Sprint for the biggest IPO in history! SpaceX raises valuation target to over $2 trillion

LootboxPhobia · 2026-04-02T23:58:19+00:00

SpaceX raises IPO valuation to $2 trillion, potentially the largest in history. The company founded by Elon Musk plans to conduct roadshows to confirm the valuation and has secretly submitted an IPO application. Its rocket and satellite communication businesses are leading, with revenues reaching $20 billion. Major underwriters include Bank of America and Goldman Sachs.

LootboxPhobia

2026-04-02 23:58:19

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Zhitong Finance APP has learned that SpaceX has, for the first time, raised its valuation target for an initial public offering (IPO) to more than $2 trillion, which could make it the largest listed transaction in history.

Insiders said the rocket, satellite, and artificial intelligence company founded by Tesla (TSLA.US) CEO Elon Musk is sharing this valuation expectation with potential investors and plans to launch a roadshow within the coming weeks to further justify its valuation logic.

If it were to go public with a valuation of more than $2 trillion, SpaceX’s valuation would rise significantly within just a few months. Previously, the company boosted its overall valuation to about $1.25 trillion by acquiring its artificial intelligence startup, xAI.

At this valuation level, SpaceX’s market capitalization would exceed Meta Platforms (META.US) and Tesla (TSLA.US), ranking only behind the five highest market-cap companies in the S&P 500—NVIDIA (NVDA.US), Apple (AAPL.US), Alphabet (GOOG.US, GOOGL.US), Microsoft (MSFT.US), and Amazon (AMZN.US).

Earlier reports showed that SpaceX has secretly filed for an IPO, with the earliest possible listing in June. This offering could become the start of a series of “mega IPOs,” potentially followed by artificial intelligence companies such as OpenAI and Anthropic—firms that compete with xAI in the generative AI space.

On the business front, SpaceX currently holds a leading position in rocket launches and low-Earth-orbit satellite communications. Its Starlink satellite internet business and launch services remain its main revenue sources. The company expects revenue from these businesses to approach $20 billion by 2026, while xAI’s contribution is still relatively limited.

In addition, Musk is also pushing cross-company collaboration projects. Its “Terafab” plan will in the future be co-operated by SpaceX and Tesla, with the goal of producing its own chips for robotics, artificial intelligence, and space data centers.

SpaceX has selected Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, and Morgan Stanley to serve as the lead underwriters and plans to further expand the roster of underwriters.

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