SpaceX Sets Fixed Price for $75 Billion Initial Public Offering

SpaceX Sets Specific Price for Largest-Ever IPO

SpaceX, the rocket and satellite company led by Elon Musk, has taken an unconventional approach in its planned Nasdaq listing next week by setting a specific price for its shares more than a week before the expected debut. Instead of announcing a price range and revising it after investor meetings, as is customary in initial public offerings (IPOs), the company has decided to sell 555,555,555 shares at $135 apiece, which would help it raise nearly $75 billion.

According to a filing, the company is targeting a valuation of about $1.75 trillion, roughly double its valuation from six months ago. If completed at the reported valuation, the offering could become the largest IPO ever. SpaceX is expected to start trading on the Nasdaq on June 12.

The company chose to set a specific price to remove uncertainty from the process, as people close to the deal told The Wall Street Journal. This 'take it or leave it' approach is expected to simplify the road show, or the investor meetings that usually help companies test demand before an IPO.

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At the targeted valuation, SpaceX would rank among the world’s most valuable companies. The Wall Street Journal reported that a $1.75 trillion valuation would place it above Meta Platforms, Berkshire Hathaway, and Tesla, Musk’s electric vehicle company.

SpaceX reported revenue of $18.7 billion in 2025, including sales from xAI, according to its filings. Based on the reported valuation target, the company would be priced at about 93.6 times sales. By comparison, the aggregate price-to-sales ratio of the S&P 500 stood at 3.38, according to FactSet. Tesla’s price-to-sales ratio was 16.73 at the end of 2025.

SpaceX was unprofitable in 2025, reporting a loss of $4.9 billion. Its revenue came mainly from Starlink satellite internet subscriptions, rocket launches, including government contracts, and some revenue from its February acquisition of xAI, according to its filings.

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The company’s IPO preparations follow a sharp increase in its private-market valuation over the past year. The merger with xAI valued the combined company at $1.25 trillion, up from $800 billion in a December secondary sale. The December transaction more than doubled SpaceX’s valuation from July 2025, when it was valued at around $400 billion.

The company has increased its valuation through twice-a-year share sales that it has organised for investors and employees. SpaceX, founded in 2002, has not raised fresh capital since a 2022 funding round that valued the company at $125 billion. In 2020, it was valued at $36 billion. In 2015, its valuation stood at about $12 billion.

The valuation being sought by SpaceX places significant attention on the company’s future business plans. According to The Wall Street Journal, investor demand will likely depend on whether buyers believe Musk can deliver on projects such as Mars colonisation and space-based data centres. SpaceX’s current business is anchored in Starlink and launch services, while the xAI acquisition has added another revenue stream to its filings.