SpaceX Debuts at $1.77 Trillion in Largest IPO Ever as Wall Street Eyes Nvidia Valuation Surpass

The Quick Take

• SpaceX went public on June 12 with an initial market value of $1.77 trillion — the largest IPO in history
• Certain Wall Street experts project SpaceX stock will eventually be worth more than Nvidia
• SpaceX's debut as the largest-ever IPO resets the ceiling for how markets value private technology companies

SpaceX completed its historic public debut on June 12, 2026, entering the market at an initial valuation of $1.77 trillion — making it the largest IPO in stock market history by initial market value. The scale of the debut immediately placed SpaceX among the world's most valuable publicly traded companies, prompting comparisons with Nvidia, the current AI-driven market darling trading at multi-trillion dollar valuations. Nasdaq News and Motley Fool both cover the emerging Wall Street debate: whether SpaceX's commercial space infrastructure, anchored in Starlink's global satellite internet business and Falcon's dominant launch market position, can scale to surpass Nvidia's current valuation over the medium term.

The SpaceX-versus-Nvidia comparison is fundamentally a debate about secular growth rate and total addressable market. Nvidia's current premium derives from its near-monopoly on AI accelerator supply and the trillion-dollar AI infrastructure buildout cycle. SpaceX's bull case rests on Starlink's multi-hundred-million potential subscriber base in global broadband — a market where satellite internet could achieve penetration in currently underserved regions — combined with Starship's potential to dramatically lower launch costs and open new commercial space markets. If Starlink executes on its global broadband penetration thesis, the revenue scale could rival or exceed Nvidia's AI accelerator revenue.

The forward signal investors should track is Starlink's quarterly subscriber growth and average revenue per user, which will be disclosed in SpaceX's first public financial reports. The macro variable is Nvidia's earnings trajectory: if AI infrastructure spending moderates and Nvidia's revenue growth decelerates, the valuation gap to SpaceX narrows even without SpaceX growing faster. Analysts initiating coverage on SpaceX in its first weeks of trading will provide the market's first systematic comparable framework — these initiations are the key publications investors should monitor for price target and market cap upside estimates relative to Nvidia's current capitalization.

Synthesized from 2 sources.