SpaceX valued at $1.75tn as it nears Nasdaq IPO debut; $75bn raise

Elon Musk’s SpaceX has disclosed a target per-share price ahead of its planned IPO, implying a company valuation of about $1.75 trillion and a proposed fundraising of roughly $75 billion, with the shares expected to trade on Nasdaq under the symbol SPCX.

According to investor communications and reporting, the company indicated a prospective IPO price of $135 per share and plans to offer approximately 555.6 million shares; underwriters’ overallotment (greenshoe) could expand the deal size if demand supports it. Recent filings and summaries also show SpaceX’s 2025 revenue rose to $18.67 billion while the company swung to a net loss, highlighting a complex financial profile for potential public investors.

Market participants say the sheer scale of the proposed offering and the relatively small initial free float could drive intense intraday moves at debut, with pricing dynamics shaped by anchor investor demand and roadshow feedback. The accelerated timeline for the IPO has increased focus on price discovery and whether the market will absorb such a large new issuance without repricing comparable tech and aerospace names.

Strategically, SpaceX positions the IPO proceeds to support expansion of Starlink connectivity, further Starship development and investments in AI compute capabilities; however, some of these initiatives remain capital-intensive and carry execution risk. Analysts note that while Starlink provides a recurring-revenue backbone, unproven ventures such as orbital AI infrastructure and lunar-related activities make portions of the valuation inherently forward-looking.

Analysts and institutional investors will be watching subscription levels, lock-up terms and corporate governance details closely. Many expect short-term volatility at listing, with medium-term performance hinging on the company’s ability to translate Starlink growth and Starship milestones into predictable cash flow; ultimately, investor appetite during the bookbuild will determine whether the $1.75tn target is sustained.