SpaceX cuts IPO valuation cap to $1.8 trillion
SpaceX is currently targeting a valuation of at least $1.8 trillion in its initial public offering, according to sources familiar with the situation, as Elon Musk’s rocket and artificial intelligence enterprise nears its market debut. In April, it was reported that SpaceX aimed for a valuation surpassing $2 trillion. The target is witnessing a downturn subsequent to consultations with advisers and investors, as per sources.
Details of an IPO, including size and valuation, are typically adjusted before pricing based on feedback from stakeholders, according to sources. SpaceX is reportedly targeting up to $75 billion, according to sources familiar with the situation, positioning itself for what could be the largest initial public offering in history. SpaceX is expected to begin formal marketing of its IPO as early as June 4, with pricing potentially taking place as soon as June 11, according to sources. The trading timeline may experience a delay of several days, according to sources.
Deliberations are ongoing, and the company may choose to raise its target valuation in response to investor feedback during the marketing phase, according to sources. A spokesperson for SpaceX did not provide an immediate response to a request for comment. SpaceX reported revenue of $18.7 billion in 2025, reflecting an increase from $14 billion in the previous year. During that period, the company transitioned from a profit of $791 million in 2024 to a loss of $4.94 billion last year, according to the filing.
The company announced in February its acquisition of Musk’s xAI, which includes the Grok chatbot and the social media platform X. The deal assigned a valuation of $1 trillion to SpaceX and $250 billion to xAI, according to reports. Goldman Sachs Group Inc., Morgan Stanley, Bank of America Corp., Citigroup Inc., and JPMorgan Chase & Co. lead the charge in the IPO, working in conjunction with 18 other banks. The company, known formally as Space Exploration Technologies Corp., anticipates its debut on Nasdaq and Nasdaq Texas under the symbol SPCX.
