Key Takeaways
- Confidential SEC filing expected from SpaceX as soon as March 2026
- Company targeting June 2026 public market debut with possible $1.75 trillion+ valuation
- Capital raise could hit $50 billion, shattering all previous IPO records
- Recent xAI merger adds complexity to SpaceX’s financial reporting
- Two major AI firms, OpenAI and Anthropic, also planning 2026 listings with valuations of $750B–$830B and ~$350B
Elon Musk’s aerospace venture SpaceX is gearing up to submit confidential initial public offering paperwork to the Securities and Exchange Commission by March 2026, Bloomberg has reported.
This anticipated filing would position the company for a public debut by June 2026. According to individuals with knowledge of the plans, the rocket manufacturer is targeting a market valuation exceeding $1.75 trillion.
At that valuation level, SpaceX would immediately become one of the most valuable publicly traded corporations worldwide. The company would join an elite group alongside tech and semiconductor leaders like Apple, Microsoft, Alphabet, Amazon, and Nvidia.
The public offering could secure as much as $50 billion in fresh capital, establishing a new benchmark as the biggest IPO ever recorded. No prior company has managed to raise anywhere near this amount through a single public listing.
Headquartered in Starbase, Texas, SpaceX runs the Falcon 9 launch system alongside its Starlink satellite broadband service, which now connects millions of subscribers around the world.
The aerospace firm accounts for more than half of all orbital launches conducted globally. Its breakthrough reusable rocket technology dramatically reduced the expense of space access.
Industry analysts estimate SpaceX achieves Ebitda profit margins approaching 50%. By contrast, typical aerospace firms listed in the S&P 500 generate Ebitda margins closer to 20%.
Company leadership previously indicated that Starlink turned profitable during 2024, when its subscriber count was roughly half of current levels. The launch division is similarly believed to operate profitably based on its economic model.
The xAI Integration Challenge
SpaceX completed a merger with Musk’s AI venture xAI in recent months. This combination unites SpaceX’s launch and satellite infrastructure with xAI’s artificial intelligence computing operations.
xAI currently appears unprofitable and competes in an intensely competitive sector requiring substantial capital investment. The merger complicates efforts to evaluate SpaceX’s consolidated financial health before going public.
Projections suggest SpaceX might produce up to $10 billion in Ebitda during 2026, although this estimate varies based on how xAI’s operating losses impact the merged organization.
Confidential filing procedures allow companies to resolve regulatory questions with SEC officials before releasing financial statements publicly. Regulations require a minimum 15-day waiting period between public disclosure and commencing the IPO marketing roadshow.
Additional Major Tech Listings on Horizon
SpaceX appears poised to lead a trio of significant technology IPOs during 2026. OpenAI reportedly seeks a market valuation ranging from $750 billion to $830 billion.
Anthropic, focused on AI safety research, may pursue approximately $10 billion in funding at a valuation approaching $350 billion. Both organizations are monitoring SpaceX’s IPO progress with considerable interest.
SpaceX has not issued any official statement or confirmation regarding these IPO filing plans. All details remain preliminary and the company retains flexibility to modify its timeline.
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