A360
Key Takeaways✦ Atlas AI
01
SpaceX targets $1.75 trillion IPO valuation.
02
Starlink drives current revenue; AI is future focus.
03
IPO coincides with Starship rocket test flight.
Atlas AI
SpaceX, the aerospace manufacturer founded by Elon Musk, filed for an initial public offering (IPO) on Wednesday, May 20, 2026, with a share sale anticipated as early as June 11. The filing indicates a potential valuation of $1.75 trillion, which would position SpaceX as one of the world's most valuable publicly traded companies, following Tesla in Musk's portfolio to exceed $1 trillion in market capitalization.
This move could precede other significant technology IPOs, including those from OpenAI and Anthropic.
Elon Musk
The company's regulatory disclosure highlights its reliance on Starlink satellite internet services, which generated most of its $18.67 billion revenue last year from approximately 10,000 satellites. SpaceX's long-term growth strategy, however, is increasingly tied to artificial intelligence (AI) and related infrastructure, despite its nascent xAI unit currently operating at a loss.
Elon Musk
The company projects a potential total market of $28.5 trillion across its businesses, with a majority linked to AI.
The IPO filing coincides with a critical period for SpaceX, as it prepares for a test flight of its next-generation Starship rocket. This rocket is central to the company's ambitions for lunar and Mars missions and the expansion of its Starlink network. The targeted $1.75 trillion valuation, if achieved, would surpass Saudi Aramco's 2019 IPO, which was valued at $1.7 trillion.
