SpaceX has reportedly begun early discussions with investment banks over a possible mid-year listing window. Bloomberg first reported that the company aims to raise “well above” $25 billion, while Reuters cited sources placing the target closer to $30 billion. The listing is expected to include both SpaceX’s launch operations and its satellite-internet division, Starlink, reversing earlier speculation of a separate spin-off.
The company has declined to comment publicly on the reports. Its president and chief operating officer, Gwynne Shotwell, previously said that an IPO would only proceed once Starlink’s revenue had become “predictable and stable”. Recent investor briefings project revenue of around $15 billion for 2025, rising to as much as $24 billion in 2026, driven largely by satellite-broadband expansion.
If confirmed, the offering would mark one of the largest ever seen on public markets. The last comparable listing — Saudi Aramco in 2019 — raised $29 billion and briefly valued the oil giant at more than $1.7 trillion. A SpaceX float approaching $1 trillion would immediately position the company among the world’s most valuable enterprises, rivalling Apple, Microsoft, and Nvidia.
Market analysts say the timing reflects both investor optimism and an expected rebound in US equity issuance after two years of subdued activity. A number of late-stage technology businesses, including Stripe and Databricks, are also reported to be assessing 2026 listings as confidence returns to growth-oriented stocks.
For the space sector, the move could prove transformative. A SpaceX IPO would offer public-market exposure to orbital infrastructure for the first time in more than a decade, providing a transparent benchmark for valuations across launch, satellite-communications, and space-data markets. It may also accelerate funding into companies building related ecosystems — from propulsion and component suppliers to data-processing providers.
However, regulatory and national-security considerations could influence the structure of any eventual listing. SpaceX’s work with NASA and the US Department of Defense means scrutiny from the Securities and Exchange Commission and the Committee on Foreign Investment in the United States is likely, particularly concerning foreign shareholder participation.
Until formal filings are made, the scale of the float and its timing remain unconfirmed. But if the company proceeds, it would mark a defining moment for commercial space — shifting one of the world’s most closely held private enterprises into the glare of public markets.
