 billion euros) in 2025’te %It rose 33 percent to $18.7 billion (€16.2 billion). The basic launch and satellite business was profitable as recently as 2024. The vulnerabilities largely reflect the intense investment in artificial intelligence infrastructure; The expenditures said by the supporters are already being compensated by new computing contracts.

4.Artificial intelligence growth gambling

Supporters argue that investors are paying for future growth instead of existing profits.

While Starlink remains the company's main source of revenue, the AI business is expected to play a larger role in the coming years.

The bulls also point to SpaceX’'s dominant position in rocket launch and satellite communications, suggesting that the company is uniquely positioned to benefit from the growing demand for connectivity, computing power, and artificial intelligence infrastructure.

SpaceX launches more rockets each year than the rest of the world combined, and has more than nine million Starlink subscribers, but the newest growth driver is the AI data center business purchased through the xAI merger.

Last Friday, Google agreed to pay $920 million (€796.6 million) per month for compute capacity at SpaceX’e xAI data centers in a 32-month agreement that will run from October 2026’ to June 2029’, covering access to approximately 110,000 Nvidia GPU’s.

This was after the agreement in May, when Anthropic’in paid $1.25 billion (EUR 1.08 billion) per month to lease the entire output of the Colossus 1 data center by May 2029, with total annual computing revenue of about $26 billion (EUR 22.5 billion).

The bulls argue that this contracted income, obtained in less than four months, shows how quickly the company can make money from its infrastructure. Skeptics note that both contracts include 90-day termination provisions after December 2026’, with Google’ itself framing the agreement as “bridge capacity” rather than a permanent commitment.

5. Risk the size of Elon Musk

SpaceX’'s success, profile, and past performance are closely linked to Elon Musk’, which has helped attract investors, customers, and business partners. This creates what investors call “kilit person risk”; I mean, concerns about how the company would perform if he didn't lead anymore.

The management structure of the company strengthens this dependence. Musk’'s super-voting Class B shares give him an approximate voting power of %He gives away 85’ini, and outside shareholders have little impact on key corporate decisions. In practice, this means that no one but Musk’ can decide whether or not to remain CEO.

Critics also note SpaceX’'s establishment in ’, Texas; Only the least amount of shares %Investors who own 3’ can file derivative lawsuits. The Danish academic pension fund AkademikerPension has blacklisted the stock, describing its management structure as “ Catastrophe”.

Supporters argue that double-class sharing structures are common among U.S. tech firms, including Meta and Alphabet’. They say intense voting control allows founders to achieve long-term goals without pressure from short-term investors.

Musk’'s reputation also brings political risk. U.S. Senator Elizabeth Warren urged the Securities and Exchange Commission to review the listing, warning that its inclusion in the index in the future could expose millions of passive investors to stocks without actively selecting them.

Others noted that SEC’ completed its review faster than expected, suggesting that this allowed the IPO process to proceed without delay and that regulators saw no immediate impediment to listing.

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From Welder to Rich: SpaceX's ’ IPO could make thousands of employees millionaires

11/06/2026 by the Logistics TransportIn the the General Assembly

The long-awaited public offering of SpaceX’ is hours away from reshaping the fate of thousands of employees.

The list set for this Friday is expected to earn millionaires not only among senior engineers and executives, but also among blue-collar workers, including cooks and welders who receive equity as part of compensation packages.

Unexpected rainfall is concentrated around Brownsville, Texas, one of ’'s poorest cities, USA, where SpaceX’ employs more than 3,000 people at its Starbase facility.

What makes this IPO unusual even by Silicon Valley standards is how far down in the organization chart equity grants appear to be.

Some estimates in media reports indicate that the total number of newly minted millionaires in the company as a whole is around 4,000. However, the figures could not be independently verified.

Michael Limas, a Brownsville-based financial planner, told Bloomberg’e that many of the company's non-technical employees received stock options as part of their salaries.

Limas, “SpaceX, has taken a very friendly approach to options at various levels from top to bottom. This is something unique to this region, ” said.

An example quoted by investment research platform Moby’ shows the scale quite clearly. A welder's initial 10,000 $The equity grant of ’ (€8,650) is currently 880,000 before being listed $It is reported to be worth close to ’a (€762,000).

These individual figures reflect a broader picture of generous equity compensation, consistently reported at multiple points of sale.

The IPO itself has a gradual locking structure rather than the standard 180-day cliff that most companies use.

According to the explanation, it contains multiple early release windows; among them, five out of ten consecutive trading days after the stock's initial public offering price %There is also a performance-dependent mechanism that will come into play if it is traded over 30 times. This will allow some employees to access their new wealth a few weeks after it hits the market.

Brownsville prepares for ripple effects

SpaceX’'s impact on the region is already remarkable, and financial gains from the IPO are likely to further increase it.

Brownsville has long been one of ’'s most economically deprived cities, with average family income roughly a third below the national average, according to government data.

SpaceX arrived about a decade ago and installed the Starbase launch facility on the Gulf of Mexico coast, about 40 kilometers from the city center.

The transformation since then has reportedly been marked by an influx of professionals from California and elsewhere. This was followed by increased housing costs, as is often the case when wealth is concentrated in a particular area.

According to several real estate agents and economists, average housing prices in the wider Brownsville-Harlingen metropolitan area have been around since 2020’ %Increasing by 25 to about 185,000 $From ’ (€160,000) 233,000 $’a (€201,000) increased.

Longtime residents, many of whom have modest incomes, feel the pressure.

For many employees, the shift from holding shares they can't easily sell to accessing cash comes with its own set of challenges.

According to Bloomberg’, asset managers in the region say there is considerable concern among staff, given that this may be the only opportunity to build wealth for generations, and that timing and tax planning can be costly to do wrong.

More than 100’ SpaceX employees in the region reportedly met with consulting firm Choreo to negotiate terms of wealth management; This brought potential assets between $1 billion (€865 million) and $5 billion (€4.33 billion) to the table, helping them achieve lower management fees.

John Cowen, the mayor of Brownsville, one of the region's sixth generation residents, tried to frame the transformation in a positive way, arguing to the U.S. media that it was great that the city was known as an investment destination.

Beyond SpaceX’, other industrial projects followed the company, including building a liquefied natural gas export terminal near the Port of Brownsville.

In March, US President Donald Trump also announced the construction of a $300 billion (260 billion euros) oil refinery, which is said to create 500 full-time jobs at the port.

It is not yet known whether the IPO will ultimately deliver on its promise and how fairly its benefits will soar in a city that knows more about challenges than prosperity.

Google to lease SpaceX/AI supercomputers for $920 million a month before IPO

06/06/2026 by the Logistics TransportIn the the General Assembly

Google has entered into an agreement with SpaceX to lease the company's computing capacity. Google will pay €920 million per month for 32 months.

With this development, the roles were reversed; Just five years ago, Google agreed to provide SpaceX ’e computing resources to provide internet services via Starlink satellites.

However, since SpaceX acquired artificial intelligence firm xAI’ in February 2026’, both owned by Elon Musk’, it currently operates a large number of large data centers called ’Colossus’, with a total computing capacity of over 2 GW‘ in the U.S. ’, and the estimated combined value of ‘SpaceX/AI’ is now $1.25 trillion.

The deal came days before SpaceX’'s planned public offering. The company also announced a similar deal with Anthropic in May.

Alphabet, the parent company of Google’, invested in SpaceX’ in 2015, when the company was worth only $12 billion. Today, SpaceX plans to go public with a valuation of over $1.75 trillion. The Google deal is expected to further increase the IPO value.

In SpaceX's IPO file, “, which deals in computing services with third parties, wrote in the ” section, “, that we believe our computer infrastructure and related strategy provide us with significant flexibility in how we allocate capacity and monetize it.

Over a hundred thousand special processors

According to a regulatory filing on Friday, Google will use 110,000 Nvidia GPUs, processors and memory components deployed in SpaceX’in data centers.

The range of use will be from October 2026 to June 2029.

According to the agreement, SpaceX ’ “ will not be able to access the promised amount of GPU’ until September 30, 2026’, Google will be able to terminate the agreement immediately or accept GPU”s provided at a discounted fee after a one-month grace period.

The Google deal represents the second major infrastructure deal announced after SpaceX ’ merged with xAI.

According to NBC’, Google aims to scale capacity to meet the growing customer demand for AI platforms and intermediaries, especially among large businesses.

While Musk’'s Grok AI model is not yet profitable, it showcases these deals with the world's richest entrepreneur, Google and Anthropic, as a valuable return on investment in large-scale data centers.

Meanwhile, deep fake pornography created through Grok triggered a global regulatory response against xAI’; The tech firm is now facing numerous lawsuits and government investigations that could result in hefty fines for non-consensual obscene content. Only in the United Kingdom’ta, United Kingdom GDPRData protection violations under ’si will result in %It can lead to fines up to 4’.

SpaceX set the IPO price and set the company's value at $1.75 trillion before setting the record

04/06/2026 by the Logistics TransportIn the the General Assembly

SpaceX has announced plans to raise up to $75 billion (€66 billion) in funding at its long-awaited stock market launch; This will make it the largest IPO in history, and its founder Elon Musk will significantly increase ’'s wealth, potentially making him the world's first trillionaire.

The company, officially known as Space Exploration Technologies Corp., said on Wednesday it plans to sell 555.6 million shares at $135 each. The offer will exceed the $26 billion (23 billion euros) Saudi Aramco’ raised in 2019’, and SpaceX’e will value approximately $1.77 trillion (1.56 trillion euros).

Such a valuation would place SpaceX’i among the world's most valuable stock exchange companies. Only a handful of firms are currently worth more, including Nvidia, which has a market cap of around $5.2 trillion (€4.6 trillion).

Musk’'s control continues

According to Forbes calculations, the public offering will also increase the value of Musk’'s stake in the company by an estimated $223 billion (EUR 196 billion). This could increase its net worth on paper to over $1 trillion (880 billion euros), although much of its wealth is tied to company shares.

The updated file also underscores Musk’'s control over the company. Thanks to Class B shares, each of which carries 10 votes, SpaceX CEO ’ will have roughly the same voting power after being listed. %He'll keep his 82.4’.

Despite rising valuation, losses continue

While SpaceX has offered to enter a blockbuster market, it is currently losing billions of dollars a year. Legal records show that the company reported operating losses of $2.6 billion (€2.3 billion) on revenue of $18.7 billion (€16.5 billion) last year, and losses continued during the first months of 2026’.

The public offering outlines ambitious plans for future growth, including financing missions to the Moon and Mars’a, and expansion of the Starlink satellite network. The document also reiterates Musk’'s long-standing goal of establishing a permanent human settlement on “ Mars”, a population of at least one million, which appears as existential threats that could condemn “ to the same fate as the ”dinosaurs.

Artificial intelligence targets are at the heart of growth plans

Artificial intelligence stands out in SpaceX’'s growth strategy. SpaceX said in its IPO application that the value of the global artificial intelligence market could reach $26.5 trillion (23.4 trillion euros). Although some of his plans, including space-based data centers, have not been technologically proven.

Analysts say artificial intelligence will be vital not only for SpaceX, but also for Musk’'s wider business empire, including electric vehicle maker Tesla. Wedbush Securities analyst Dan Ives even suggested a future merger between the two companies.

SpaceX’in, however, is facing scrutiny of artificial intelligence credentials. According to industry analysts, Musk’'s AI startup is struggling to keep up with competitors like xAI, OpenAI, and Anthropic.

IDC analyst Arnal Dayaratna said the main AI product, chatbot Grok’un “ister OpenAI, is less impressive than anything we've seen from other major players in the field, whether it's Anthropic or (Google’'s) Gemini.

Dayaratna said this does not mean that SpaceX’ has no potential as a major AI player; This is in part a move that could help Anthropic and Musk compete for enterprise customers using OpenAI and Anthropic products, thanks in part to a recent computer agreement with SpaceX’e that entitles them to buy the artificial intelligence coding tool Cursor’u for $60 billion (€53 billion) later this year.

SpaceX plans to use the net revenue from the IPO to fund the expansion of infrastructure for artificial intelligence and rocket business, among other investments, and to strengthen the satellite team that powers Starlink Mobile’a.

The company plans to be listed under the Nasdaq’ta “SPCX” symbol and may begin trading by the end of next week.

And SpaceX isn't the only gigantic market start that investors are currently preparing for. Earlier this week, Anthropic filed a confidential applicationTo officially launch its own IPO clock with the U.S. Securities and Exchange Commission.

OpenAI has not yet submitted an applicationThe initial SEC paperwork is ready, but the ChatGPT maker is widely expected to go public.

Ives, “This list represents the first major test for public markets after years of IPO silence, paving the way for SpaceX, AI giants Anthropic and OpenAI’ to follow shortly thereafter.