SpaceX Files for IPO With Target Valuation of $2 Trillion

Space Exploration Technologies Corp. has filed confidentially with the U.S. Securities and Exchange Commission for an initial public offering on the NASDAQ stock exchange, potentially as early as June 2026. The company is targeting a total valuation of approximately $2 trillion. Elon Musk intends to raise up to $75 billion by listing roughly 3.75% of the company, with up to 30% of those shares reserved for non-institutional retail investors.

The IPO follows a February 2026 merger between SpaceX and the AI startup xAI, which initially valued the combined entity at $1.25 trillion. The company plans to use the proceeds to fund the mass production of Starship, the expansion of the Starlink constellation, and the launch of up to one million space-based data center satellites designed to bypass terrestrial electricity and water constraints. A successful Starship V3 launch in May is viewed as a potential catalyst for the listing.

To facilitate the debut, the NASDAQ waived its 10% minimum free float requirement and reduced the standard three-month seasoning period to 15 trading days. Other indices, including the S&P 500 and FTSE Russell, are reportedly adapting similar rules. Alphabet Inc. stands to gain a $100 billion windfall from its 5% stake, while the Ark Venture Fund is currently providing investors early exposure to the company. The move is expected to increase competitive pressure on Amazon.com's Project Kuiper and draw scrutiny from U.S. and EU antitrust regulators.