SpaceX Planning IPO in 2026, Aims for $800 bn Valuation

SpaceX is laying the groundwork for a public listing next year and could aim for a valuation of about $800 billion, according to a letter sent to shareholders by chief financial officer Bret Johnsen.

The contents of the letter were revealed in a Reuters report, though speculation about Elon Musk’s space company pursuing an IPO has been circulating in US media for the past week. According to the news agency, SpaceX’s listing could be among the largest globally, fuelled by the fast-growing Starlink satellite internet business.

This includes plans to roll out direct-to-mobile connectivity, alongside advances in the Starship rocket programme aimed at future missions to the Moon and Mars.

In the December 12 letter, Johnsen said SpaceX has cleared a deal under which the company, along with new and existing investors, will purchase up to $2.56 billion worth of shares from eligible shareholders at a price of $421 per share.

“We are preparing the company for a possible IPO in 2026. Whether it actually happens, when it happens, and at what valuation are still highly uncertain, but the thinking is that if we execute brilliantly and the markets cooperate, a public offering could raise a significant amount of capital,” Johnsen said.

SpaceX plans to channel the funds into accelerating the launch cadence of its Starship rockets, setting up AI-powered data centres in orbit, developing Moonbase Alpha, and supporting both robotic and human missions to Mars.

Earlier this week, Elon Musk hinted at the possibility of a SpaceX stock market debut in a post on social media platform X. While he dismissed Bloomberg and Wall Street Journal reports claiming the company could raise about $30 billion, he did not rule out an IPO.

A Reuters report said the space launch and satellite firm is seeking to raise more than $25 billion through an initial public offering that could take place as early as June.

Market participants have reacted positively to indications that an IPO could help finance Musk’s long-term Mars ambitions, potentially pushing the company’s valuation above $1 trillion. According to Crunchbase, SpaceX is currently the world’s second most valuable private startup, behind OpenAI, the company behind ChatGPT.

SpaceX to Join Listed Rivals

SpaceX would join a growing number of publicly listed companies with a strong presence in the global aerospace industry. Once seen as a sector with steep capital and technological barriers, the industry was traditionally dominated by government-led space programmes.

Boeing Co. is a major US aerospace group spanning commercial aviation, defence and space, and is involved in NASA’s Artemis programme aimed at returning humans to the Moon.

Europe’s Airbus SE operates globally through its Airbus Defence and Space unit, which builds satellites and launch systems. The company is a key partner of the European Space Agency and a contributor to the International Space Station.

US defence giants Lockheed Martin Corp. and Northrop Grumman Corp. also play central roles, with capabilities ranging from deep-space missions to cargo spacecraft servicing the ISS.

Rocket Lab Corp. focuses on launching small satellites and is developing its Neutron rocket for medium-lift missions. As of November 2025, it had completed 74 Electron launches, second only to SpaceX among private operators.

Virgin Galactic Holdings Inc., backed by British billionaire Richard Branson, targets the space tourism market with suborbital flights for private customers.

Other listed names include Planet Labs PBC, which operates a large Earth-observation satellite constellation, and AST SpaceMobile Inc., which is building a space-based network to enable mobile connectivity.