SpaceX has quietly filed for an IPO, targeting a June 2026 listing that could bring in up to $75 billion at a $1.75 trillion valuation, according to reports from Bloomberg and CNBC.
If successful, this would be the biggest public debut ever, surpassing Saudi Aramco’s $29 billion offering in 2019 and signalling a major shift in the AI funding landscape. The S-1 filing is expected in April or May.
According to the industry reports, the five banks leading the deal are Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, and Morgan Stanley.
SpaceX is not just a rocket company going public. Starlink, its satellite internet business, brought in about $16 billion in revenue and $7.5 billion in EBITDA in 2025. It now has 9.2 million subscribers in 150 countries and has doubled its user base for two consecutive years, reports Morningstar. The rockets created the advantage, but Starlink is the business that supports the high valuation.
xAI, which joined SpaceX through an all-stock merger in February, is the part of the story that should make VCs think twice. It is losing about $1 billion each month, all its original co-founders have left, and the $1.75 trillion valuation is up from $800 billion just three months ago, mostly because of the AI story added on top, as per Benzinga and EBC Financial Group.
This move could have wider effects, since OpenAI and Anthropic are also reportedly considering IPOs before the end of the year. How the market reacts to SpaceX’s offering and whether the high valuations for AI companies hold up will shape the pricing of future big AI IPOs.
