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SpaceX reveals ambitious share price for upcoming listing
Elon Musk's aerospace firm SpaceX has proposed a share price of $135 (£100) per stock for its initial public offering (IPO), valuing the company at approximately $1.75tn. The announcement, made in a regulatory filing, marks an unprecedented move in timing and scale for a public debut.
Unusual timing and valuation
SpaceX's decision to disclose its estimated share price more than a week before its market debut is highly unusual. Most companies reveal their IPO pricing only a day before trading begins. The proposed valuation represents a significant jump from SpaceX's earlier estimate of $1.25tn earlier this year.
While the $135 price tag is not final-market demand will ultimately determine the sale price-it positions SpaceX as a potential contender for the most valuable company globally if the IPO succeeds. The firm is set to begin trading on the Nasdaq on 12 June.
Record-breaking fundraising target
SpaceX aims to raise $75bn through the IPO, which would shatter the previous record held by Saudi Aramco, which raised $25.6bn in 2019. If shares sell at or above the proposed price, Musk-who owns over 80% of SpaceX-could become a trillionaire.
However, analysts caution that such an outcome is far from guaranteed. Data from Dealogic shows nearly half of companies that went public in the last three decades saw their valuations decline post-listing.
"There is no doubt the valuation is incredibly rich," said Samuel Kerr, head of equity capital markets research at Mergermarket. "SpaceX is pricing itself at a ratio higher than any of the 'Mag 7' tech giants based on future earnings rather than current performance."
Samuel Kerr, Mergermarket
Financial performance and risks
SpaceX reported $18.6bn in revenue last year but posted a net loss of $4.9bn. In the first quarter of 2026, the company generated $4.7bn in sales but recorded a $4.3bn net loss. Its balance sheet lists $102bn in assets, including rockets and equipment, alongside $60.5bn in debt.
The firm's expansion beyond space exploration into artificial intelligence (AI), social media, and satellite internet has fueled its soaring valuation. Earlier this year, SpaceX acquired xAI, Musk's AI venture known for its Grok chatbot, which originally leveraged data from X (formerly Twitter) for training.
Strategic bets and industry trends
Musk has argued that space-based infrastructure is critical for AI development, citing Earth's limited land resources. SpaceX plans to launch AI satellites and eventually build orbital data centers.
"SpaceX used to be a launch company and a satellite broadband provider. Now it's a social media company and an AI lab," said Laurence Pevsner, a partner at venture capital firm Lux Capital. "The AI lab is what's driving the valuation, and it's a risky bet for shareholders."
Laurence Pevsner, Lux Capital
The IPO comes as tech giants race to secure funding for AI investments. Competitors like Anthropic, Alphabet, and OpenAI are also exploring public listings or capital raises to support their AI ambitions.
