SpaceX is reportedly preparing one of the largest public offerings in history, with plans to set its IPO price at a fixed $135 per share, according to a source familiar with the process. The company is aiming to raise around $75 billion through the listing.
If completed at that scale, the deal would value Elon Musk’s aerospace and satellite company at roughly $1.75 trillion, placing it among the most valuable companies ever to enter public markets.
The IPO would involve the sale of about 555.6 million shares, marking an unusually structured offering compared to traditional listings. Most companies typically announce a price range first, then adjust based on investor demand during the roadshow. SpaceX’s decision to lock in a single price before investor presentations is considered highly unusual in global markets.
The company is expected to begin its investor roadshow on Thursday after holding preliminary “testing the waters” meetings. However, sources noted that the final structure, size of the raise, and pricing could still change depending on investor feedback.
Under the current plan, the listing would be an all-primary offering, meaning all proceeds would go directly to SpaceX rather than existing shareholders. Elon Musk is also expected to hold onto his shares for at least 366 days after the IPO, a move seen as a signal of long-term commitment to investors.
SpaceX is reportedly planning to allocate up to 30% of shares to retail investors, which is far higher than typical IPOs. This approach is aimed at tapping into strong public interest in Elon Musk and broadening ownership beyond institutional investors.
The company’s valuation is heavily tied to future technologies rather than current earnings. While Starlink remains its main source of revenue and profit, SpaceX is also betting on long-term projects such as Mars missions, space-based data centers, and AI-driven infrastructure in orbit.
This growth narrative has helped push investor expectations despite financial volatility. The company posted revenue of $18.67 billion in 2025, but also reported a net loss of nearly $4.94 billion, highlighting the gap between current performance and future ambitions.
Analysts remain divided on valuation. Some estimates place SpaceX closer to $780 billion, while others support its much higher private-market valuation. At the proposed IPO price, SpaceX would trade at nearly 94 times revenue, significantly higher than many major tech companies.
The IPO is also seen as part of a broader wave of major listings expected from high-profile private firms, including OpenAI and Anthropic, which could together reshape public markets.
If successful, SpaceX would debut on the Nasdaq under the ticker “SPCX”, with major banks including Goldman Sachs, Morgan Stanley, JPMorgan, Citi, and Bank of America leading the offering.
