SpaceX targets $1.8 trillion valuation in $75B IPO

SpaceX is preparing for what could become the largest initial public offering in history, targeting a valuation of at least $1.8 trillion and aiming to raise up to $75 billion. The company plans to list its shares on the Nasdaq and Nasdaq Texas exchanges under the ticker symbol SPCX, with investor presentations beginning June 4 and final pricing targeted for June 11.

The offering follows the company’s public filing of a registration statement, which provided the first comprehensive look at its financial performance. In 2025, SpaceX generated $18.7 billion in revenue, a significant increase from $14 billion the prior year. However, the company reported a net loss of $4.94 billion, a sharp reversal from a net profit of $791 million in 2024. The financial picture is split across three segments: a profitable connectivity unit anchored by the Starlink satellite internet service, a space launch business operating at a loss, and a newer artificial intelligence segment that also reported losses.

The prospectus reframes SpaceX as more than a traditional aerospace company, emphasizing its ambitions in AI services and infrastructure, including plans for orbital data centers. This strategic...