SpaceX Launches Record $75B IPO at $1.75 Trillion Valuation
SpaceX kicked off its IPO roadshow June 4, targeting a $1.75 trillion valuation and $75 billion raise.
"SpaceX just turned 'shoot for the stars' into a $75 billion IPO. Demand is already double. Buckle up."
SpaceX launched its IPO roadshow on June 4, 2026, setting the stage for what would be the largest public offering in history. Priced at $135 per share under Nasdaq ticker SPCX, the company is targeting a $1.75 trillion valuation and aims to raise $75 billion, with pricing expected June 11 and listing on June 12. Early investor demand has already hit approximately $150 billion — double the fundraising target — signaling intense market appetite.
The offering follows SpaceX's February 2026 all-stock merger with Elon Musk's xAI, which absorbed Grok and the X platform as SpaceX's AI division. Despite Starlink's strong performance — 9 million subscribers, $11.4 billion in revenue, and $7.2 billion EBITDA — the consolidated entity posted a $4.94 billion GAAP net loss in 2025 and a $4.28 billion loss in Q1 2026 alone. A $45 billion cloud deal with Anthropic and plans for orbital AI data centers by 2028 anchor the growth narrative.
At 94x 2025 revenue, the valuation is richly priced compared to Morningstar's $780 billion estimate. Still, the 30% retail float allocation — triple the mega-cap norm — signals SpaceX is deliberately building a broad shareholder base heading into a defining public debut.
The SpaceX IPO redraws the boundary between aerospace, AI, and infrastructure — executives should watch how orbital compute and Starlink reshape enterprise cloud competition. The Anthropic deal at $1.25 billion per month signals a new tier of AI infrastructure pricing that could ripple across vendor negotiations. Retail-heavy float allocation also sets a new precedent for how mega-cap tech goes public.
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