SpaceX just put a number on its ambitions, and it’s a big one. The company’s IPO filing cites a total addressable market of $28.5 trillion across its operations in space, global connectivity, and artificial intelligence.
The biggest IPO ever, if it happens
SpaceX is reportedly targeting a $75 billion IPO at a valuation of $1.75 trillion. If it pulls that off, it would become the largest initial public offering in history, eclipsing Saudi Aramco’s record-setting debut.
The $28.5 trillion TAM, or total addressable market, is the company’s way of telling prospective investors: we’re not just a launch provider. In plain English, TAM is the theoretical maximum revenue a company could generate if it captured 100% of every market it operates in.
Three pillars: space, Starlink, and AI
