Elon Musk’s SpaceX is reportedly preparing for an IPO next year with a valuation goal to surpass $1 trillion, which could position it as one of the highest-value offerings on record.
Bloomberg had claimed in a report, citing unnamed sources, reported Tuesday that SpaceX aims to raise more than $30 billion in an IPO, seeking a valuation of around $1.5 trillion. Also Reuters, referencing its own sources, suggested a lower range of about $25 billion in proceeds and a valuation near $1 trillion, with the possibility for this to surpass Saudi Aramco’s 2019 initial public offering (IPO), which raised $25.6 billion.
Also according to reports, Musk’s business intends to pursue a listing in the middle to late part of 2026, but depending on the state of the market and other variables, the date may likely change and maybe fall into 2027.
According to Bloomberg, SpaceX intends to utilise the money raised to build space-based data centres and buy the necessary components. This year, the corporation anticipates making about $15 billion in revenue. In 2026, SpaceX anticipates revenue to increase to between $22 billion and $24 billion.
Samuel Kerr, the head of global equity capital markets at Mergermarket, commented by saying that SpaceX has been on the dream list of several investors for years and represents one of the most exciting opportunities in the global IPO market.
“It is a genuine growth industry, with space technology seen as a key frontier in both defence, satellite proliferation and in tech infrastructure in general the growth of orbital data centres.”
Kerr went on to say that SpaceX is far and away the market leader” in the private space technology industry and that Starlink’s expansion has made it a “serious commercial beast.
With respect to the sales of Secondary Stock, The Wall Street Journal revealed last Friday that CFO Bret Johnsen had recently informed investors about a secondary share offering for staff members, which would put SpaceX’s valuation at $800 billion. SpaceX executives were considering a possible IPO in the second half of 2026, according to the WSJ story.
The $400 billion that SpaceX received after a secondary sale earlier this summer would possibly be doubled after the $800 billion valuation. But over the weekend, Musk swiftly stopped the fundraising reports, stating that SpaceX doesn’t require funding.
Musk posted on social media on Saturday, saying that there has been a lot of press claiming SpaceX is raising money at $800 (billion), which may not accurate. “SpaceX has been cash flow positive for many years and does periodic stock buybacks twice a year to provide liquidity for employees and investors.”
The increases in valuation, according to Musk, are a “function of progress with Starship and Starlink, and securing global direct-to-sell spectrum that greatly increases our addressable market.”
Musk did not address the veracity of the IPO reports at the time. However, the valuation news has “positive implications” for AST SpaceMobile (ASTS), a rival to SpaceX’s direct-to-cell solutions, according to William Blair’s note on Monday. AST has obtained a “litany of deals” with tier-1 mobile carriers, according to analyst Louie DiPalma.
It also mentioned that SpaceX signed two spectrum agreements with EchoStar in September, which, if SpaceX is valued at $800 billion, would be worth about $33 billion. According to William Blair, the deals should boost both the market value for international mobile satellite spectrum licenses and AST’s September acquisition of EllioSat.
A deal to purchase EllioSat and associated spectrum priority rights for a total of $64.5 million was announced by AST SpaceMobile in August.
Iridium (IRDM), Globalstar (GSAT), and ViaSat (VSAT) are the biggest holders of worldwide mobile satellite spectrum licenses, according to William Blair.
SATS stock jumped more than 11% on Wednesday, keeping the momentum that pushed it to the record level. This comes after a 25.5% surge over the last three trading days as the shares emerged after a consolidation period. Also SpaceX is owned by EchoStar (SATS) to the extent of around 3%.
Additionally, SpaceX comprises 23.3% of the closed-end fund Destiny Tech 100 (DXYZ). The shares of DXYZ increased by almost 14% on Wednesday.
The IPO would offer a significant source of funding for large-scale initiatives like AI computing data centres in space.
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