Elon Musk’s SpaceX eyes $1.77tn valuation ahead of historic IPO
SpaceX is targeting a $1.77tn valuation in its IPO, with plans to raise about $75bn. If it lands, the listing would be the biggest stock market debut ever.
Intelligence analysis by GPT-5.4 Mini
SpaceX has set an IPO price that implies a near-$1.77tn valuation, putting it ahead of Tesla and Meta and just behind TSMC in market value. The filing also shows a company still losing money, even as investors bet on its rockets, Starlink and AI ambitions.
SpaceX is trying to sell tiny pieces of itself to the public at a price that says it is worth almost $1.77 trillion. That is like pricing a toy factory not just for the toys it has made, but for all the giant toys it hopes to build later.
Analysis
What SpaceX is doing
SpaceX filed with the US Securities and Exchange Commission saying it plans to sell 555.6 million shares at $135 each. That would raise about $75bn and imply a valuation of nearly $1.77tn, which the article says would make it the world’s seventh-largest company by market value.
Why the pricing stands out
The unusual part is that SpaceX fixed a specific share price before its investor roadshow. As quoted by Al Jazeera, an IG analyst said the surprise was that the company set the price before gauging demand, suggesting Musk has strong control over the deal and confidence that investors will buy in.
A bet on future potential
The company remains heavily loss-making. Al Jazeera says SpaceX reported a $4.9bn net loss on $18.7bn in revenue in 2025, followed by a $4.3bn loss in the first quarter of this year. Jay R Ritter, an IPO specialist at the University of Florida, contrasted SpaceX with Saudi Aramco, saying Aramco had proven profits and revenues, while SpaceX is being valued mainly on future potential.
Why the market may still buy it
Even with losses, the article says sentiment is strong. Investors are also looking beyond rockets: SpaceX is tied to internet services through Starlink and to AI through xAI, and the piece says buyers are already valuing the company’s first-day market capitalisation at $2.2tn.
The bigger picture
The IPO is part of a broader wave of mega-listings, alongside OpenAI and Anthropic, and comes as US markets sit near record highs on the back of the AI boom. For investors, SpaceX is becoming a test case for how far that optimism can stretch.
Key points
- SpaceX is targeting a nearly $1.77tn valuation in its IPO and plans to raise about $75bn.
- The company says it will sell 555.6 million shares at $135 each.
- The listing would be the largest stock market debut in history if completed at that valuation.
- SpaceX remains unprofitable, with a $4.9bn loss in 2025 and a $4.3bn loss in Q1 this year.
- The article compares the deal with Saudi Aramco’s 2019 debut and frames SpaceX as a bet on future potential.
If investors accept the price, SpaceX could become the biggest stock-market debut ever and gain huge new funding and visibility. The listing could also strengthen confidence in its rockets, Starlink and AI businesses, which the article says are part of its broader appeal.
The biggest risk is that the company is still not profitable, with multibillion-dollar losses in 2025 and early 2026. If investors decide the valuation is too dependent on future promises, the IPO could fall short of expectations or face pressure after trading begins.
