SpaceX is targeting a valuation of at least $1.8 trillion in its planned initial public offering, Bloomberg reported, citing people familiar with the matter, as Elon Musk’s rocket and artificial intelligence company moves closer to a historic Wall Street debut.
The target is lower than the valuation of more than $2 trillion that Bloomberg News reported in April, after consultations with advisers and investors, the people said. IPO details, including size and valuation, are often adjusted before pricing based on investor feedback.
SpaceX is seeking to raise as much as $75 billion, according to people familiar with the matter, a sum that would make it the largest IPO ever.
The company is expected to begin formal marketing of the offering as soon as June 4 and price the IPO as early as June 11, Bloomberg previously reported. The timeline could still slip by several days, the people said.
Deliberations are continuing, and SpaceX could still raise its target valuation depending on investor demand during the marketing process. A company spokesperson did not immediately respond to Bloomberg’s request for comment.
SpaceX reported $18.7 billion in revenue in 2025, up from $14 billion a year earlier. The company swung from a profit of $791 million in 2024 to a loss of $4.94 billion last year, according to the filing.
In February, SpaceX announced it had acquired Musk’s xAI, which includes the Grok chatbot and social media platform X. The deal valued SpaceX at $1 trillion at the time and xAI at $250 billion, Bloomberg reported.
Goldman Sachs, Morgan Stanley, Bank of America, Citigroup and JPMorgan Chase are leading the IPO alongside 18 other banks. SpaceX, formally known as Space Exploration Technologies Corp., is expected to list on Nasdaq and Nasdaq Texas under the ticker SPCX.