On Friday, February 27, 2026, reports emerged that SpaceX is targeting a record-breaking valuation of more than $1.75 trillion for its upcoming initial public offering (IPO).
The company is reportedly preparing to file its draft registration paperwork confidentially with the U.S. Securities and Exchange Commission (SEC) as soon as March 2026, setting the stage for a potential public debut in June 2026.
The Path to $1.75 Trillion
SpaceX’s valuation has skyrocketed over the past year, fueled by its dominant position in the launch market and the rapid expansion of Starlink.
- The xAI Merger: A key driver of the new valuation was the February 2026 acquisition of xAI, Elon Musk’s artificial intelligence startup. The merger valued the combined aerospace and AI entity at approximately $1.25 trillion just weeks before the IPO reports surfaced.
- Financial Performance: SpaceX reportedly generated $15 billion to $16 billion in revenue in 2025, with profits reaching nearly $8 billion.
- Global Standing: At a $1.75 trillion valuation, SpaceX would instantly become one of the top six most valuable companies in the world, surpassing giants like Meta and even Musk’s own Tesla.
The “Biggest Ever” Listing
If the IPO proceeds as planned, it is expected to shatter multiple financial records:
| Metric | Target / Projection | Current Record Holder |
| Capital Raised | Up to $50 Billion | Saudi Aramco ($29.4 Billion) |
| IPO Valuation | $1.75 Trillion+ | Saudi Aramco ($1.7 Trillion) |
| Lead Underwriters | Goldman Sachs, JPMorgan Chase, Morgan Stanley, Bank of America | N/A |
What the Funds Will Build
SpaceX has signaled that the massive capital injection from the IPO will be used to accelerate three “interplanetary” pillars of its business:
- Starship Scale-Up: Funding an “insane flight rate” for the Starship program to enable regular cargo and crewed missions.
- Moonbase Alpha: Establishing a permanent human presence on the lunar surface.
- Orbital AI Data Centers: Building a network of space-based data centers that leverage xAI’s technology to provide low-latency processing for global and orbital applications.
Strategic Control
To maintain his long-term vision for Mars, Elon Musk is reportedly considering a dual-class share structure. This would grant him and other early insiders super-voting rights, ensuring they retain dominant control over strategic decision-making even after the company becomes public.
