SpaceX targets $1.75 trillion valuation in record IPO
The rocket company merged with xAI in February is preparing to raise $70-75 billion, shattering Saudi Aramco's $29.4 billion global record from 2019.
May 15th 2026 · United States
Elon Musk's SpaceX is preparing to launch what would be the largest initial public offering in history, with the company targeting a valuation of approximately $1.75 trillion and a listing size of $70 billion to $75 billion, according to sources familiar with the matter. The rocket and satellite company, which confidentially filed for an IPO in April, is planning to disclose its prospectus as soon as next week and aims to kick off a formal roadshow for investors on June 8. The offering would far exceed Saudi Aramco's record $29.4 billion IPO in 2019 and easily dwarf major U.S. debuts like Alibaba, Visa and Meta Platforms. The upcoming listing comes after SpaceX merged with Musk's artificial intelligence company xAI in February 2026, creating a combined entity valued at $1.25 trillion. Because no company has ever sold this much stock in an IPO before, SpaceX's advisers are exploring unique channels to reach retail investors outside the United States, including scouting brokers in the United Kingdom, Japan and Canada for client allocations. The timing of the roadshow remains subject to change, as the filing must be disclosed at least 15 calendar days before the marketing period begins. Market appetite for high-profile offerings appears strong following Cerebras Technologies' successful debut on Thursday, when the AI chipmaker surged 68% and closed with a market capitalization of roughly $95 billion. University of Florida professor Jay Ritter, who tracks U.S. IPOs, cautioned that companies going public at such elevated valuations face significant pressure to deliver exceptional growth. "When a company goes public at such a high valuation, lots of things have to go right," Ritter said. "Revenue has to grow enormously, and costs have to grow more slowly. Most of the time, things don't go according to plan." The SpaceX IPO is one of several anticipated offerings from AI-linked companies this year, with OpenAI and Anthropic also reportedly pursuing listings that could push their valuations past $1 trillion.