SpaceX Targets Nasdaq as Preferred Venue for Blockbuster IPO

Written by Sandra Leggero

Sandra Leggero has a background in financial markets, having spent more than 9 years in commodities trading for several European and Asian companies. She holds a degree in Economics from the University of Pavia and specializes in emerging markets.

, | Updated: March 10, 2026

Key Moments

SpaceX is favoring a Nasdaq listing for its planned IPO and is tying that choice to early inclusion in the Nasdaq 100 index, according to people familiar with the matter.
The company is seeking an IPO valuation of around $1.75 trillion, which would place it among the largest publicly traded firms in the United States by market value.
Nasdaq has proposed a “Fast Entry” rule to accelerate index inclusion for newly listed megacap companies, a move seen as targeting high-profile issuers such as SpaceX.

SpaceX Considers Nasdaq for Potential Record-Breaking IPO

NEW YORK, March 10 (Reuters) – Elon Musk’s SpaceX is leaning toward listing its shares on Nasdaq in what could become the largest initial public offering ever, according to four people with knowledge of the company’s internal deliberations.

Two of those people said that SpaceX wants to secure early admission to the Nasdaq 100 index and has effectively made that a prerequisite for listing on the technology-focused exchange. They also emphasized that the company’s thinking is still fluid and could change. The people requested anonymity because the talks are private.

Reuters has previously reported that SpaceX is preparing to go public as early as June.

The New York Stock Exchange is also vying for the listing, and multiple sources indicated that neither Nasdaq nor NYSE has been given definitive notice regarding SpaceX’s choice of venue.

Nasdaq 100’s Appeal and Recent Performance

The Nasdaq 100, operated by Nasdaq Inc, is widely regarded by major institutional investors as a flagship blue-chip benchmark. It is used to gauge the performance of many of the world’s largest publicly traded companies, including leading technology names such as Nvidia, Apple and Amazon.com. The index rose about 21% last year and is slightly lower so far this year.

Nasdaq’s Proposed Fast-Track Index Rule

In an effort to attract large private companies, Nasdaq put forward a rule change last month that could accelerate the inclusion of newly listed megacap stocks in the Nasdaq 100.

The proposal, which is not yet final and could take several months to be implemented, is aimed at high-valuation private firms such as SpaceX, Anthropic and OpenAI, among others.

Under the proposed “Fast Entry” rule, a company newly listed on Nasdaq could qualify for rapid addition to the Nasdaq 100 in just under one month if its market capitalization places it within the top 40 existing constituents of the index. One of the people familiar with SpaceX’s plans said the company is targeting a valuation of around $1.75 trillion for the IPO, which would make it the sixth-largest company by market capitalization in the United States based on the latest share prices.

Currently, new public companies typically must wait up to a year before joining major benchmarks such as the S&P 500 or the Nasdaq 100, in order to first demonstrate to investors that they can handle the trading volumes that come with heavy institutional index demand.

Aspect	Current Practice	Nasdaq Proposed “Fast Entry”
Eligibility timing for major index inclusion	Up to 1 year after IPO	Just under 1 month after listing
Market cap requirement	Standard index criteria over time	Must rank among top 40 Nasdaq 100 members by market value
Intended beneficiaries	All eligible companies	Newly listed megacap issuers such as SpaceX, Anthropic, OpenAI

Why Index Membership Matters

Joining a major benchmark such as the Nasdaq 100 or the S&P 500 typically opens access to substantial institutional capital, as index-tracking funds and other large investors accumulate meaningful positions. This can broaden a company’s investor base and enhance trading liquidity over time.

The NYSE maintains its own index covering the 100 largest U.S. stocks listed on that exchange, but that benchmark is less closely watched by investors than the Nasdaq 100, making Nasdaq 100 inclusion especially significant for very large IPOs.

For founders, executives and early backers, deeper liquidity can help reduce the market disruption caused by sizable secondary sales after lockup periods expire, which generally range from 90 to 180 days following an IPO. However, it does not eliminate the risk that heavy insider selling could still pressure the stock.

Silence From SpaceX and Ongoing Index Talks

SpaceX did not respond to requests for comment.

Reuters reported in February that advisers to SpaceX had contacted major index providers, including Nasdaq, to explore ways of gaining faster-than-usual access to key benchmarks.

IPO Pipeline Context

SpaceX’s anticipated listing is expected to be the standout transaction in what is shaping up as one of the most active periods for IPOs in recent memory. Several prominent venture-backed firms and startups, including OpenAI and Anthropic, are preparing for their own potential market debuts.