SpaceX IPO: Elon Musk-led rocket company could seek up to $75 billion, setting up what may become the biggest stock market listing on record
SpaceX is reportedly seeking an initial public offering valuation of more than $2 trillion, a figure that, if achieved, would place the Elon Musk-led company at the centre of what could become the largest stock market debut ever.
The company and its advisers are discussing that valuation with prospective investors as preparations for a public listing gather pace. The discussions are still ongoing, and the final terms of the IPO could change before any formal market launch.
The scale of the proposed listing is striking even by recent market standards. The report says SpaceX could raise as much as $75 billion in the offering, a sum that would put it ahead of Saudi Aramco’s 2019 IPO, which still stands as the largest listing on record.
The company has also reportedly taken a formal step toward going public. It recently submitted confidential IPO paperwork with the US Securities and Exchange Commission and is targeting a market debut later this year.
That valuation ambition marks a sharp jump even from earlier expectations.
Earlier figure of about $1.75 trillion had already triggered debate over how investors should assess the company’s worth. A major part of that discussion appears to revolve around the strength of Starlink, SpaceX’s cash-generating satellite internet business, and how much additional premium investors may be willing to assign to the company’s lead in space launches, along with still-developing bets such as Starship and space-based AI.
The timing is also notable because it follows a recent merger involving Musk’s businesses. IPO plan comes after Musk merged SpaceX with his artificial intelligence startup xAI in a deal that valued the rocket company at $1 trillion and xAI, the developer of Grok, at $250 billion.
SpaceX has not publicly confirmed the valuation target in the material provided.
There is also an early indication of the kind of institutional backing the company may be seeking ahead of the IPO. Reuters reported that SpaceX has held discussions with Saudi Arabia’s Public Investment Fund regarding a possible anchor investment of around $5 billion in the offering.
If the listing proceeds on the terms now being discussed, it would not only test investor appetite for one of the world’s most closely watched private companies, but also offer a rare public-market benchmark for a business whose valuation rests on both present revenues and future promise.
SpaceX is already seen as a dominant force in launch services, but the valuation being floated suggests that investors may also be pricing in long-term expectations tied to Starlink, Starship and Musk’s wider technology ecosystem.
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