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SpaceX Targets Record $75 Billion IPO, Projecting $1.77 Trillion Valuation

SpaceX Targets Record $75 Billion IPO, Projecting $1.77 Trillion Valuation

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SpaceX plans to raise about $75 billion in the largest IPO ever, valuing the company at roughly $1.76 trillion, with 4.2 % of shares offered and 95.8 % held by Musk and insiders. It has set a single offering price of $135 per share. The deal would make SpaceX the world’s seventh‑largest company by market capitalization.

Fabien Yip
IG Group
1. SpaceX investors are making a similar bet on future growth, with the added complexity that SpaceX's addressable market – rockets, satellite internet, AI – is considerably broader than Tesla's was at listing.
2. The Tesla parallel is perhaps worth drawing: It debuted in 2010 as a loss-making company and largely tracked the S&P 500 for years, only breaking away decisively once it turned profitable for the first time in Q1 2013.
3. To me, this reflects Musk's control over the deal terms and his confidence that the book will fill.
4. The genuine surprise is that SpaceX fixed a price before the investor roadshow began.
Jay R Ritter
University of Florida
1. With SpaceX, there is a risk that cash flows will be used to send hundreds of thousands of people to Mars, at a loss.
2. So, one company's valuation was – and is – based on its demonstrated profitability, while the other company's valuation is based on potential.
3. SpaceX, in contrast, has trailing annual revenue of less than $20bn, and is not profitable.