Quick overview

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SpaceX is moving forward with plans for an IPO that could raise well over $30 billion, making it the largest listing ever. Led by Elon Musk, the company aims for a total valuation of about $1.5 trillion, putting it close to the market value Saudi Aramco achieved during its historic 2019 listing, when it raised $29 billion.

Some sources, who wished to remain anonymous due to the confidential nature of the situation, said that SpaceX’s management and advisers are looking to list as early as mid-to-late 2026. One source mentioned that the IPO date might be pushed back to 2027, depending on market conditions and other factors.

Shares of other space companies rose on Tuesday in response to SpaceX’s IPO plans. EchoStar Corporation hit a new intraday high, climbing up to 12% in New York after agreeing to sell spectrum licenses to SpaceX. SpaceX could go public as soon as the end of next year. Musk and the company’s board of directors have accelerated plans for the listing and fundraising in recent days, especially after SpaceX completed its latest insider share sale, hired for key positions, and outlined how it would spend the capital, according to one source.

The company’s faster route to public markets is driven by its development of the Starship moon and Mars rocket, as well as the rapid growth of its Starlink satellite internet service, which could lead to a direct-to-mobile business.

SpaceX will generate about $15 billion in revenue in 2025, growing to between $22 billion and $24 billion in 2026, with most sales coming from Starlink.

Two sources indicated that SpaceX plans to use part of the funds raised from the IPO to develop space-based data centers, including purchasing the chips needed to operate them. Musk has recently shown interest in this idea.