SpaceX Trims IPO Valuation Target To $1.8 Trillion Ahead Of Market Debut

SpaceX is targeting at least a $1.8 trillion valuation for its initial public offering (IPO), people familiar with the matter said. The company is moving closer to going public.

This is lower than earlier plans. Bloomberg reported in April that SpaceX was looking at a valuation above $2 trillion.

The company’s reduced target comes after discussions with advisers and investors, which are routine in the IPO process as companies gauge pricing with input from stakeholders ahead of the formal marketing phase.

The company is still seeking to raise as much as $75 billion through the offering, which would make it the largest IPO in history if achieved.

Timeline And Listing Details

SpaceX is expected to begin formal marketing of its IPO as early as 4 June and could price the offering by 11 June, though the trading timeline could shift by a few days. The company plans to list on Nasdaq and Nasdaq Texas under the ticker symbol SPCX.

Goldman Sachs, Morgan Stanley, Bank of America, Citigroup, and JPMorgan Chase are leading the offering alongside 18 other banks. The valuation target could still be revised upward depending on investor feedback during the marketing process, the people said.

What SpaceX's IPO Filing Shows

SpaceX filed its IPO documents on 20 May, offering investors a detailed look at how the company has evolved.

The filing portrays SpaceX's transformation from a reusable rocket manufacturer and satellite internet provider into an AI services and infrastructure company, with ambitions that include orbital data centres and a total addressable market the company pegs at $28.5 trillion.

Financial Performance

SpaceX reported revenue of $18.7 billion in 2025, up from $14 billion the previous year. According to the filing, the company went from a profit of $791 million in 2024 to a loss of $4.94 billion in 2025.

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The xAI Acquisition

In February, SpaceX said it had bought Elon Musk’s xAI, which includes the Grok chatbot and the social media platform X. At the time, the deal valued SpaceX at $1 trillion and xAI at $250 billion. The acquisition was a major expansion of SpaceX’s scope beyond its core aerospace operations into artificial intelligence and social media infrastructure.

Sources:

The Economic Times

Bloomberg