SpaceX, freshman of record: IPO values it at 1.770 billion
he group filed papers: the goal is to raise 75 billion
The indiscretions were correct. SpaceX is coming to the stock exchange as of next 12 June and is set to become the largest IPO in history. The company founded by Elon Musk has filed documents with the US Securities and Exchange Commission, indicating its intention to place about 555 million shares at $135 each, for a market valuation close to $1.770 billion. The target is a 75 billion collection, which is more than double the current record, held by Saudi Aramco, which raised 29.4 billion in 2019.
From the documents filed, the first particularities of the transaction also emerged. For instance, the one concerning the structure of the placement. SpaceX in fact indicated from the outset a fixed price of $135 per share, an unusual choice for the US market, where companies normally communicate a price range and define the final value after the roadshow with investors.
It must be said that the listing comes at a time of strong expansion of the group's activities. In addition to space launches and the satellite networkStarlink, which offers a promising new connection possibility and is now also the company's main source of revenue, Musk is presenting investors with a strategy that includes infrastructure for AI (Goldman predicts that the revenues of SpaceX's AI division will rise to $322 billion by 2030, up from $3.2 billion in 2025), direct connectivity services between satellites and smartphones, and, in the long run, projects related to human presence on the Moon and Mars.
In all this, however, the balance sheet numbers show a company still engaged in a very intensive investment phase. In 2025, SpaceX posted a net loss of $4.94 billion on revenues of $18.7 billion. In contrast, the previous year closed with a net profit of $791 million on revenues of $14 billion.
Also among the items highlighted in the prospectus is a contract with Anthropic for the provision of computing capacity for artificial intelligence, worth about USD 1.25 billion per month. The agreement could help support the development of the group's AI activities, although both parties retain the option to terminate it with 90 days' notice.
