SpaceX has reduced its IPO valuation target from above $2 trillion to at least $1.8 trillion after consultations with advisers and investors. Marketing is expected to begin as soon as 4 June, with pricing potentially as early as 11 June. The company plans to raise up to $75 billion, which would be the largest IPO in history. SpaceX will trade on Nasdaq and Nasdaq Texas under the ticker SPCX, with major banks including Goldman Sachs, Morgan Stanley, Bank of America, Citigroup, and JPMorgan leading the deal. SpaceX reported $18.7 billion in 2025 revenue, but shifted from a $791 million profit in 2024 to a $4.94 billion loss in 2025 due to xAI integration and expanded AI infrastructure.
"SpaceX is targeting a valuation of at least $1.8 trillion in its initial public offering, down from the $2 trillion-plus it was aiming for as recently as April, according to Bloomberg. The target was adjusted after consultations with advisers and investors, and could still move higher depending on feedback during the formal marketing period, which is expected to begin as soon as 4 June. Pricing could come as early as 11 June."
"The company is seeking to raise as much as $75 billion in the offering, which would make it the largest IPO in history. SpaceX will trade on Nasdaq and Nasdaq Texas under the ticker SPCX. Goldman Sachs, Morgan Stanley, Bank of America, Citigroup, and JPMorgan are leading the deal alongside 18 other banks."
"SpaceX's S-1 filing on 20 May revealed a company that has grown rapidly but is not yet profitable at its current scale. Revenue rose from $14 billion in 2024 to $18.7 billion in 2025. But the company swung from a profit of $791 million in 2024 to a loss of $4.94 billion last year, driven by the costs of integrating xAI and expanding AI infrastructure."
"The February acquisition of Elon Musk's AI company xAI, which includes the Grok chatbot and social media platform X, gave SpaceX a valuation of $1 trillion and xAI a value of $250 billion at the time. The merger transformed SpaceX from a rocket and satellite internet company into what its IPO pitch describes as an AI services and infrastructure company with a total addressable market of $28.5 trillion, encompassing orbital data centres and space-based computing."
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