Musk’s company targets a record $75B raise and a June 12 Nasdaq debut under ticker SPCX
Elon Musk’s SpaceX is finally making its move. The rocket and satellite company is targeting a June 12 debut on the Nasdaq in what could become the largest initial public offering in history, with a valuation that may reach $1.75 trillion and a planned equity raise of approximately $75 billion.
Musk signaled the urgency himself while appearing virtually at the Samson International Smart Mobility Summit in Tel Aviv last week, saying the company needed to advance its IPO preparations without delay. According to reports citing people familiar with the matter, SpaceX could file its public S-1 registration statement as soon as this week, following a confidential SEC filing made in April. The company is targeting the Nasdaq under the ticker SPCX, with investor roadshow activity expected to begin around June 4 and share pricing potentially finalized on June 11.
5 things investors need to know about the SpaceX IPO
For anyone following this closely, the key details paint a vivid picture. 1) A planned raise of $75 billion at a $1.75 trillion valuation would instantly make SpaceX the most valuable company ever to go public, surpassing every prior IPO record, as only eight companies globally are currently valued above that threshold.
2) BlackRock is reportedly in advanced discussions to commit between $5 billion and $10 billion as an anchor investor, providing major institutional credibility before public trading begins, with Morgan Stanley, Bank of America, Citigroup, JPMorgan Chase and Goldman Sachs also expected to be involved. 3) Musk has publicly confirmed he has no plans to sell any of his SpaceX shares, a move that typically bolsters investor confidence during a high-profile listing.
4) A 5-for-1 stock split has brought the per-share fair market value from around $526 to roughly $105, making the offering more accessible to a broader range of buyers. 5) Up to 30% of IPO shares are reportedly reserved for individual retail investors, an unusually generous allocation for a listing of this scale.
SpaceX could IPO at 2 TRILLION dollars.
They hold $637 Million of Bitcoin.
SpaceX is about to be the 6th largest public company in the world… and they are bullish on Bitcoin. pic.twitter.com/lcCPxdtkPp
— Arkham (@arkham) May 18, 2026
Inside the business
SpaceX generates revenue across three primary lines. Its launch services, built on reusable rocket technology developed over more than two decades, have allowed the company to undercut competitors on cost by a wide margin. Starlink, the satellite internet service with thousands of active satellites already in orbit, has grown into a substantial global business. Government and defense contracts round out the portfolio, including the company’s role in the U.S. Space Force’s $3.2 billion space-based interceptor prototype program alongside Lockheed Martin, Northrop Grumman, RTX and Anduril.
Musk and key insiders are expected to hold Class B shares carrying 10 votes per share, preserving voting control after the company becomes public. SpaceX generated $15.6 billion in revenue last year.
NYU finance professor Aswath Damodaran has projected the company could reach $320 billion in annual revenue by 2036 with operating margins near 50%, though his calculated intrinsic value of $1.22 trillion suggests the IPO price carries a growth premium above his base case.
EchoStar riding the wave
The SpaceX IPO buzz has created an unexpected winner in EchoStar. Shares of the satellite company opened today at $137.23, near a 12-month high of $139.54, and are up more than 26% year-to-date. A year ago, the stock was trading at $14.90.
Traders have been treating EchoStar as a proxy for SpaceX exposure, partly because the company holds a stake in SpaceX that could approach $11 billion at a $2 trillion valuation. The Federal Communications Commission recently approved a $40 billion spectrum transaction involving SpaceX and AT&T, and EchoStar holds spectrum assets tied to that deal, offering a potential avenue for addressing its near-term debt obligations.
First-quarter revenue of $3.67 billion narrowly beat analyst expectations, though earnings-per-share fell short. Analyst sentiment remains mixed, with a consensus Hold rating and an average price target of $138, while New Street Research recently launched coverage with a Buy rating and a $161 target.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. The author and publication are not registered investment advisors and do not provide personalized investment recommendations.