SpaceX has set the stage for what would be the largest initial public offering in history, filing to raise roughly $75 billion as Elon Musk seeks fresh capital to fund a sprawling push into artificial intelligence and next-generation rocketry.
According to the company’s filing, SpaceX plans to sell more than 555 million Class A shares priced at $135 each. The Nasdaq debut is slated for June 12 under the ticker SPCX. At that price, the rocket and satellite company would carry a market value of close to $1.77 trillion, a figure that would instantly place it among the most valuable companies in the world.
The offering reflects how thoroughly SpaceX has been reshaped over the past year. The firm merged with Musk’s AI venture xAI in February 2026, folding the chatbot maker and the social platform X into its corporate structure. As a result, the business now spans rocket launches, the Starlink satellite-internet network and a fast-growing artificial-intelligence operation that consumes enormous amounts of capital.
That AI buildout is a central theme of the IPO. The company reported spending heavily last year on data-center construction tied to xAI, including its Memphis facility, and has signaled that future capital will flow toward Starship, the heavy-lift vehicle it views as essential to deploying larger satellites and, eventually, orbital data centers. SpaceX has framed space-based computing as a long-term ambition that depends on dramatically cheaper and more frequent launches.
The financial picture underlying the valuation is mixed. For 2025, the combined company reported revenue of $18.7 billion alongside a net loss of more than $4.9 billion, with much of that shortfall attributed to its AI investments rather than its launch and satellite divisions. Those losses underscore the bet investors would be making: that SpaceX can convert dominant positions in launch and satellite internet into a durable AI franchise.
Not everyone is convinced the price tag holds up. Analysts at Morningstar argued that SpaceX’s fundamentals justify a valuation closer to $780 billion, roughly 55 percent below the IPO target, and cautioned that disciplined investors might wait for the initial enthusiasm to cool before buying in. Other observers have raised similar questions about whether projected growth can support a valuation approaching $1.8 trillion.
Still, the sheer scale of the raise signals how aggressively capital is flowing toward companies positioned at the intersection of compute, infrastructure and frontier technology. If the offering prices as planned, it would dwarf previous record IPOs and give Musk an enormous war chest at a moment when AI data-center spending has become one of the defining cost centers of the technology industry.
For prospective shareholders, the decision comes down to conviction in Musk’s track record and in the premise that launch capacity and artificial intelligence will increasingly converge. The debut on June 12 will offer the first public verdict on whether the market shares that view.
