SpaceX Files for IPO at $2 Trillion Valuation
SpaceX has confidentially filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission, targeting a June 2026 launch. The IPO aims to raise $75 billion, which would place the company’s valuation at over $2 trillion, making it one of the most valuable publicly traded companies globally, just behind Amazon.
The primary revenue driver for SpaceX is its satellite internet service Starlink, which generated nearly $12 billion in revenue in 2025, accounting for approximately 60% of total revenue and boasting EBITDA margins above 60%. In contrast, xAI, another venture by Elon Musk, is currently operating at a loss of about $1 billion per month with minimal revenue.
At a valuation of 125 times 2025 revenue, analysts suggest high volatility in stock performance could follow the IPO, depending on Starlink’s growth trajectory and the future of xAI and orbital data centers. Different projections estimate that a $5,000 investment could grow to either $12,442 in a bull case or decrease to $2,218 in a bear scenario over five years.
