SpaceX Files for IPO Targeting $1.75 Trillion Valuation, Nasdaq Debut Set for June 11

TL;DR: SpaceX filed for an IPO targeting a $1.75 trillion valuation, planning to list on Nasdaq as SPCX around June 11.

Context: SpaceX, founded in 2002, has become the world’s largest space business, driven mainly by its Starlink satellite broadband network. Last year the company reported $18.67 billion in revenue, with roughly 10,000 Starlink satellites providing internet to consumers, governments and enterprises. Its reusable‑rocket technology has lowered launch costs and forced competitors to catch up.

Key Facts: The S‑1 filing shows a target valuation of $1.75 trillion, which would exceed Saudi Aramco’s 2019 IPO of $1.7 trillion and make SpaceX the second Musk‑led company to top $1 trillion after Tesla. SpaceX intends to list on the Nasdaq exchange under the ticker SPCX, with Goldman Sachs, Morgan Stanley, Bank of America, Citigroup and JP Morgan as bookrunners. The offering could raise more than $75 billion, and a portion of shares is earmarked for retail investors.

What It Means: At $1.75 trillion, SpaceX’s implied market cap would be about 2.2 times Tesla’s current market cap of roughly $800 billion, representing a 120 % premium over the EV maker. The valuation implies a revenue multiple of about 94× based on last year’s $18.67 billion sales, reflecting investor expectations for future growth from Starlink, AI‑related space data centres and Mars colonisation plans. While the filing notes that SpaceX’s nascent xAI unit remains unprofitable, the company says its total addressable market could reach $28.5 trillion, with a majority tied to AI.

Forward‑looking line: Investors will watch the pricing of the IPO, the first‑day trading performance of SPCX, and any updates on SpaceX’s Starship test flights that could affect near‑term revenue prospects.