SpaceX Aims for $2 Trillion Valuation Before Historic IPO
SpaceX has raised its target IPO valuation to over $2 trillion, as reported, positioning the world’s most valuable startup to prepare for what could be the largest market debut in history. Billionaire Elon Musk’s rocket, satellite, and AI company, along with its advisers, is presenting the figure to potential investors in its initial public offering, according to sources, in anticipation of meetings scheduled for the coming weeks. According to sources, the briefings intended to gauge interest would probably provide additional details that would bolster the valuation. With a valuation exceeding $2 trillion, SpaceX’s worth would surge by nearly two thirds within just a few months. It is reported in February that the company’s acquisition of Musk’s xAI valued the combined company at $1.25 trillion.
It would also surpass all but five of the companies in the S&P 500 Index — Nvidia Corp., Apple Inc., Alphabet Inc., Microsoft Corp., and Amazon.com Inc. By that measure, it would surpass both Meta Platforms Inc. and Musk’s own Tesla Inc., which are the other two constituents of the so-called Magnificent 7 stocks. It is reported Wednesday that SpaceX has confidentially filed for an IPO that could potentially occur in June. The listing positions SpaceX as the inaugural entity in what could be a series of significant IPOs, with OpenAI and Anthropic PBC poised to follow, as their chatbots compete with SpaceX subsidiary xAI’s Grok. Discussions are currently in progress, and specifics of the offering may still be subject to alteration, according to sources.
A spokesperson for SpaceX has not yet provided a response to the request for comment. According to reports, a listing for SpaceX could generate as much as $75 billion. At that size, it would overshadow the largest IPO to date, Saudi Aramco’s $29 billion debut in 2019. The company intends to allocate the funds to realize Musk’s vision of AI data centers in space and establish a factory on the moon. The billionaire’s ambitious initiatives will necessitate extraordinary levels of funding and resources that encompass multiple companies under his control. Musk stated in March that his Terafab project, aimed at producing chips for robotics, AI, and space data centers, will be collaboratively managed by Tesla and SpaceX.
SpaceX has selected Bank of America Corp., Citigroup Inc., Goldman Sachs Group Inc., JPMorgan Chase & Co., and Morgan Stanley for senior roles in the IPO, according to sources. A source indicated that the company has scheduled a call with the wider bank syndicate for Monday, and an analyst briefing is set for later in April. IFR and Reuters have previously reported on the syndicate call and the analyst briefing, respectively.
