SpaceX plans an unprecedented public offering that values the company at $1.75 T and aims to raise $75 B.

Deal size and valuation

The company plans to list on Nasdaq on 12.06.2026 with an offering price near $135 per share, implying a valuation of $1.75 T.

In December 2025 SpaceX repurchased shares at a valuation close to $800 B, and in May 2026 completed a 5:1 stock split before the planned offering.

SpaceX reported revenue of $18.7 B in 2025 and a net loss of $4.94 B that same year, figures investors continue to weigh.

Investor response and retail allocation

Morningstar values SpaceX at $780 B, about 55% below the planned offering price, according to published estimates.

Fidelity reduced the minimum investment threshold for participation from $500 K to $2 K, a change the brokerites say expands retail access to the deal.

Elon Musk initially proposed allocating 30% of the IPO to retail investors, well above the typical 5–10% industry range, which could increase retail exposure.

Corporate contracts announced before IPO

Days before the listing, SpaceX disclosed substantial commercial agreements, including a reported payment by Alphabet of $920 M per month for compute capacity.

Anthropic was also cited as paying in excess of $1 B monthly, according to the announcements tied to the offering timetable.

Alphabet holds roughly 7% of SpaceX; at a $1.75 T valuation that stake equates to about $122 B, a link analysts note when valuing announced contracts.

Business mix and profitability

Starlink accounted for approximately 58% of SpaceX’s revenue in 2025 and remains the company’s primary profitable segment amid other cash-intensive operations.

Other areas, including rocket launches, Starship development and AI infrastructure following the xAI integration, continue to generate significant costs.

Summary

The proposed IPO would be the largest in history by proceeds and valuation, juxtaposing high market expectations with recent losses and differing third-party valuations.