SpaceX IPO target valuation exceeds $2 trillion, plans to raise up to $75 billion

SpaceX has raised its IPO target valuation to over $2 trillion, as the company prepares to pitch this potentially largest IPO in history to potential investors. SpaceX's valuation has increased by nearly two-thirds in just a few months. In February of this year, after acquiring xAI, a company owned by Elon Musk, the combined company's valuation was $1.25 trillion.

If it goes public with a valuation exceeding $2 trillion, SpaceX's market value will surpass all companies in the S&P 500 index except for Nvidia, Apple, Alphabet, Microsoft, and Amazon, and it will also exceed Meta and Tesla. SpaceX has secretly submitted its IPO application, with the earliest listing potentially occurring in June, aiming to raise up to $75 billion, far exceeding the previous largest IPO record of $29 billion set by Saudi Aramco in 2019. The funds raised will be used for space AI data centers and lunar factory projects.

SpaceX has selected Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, and Morgan Stanley as the lead underwriters for the IPO and plans to hold a bank syndicate conference call next Monday, with an analyst briefing scheduled for later in April. Bloomberg Intelligence analysts noted that SpaceX's revenue is expected to approach $20 billion in 2026, with the launch business and Starlink contributing the majority of the revenue.