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SpaceX is targeting a valuation of at least $1.8 trillion in its initial public offering, down from an earlier goal above $2 trillion, according to Bloomberg.
According to Bloomberg, which did not identify its sources by name, the lower figure emerged from talks with investors and advisers. Those sources noted that IPO terms are subject to change before shares are priced and left open the possibility that strong demand during the roadshow could push the valuation back up.
A fundraising target of up to $75 billion would surpass every prior public offering in history, Bloomberg reported. Formal investor marketing could kick off as soon as June 4, with share pricing potentially following around June 11, although both dates remain subject to adjustment.
SpaceX filed for its IPO on May 20, pitching investors on the company's evolution from a reusable rocket maker and satellite internet provider into an AI services and infrastructure company. The filing identified a total addressable market of $28.5 trillion and floated plans for orbital data centers. The company expects to list on Nasdaq $NDAQ +0.52% and Nasdaq Texas under the ticker symbol SPCX.
