SpaceX mulling IPO at $1.5trn valuation - reports
By Josh White
Date: Wednesday 10 Dec 2025
(Sharecast News) - Elon Musk's SpaceX is preparing for a landmark stock market debut next year that could value the rocket and satellite group at more than $1trn and raise in excess of $25bn, according to multiple media reports on Wednesday.
Discussions with banks had started over an initial public offering targeted for June or July, Reuters reported, citing a source familiar with the matter.
The flotation would rank among the largest in history and could rival Saudi Aramco's 2019 listing, which achieved a $1.7trn market valuation, the Guardian noted.
Bloomberg reported that SpaceX and its advisers were aiming for a valuation of about $1.5trn, a figure repeated by the Times, which described the proposed offering as a "blockbuster" aimed at bolstering the company's dominance in the commercial space industry.
TechCrunch added that the IPO would seek to raise roughly $30bn, potentially eclipsing Aramco's record $29bn capital raise.
Analysts expected most of SpaceX's future revenue growth to be driven by Starlink, its expanding satellite internet service.
SpaceX has rapidly expanded operations in recent years, becoming the world's most active launch provider.
It completed 134 Falcon rocket missions in 2024 and was targeting 170 launches by year-end.
Musk had positioned SpaceX's next-generation Starship system as central to future deep-space missions, including potential crewed flights to Mars.
Bloomberg also reported that SpaceX expected revenue of around $15bn in 2025, rising to as much as $24bn the following year, with funds from the listing earmarked for developing space-based data centres and chip procurement.
Starlink is already responsible for the majority of the company's income.
Reports last week suggested SpaceX was preparing a secondary share sale valuing the business at about $800bn, placing it alongside OpenAI as the world's most valuable private tech company.
Musk rejected those valuations as inaccurate, saying the firm had been cashflow positive for years and routinely bought back stock to provide investor liquidity.
SpaceX had not publicly commented on the IPO plans by Wednesday morning.
Reporting by Josh White for Sharecast.com.
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