SpaceX is preparing what could become the largest IPO in history, targeting a $75 billion raise at a valuation of roughly $1.75 trillion. The company plans to offer 555.6 million shares at $135 each, with a June 2026 listing.
SpaceX isn’t doing this in a vacuum. OpenAI and Anthropic are also eyeing massive public offerings around the same window. Combined, the three companies could collectively seek around $240 billion from investors.
What SpaceX actually looks like under the hood
SpaceX’s S-1 filing, expected in May 2026, reveals a company that’s been busy remaking itself. In February 2026, SpaceX completed an all-stock merger with xAI, Elon Musk’s artificial intelligence venture. That deal combined SpaceX’s rocket and satellite operations, valued at around $800 billion, with xAI’s Grok AI platform, valued at approximately $230 billion.
The financial picture is a mixed bag. SpaceX reported consolidated revenues of $18.67 billion for 2025, with a net loss of $4.94 billion. The losses stem largely from massive R&D spending on the Starship program and AI infrastructure buildout, including ambitious plans for orbital data centers.
