SpaceX targets 1.75tn valuation in record − breaking IPO filing, revealing a suggested share price of 1.75tn valuation in record − breaking IPO filing, revealing a suggested share price of 135 (£100) in paperwork released on Wednesday that would value Elon Musk’s rocket and satellite company at roughly 1.75trillion.Thecompanyaimstoraise1.75trillion.The company aim storaise 75 billion, which would nearly triple the current record of 25.6billionsetbySaudiAramcoin2019.SpaceXlost25.6billionsetbySaudiAramcoin2019.SpaceXlost4.9 billion last year and $4.3 billion in the first quarter of 2026, and has never made a profit. Musk controls more than 80% of the stock. The shares are expected to begin trading on the Nasdaq on 12 June. The suggested price is not final — the actual price will be determined by buyers and could go up or down.

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SpaceX Targets $1.75tn Valuation in Record-Breaking IPO Filing — What the Filing Reveals

SpaceX brought in 18.6billioninrevenuelastyearbutrecordedanetlossof18.6billioninrevenuelastyearbutrecordedanetlossof4.9 billion. In the first three months of 2026, it achieved 4.7billion in sales but made anet lossof 4.7 billion in sales but made a net loss of 4.3 billion. The balance sheet shows 102billioninassets,includingrocketsandotherequipment,against102billioninassets,includingrocketsandotherequipment, against 60.5 billion of debt SpaceX SEC IPO filing, 4 June 2026.

The suggested $135 share price is unusually early. Companies typically reveal the price they want to sell their shares the day before trading begins. SpaceX has disclosed its estimate more than a week in advance — one of the earliest price estimates in stock market history.

Samuel Kerr, head of equity capital markets research at Mergermarket, described the valuation as “incredibly rich.” He noted that SpaceX was pricing itself at a sales ratio higher than any member of the Magnificent Seven — Alphabet, Amazon, Apple, Meta, Nvidia, Microsoft, and Tesla. “But SpaceX is being valued on future earnings and revenue rather than the here and now, so some investors might be willing to overlook that,” he said [EXTERNAL LINK: Mergermarket analysis, 4 June 2026].

The Magnificent Seven — how the tech giants compare on valuation

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SpaceX Targets $1.75tn Valuation in Record-Breaking IPO Filing — The xAI Factor

The acquisition of xAI earlier this year is the variable that changed the valuation calculus. SpaceX used to be a launch company. Then it was a satellite broadband provider. Now it is also a social media company — through X — and an artificial intelligence lab.

“The AI lab is what’s really spiking the valuation, and I think it’s a risky bet to put onto shareholders,” said Laurence Pevsner, a partner at venture capital firm Lux Capital BBC Today programme interview, 4 June 2026.

xAI began as part of X, formerly Twitter, using access to live text and information on the platform for AI training data. Musk has outlined plans to launch AI satellites and eventually build data centres in orbit. The pitch to investors is that SpaceX is an AI infrastructure company that happens to own the cheapest way to put hardware into space.

The pitch is coherent. The financials do not yet support it. The $75 billion raise would be the largest in IPO history, nearly tripling Saudi Aramco’s record. Aramco was the world’s most profitable company when it went public. SpaceX is attempting to break the record while losing money.

According to Dealogic, almost half of the companies that have gone public in the last 30 years have seen their value decrease compared to when they listed Dealogic IPO performance data, 2026.

The biggest IPOs in history — how SpaceX compares to Aramco and others

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SpaceX Targets $1.75tn Valuation in Record-Breaking IPO Filing — The Musk Control Premium

Musk controls more than 80% of SpaceX. If the share price is at or above $135, he becomes the first trillionaire in history. The concentration of control is a risk factor that the IPO filing acknowledges.

The founder who controls SpaceX also controls X, Tesla, and xAI, which SpaceX now owns. The corporate boundaries between Musk’s enterprises are porous. xAI was part of X before it became part of SpaceX. Starlink is a subsidiary of SpaceX. The structure means shareholders are buying exposure to Musk’s entire ecosystem — rockets, satellites, AI, social media — with limited ability to influence any of it.

The governance discount that typically applies to founder-controlled companies is absent from the $1.75 trillion valuation. The market appears to be pricing the control as a feature, not a bug.

The IPO comes as other tech giants seek to raise capital for AI investment. Anthropic revealed its own IPO plans earlier this week. Google’s Alphabet wants to raise $80 billion for AI spending. OpenAI is reportedly considering going public this year.

The AI IPO wave — why 2026 is the year tech companies go public

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FAQ: SpaceX IPO 2026

What is SpaceX’s valuation?

SpaceX has suggested a share price of 135,valuingthecompanyatapproximately135,valuingthecompanyatapproximately1.75 trillion. The final price will be determined by market demand.

How much is SpaceX raising?

The company aims to raise 75billion,whichwouldbethelargestIPOinhistory.Thecurrentrecordis75billion,whichwouldbethelargestIPOinhistory.Thecurrentrecordis25.6 billion set by Saudi Aramco in 2019.

Is SpaceX profitable?

No. SpaceX lost 4.9billionin2025and4.9billionin2025and4.3 billion in the first quarter of 2026. It has never made a profit.

When will SpaceX shares start trading?

SpaceX is expected to begin trading on the Nasdaq on 12 June.

How much of SpaceX does Elon Musk own?

Musk controls more than 80% of SpaceX. If the share price is at or above $135, he would become the world’s first trillionaire.

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Written by the Business Desk, drawing on SpaceX’s SEC IPO filing, Dealogic market data, Mergermarket analysis, and interviews with Lux Capital. The desk has covered technology IPOs and capital markets for over 15 years.

Source: SpaceX IPO Filing, Dealogic, Mergermarket, Lux Capital