SpaceX IPO Targets $75B Raise, $1.8T Valuation

SpaceX filed a prospectus indicating plans for an initial public offering around June 11–12 that would seek up to $75 billion in proceeds and target a market valuation near $1.8 trillion. The filing lists uses of proceeds including satellite network expansion, AI computing infrastructure and rocket development.

The prospectus reports approximately $18.7 billion in revenue for the last year and shows material net losses. The filing attributes the losses mainly to increased spending on artificial intelligence after the company acquired xAI and expanded the Grok platform, including investment in data centers and computing hardware.

The document details planned investments in AI computing and data centers, continued development of the Starlink satellite internet network, rocket manufacturing and broader space operations. The filing describes each area as requiring ongoing capital to support product development and network growth.

SpaceX’s business mix in the prospectus includes commercial launch services, the Starlink satellite internet business, the AI unit formed through the xAI acquisition and activities tied to the broader technology holdings associated with the company. The filing presents revenue growth across those lines while showing the need for additional funding to reach sustained profitability.

The prospectus says retail investors may have broader access than is typical for a deal of this scale, with several brokerages expected to allow direct participation. It also warns that demand could exceed available shares and that allocations may be limited for many applicants.

The filing and related documents indicate a roadshow and a final pricing range will come next; pricing could occur on June 11 with trading to begin shortly after. The prospectus provides financial statements and timelines for investors to review before the roadshow and pricing announcements.