SpaceX IPO target valuation exceeds $2 trillion, plans to raise up to $75 billion

2026-04-03 00:20:04

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ChainCatcher message: SpaceX has raised its IPO target valuation to above $2 trillion. The company is now preparing to pitch this potential deal to prospective investors—one that could be the largest IPO in history. SpaceX’s valuation is expected to grow by nearly two-thirds within a few months. After SpaceX acquired Elon Musk’s xAI in February this year, the combined company was valued at $1.25 trillion.

If it goes public at a valuation of more than $2 trillion, SpaceX’s market value would exceed the market caps of all companies in the S&P 500 except Nvidia, Apple, Alphabet, Microsoft, and Amazon—and it would also surpass Meta and Tesla. SpaceX has secretly filed for an IPO, with the earliest possible listing in June. It is expected to raise up to $75 billion, far exceeding the prior record for the largest IPO—Saudi Aramco’s $29 billion in 2019. The funds raised will be used for space-based AI data centers and lunar factory projects.

SpaceX has selected Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, and Morgan Stanley to serve as the lead underwriters for its IPO. It plans to hold a lenders’ group call next Monday, with analyst briefings to take place later in April. A Bloomberg Intelligence analyst noted that SpaceX’s revenue in 2026 is expected to approach $20 billion, with most of that coming from launch services and Starlink.

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