SpaceX is reportedly pursuing an IPO in 2026, targeting proceeds of more than $25 billion and a valuation above $1 trillion, according to a source cited by Reuters.
The same source said SpaceX has started discussions with banks and the listing could land around June or July 2026.
Use-of-proceeds is unusually specific for an IPO rumor cycle: Reuters reported SpaceX expects to direct IPO funds toward building space-based data centers, including buying the chips required to run them, an idea Musk discussed at a recent Baron Capital event per Bloomberg reporting.
On operating scale, Bloomberg figures peg SpaceX revenue at about $15 billion in 2025, rising to between $22 billion and $24 billion in 2026, with the majority coming from Starlink.
That implies a $7 billion to $9 billion step-up year over year from 2025 to 2026, or roughly 47% to 60% growth off the $15 billion base.
Strategically, Musk commented in 2020 that SpaceX planned to list Starlink “several years in the future” once revenue growth became “smooth & predictable,” a phrasing that reads like a gating metric now being tested against the 2025–2026 ramp cited above.
Media reports last week talked about a secondary share sale valuing SpaceX at $800 billion, which Musk dismissed as inaccurate.
On comps, Saudi’s Aramco is considered the only completed IPO to reach a $1 trillion valuation, debuting in December 2019 at an estimated $1.7 trillion market cap.
Information for this story was found via Reuters and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
