SpaceX files for potentially biggest IPO in history, listing likely in June 2026

The Starbase, Texas-based company is targeting a valuation of more than $1.75 trillion, Bloomberg News reported on Wednesday (1 April 2026), citing people aware of the matter. That would signal that space exploration has moved from speculative venture to mainstream investment.

The filing for a SpaceX IPO follows a merger of SpaceX and Musk’s AI startup xAI. That deal valued the rocket business at $1 trillion and the developer of the Grok chatbot at $250 billion. Last year, the world's richest person merged X (formerly Twitter) into xAI via a share swap.

“Investors seem to be clamouring for any sort of exposure to SpaceX,” Angelo Bochanis, an analyst at Renaissance Capital, told Reuters. While the company’s fundamentals are robust, its valuation—much like Tesla Inc.’s—will likely trade on the public’s belief in Musk’s long-term vision, he said.

SpaceX generated ~$8 billion in profit on revenue of roughly $15.5 billion last year, according to reports. This profitability is underpinned by two primary drivers:

To maintain his grip, Musk is expected to utilise a dual-class share structure. “This would let Musk tap public capital while retaining control, even after substantial dilution,” Minmo Gahng, assistant professor of finance at Cornell University, told Reuters.

SpaceX is currently seeking regulatory approval to launch up to 1 million solar-powered satellites designed to function as orbital data centres—a move that would marry its launch capabilities with xAI’s processing needs.

By taking the company public, Musk is not only seeking the capital required to reach Mars but is also betting that Wall Street’s current obsession with AI will extend to the stars.