SpaceX is reportedly targeting a valuation of at least $1.8 trillion in its upcoming initial public offering (IPO) as it moves closer to launching its offering. Sources familiar with the matter indicated that this valuation is lower than an earlier estimate of over $2 trillion, as reported by Bloomberg News in April, following consultations with advisors and investors.
The specifics of the IPO, including its size and valuation, are typically refined based on feedback from stakeholders prior to pricing. SpaceX is aiming to raise up to $75 billion, a figure that would set the record for the largest IPO in history.
In its IPO filing dated May 20, SpaceX outlined its transformation from a company focused on manufacturing reusable rockets and providing satellite internet services to one that aspires to become an AI services and infrastructure leader, exploring concepts such as orbital data centers and targeting a total addressable market valued at $28.5 trillion.
Formal marketing for the IPO is expected to commence as soon as June 4, with pricing anticipated as early as June 11, though these timelines may shift based on ongoing discussions. SpaceX may also consider adjusting its valuation target in response to investor feedback during its marketing efforts. A spokesperson for SpaceX did not provide immediate comments when approached.
According to the filing, SpaceX reported revenues of $18.7 billion in 2025, an increase from $14 billion in 2024. However, the company experienced a significant financial downturn, recording a loss of $4.94 billion for the year after previously reporting a profit of $791 million in 2024.
In February, SpaceX announced its acquisition of xAI, the AI company founded by Elon Musk, which includes the Grok chatbot and social media platform X. This acquisition had previously assigned SpaceX a valuation of $1 trillion and xAI a value of $250 billion, as reported by Bloomberg News.
The IPO is being managed by leading financial institutions including Goldman Sachs Group Inc., Morgan Stanley, Bank of America Corp., Citigroup Inc., and JPMorgan Chase & Co., along with 18 other banks. The company, formally known as Space Exploration Technologies Corp., is expected to trade on Nasdaq and Nasdaq Texas under the ticker symbol SPCX.
Published on May 29, 2026.
