A $75B IPO and a lower price tag: SpaceX adjusts its market debut plans
Synopsis
SpaceX has lowered its IPO valuation target to at least $1.8 trillion, though the offering could still become the largest in history. The company reported $18.7 billion in revenue during 2025 and is seeking up to $75 billion as investors assess technology valuations and opportunities across the expanding space economy.
SpaceX reduced its IPO valuation target to at least $1.8 trillion while pursuing a potential $75 billion listing. The move comes amid investor scrutiny of large technology valuations and growing space-sector investment.
Key Highlights
- SpaceX lowered its IPO valuation target to at least $1.8 trillion.
- The company is reportedly seeking to raise up to $75 billion.
- Revenue increased to approximately $18.7 billion during 2025.
- SpaceX posted a net loss of about $4.94 billion after higher investment spending.
- Global space economy forecasts project growth to $1.8 trillion by 2035.
SpaceX has cut back its valuation range for the initial public offering (IPO) that it plans to be making, and lowered it to at least $1.8 trillion down from the previously mentioned valuation of above $2 trillion with investors.
It follows the ongoing investigation by global equity markets of valuations of big tech and AI firms, while demand for infrastructure, connectivity and space-based services remains robust.
Smaller Target, Record Ambitions
The revised goal hasn't stopped the proposed SpaceX IPO from being expected to be the largest public offering ever attempted.
The listing is expected to bring in up to $75 billion for the company. The investor presentations will start to begin in June with final pricing to be determined based on market demand and feedback from institutional investors.
The revised valuation target is the result of continuing negotiations with the company and advisers and prospective buyers.
Revenue Rises, Profitability Turns Negative
SpaceX's revenue increased to around $18.7 billion in 2025 from $14 billion in 2024, according to documents filed recently.
In 2025, the company made about a $4.94 billion loss, whereas they made about a $791 million profit a year before. The shift was associated with higher investments in artificial intelligence equipment and growth initiatives, along with longer-term AI development initiatives.
SpaceX's satellite internet enterprise Starlink continued to be one of the company's biggest contributors to revenue.
Space Industry Growth Remains a Key Theme
The IPO comes as a result of the governments and private investors expanding their investments in satellite communications, launch services and space infrastructure.
The global space economy could be worth $1.8 trillion by 2035, having increased from approximately $630 billion in 2023, according to the report by the World Economic Forum and McKinsey, entitled Space: The $1.8 Trillion Opportunity for Global Economic Growth.
It's a trend that's becoming more relevant for the countries investing in their sovereign satellite capabilities, communications resilience and commercial launch partnerships. Australia has increased its funding of its own space projects via the Australian Space Agency and NASA still uses commercial operators for launch and space-related projects.
At the new valuation, SpaceX would still be one of the world's most valuable publicly traded companies, further proof that investors are interested in satellite connectivity companies, launch services companies and space infrastructure companies.
FAQs
Q1. Why did SpaceX cut its IPO valuation target?
SpaceX reportedly lowered its target to at least $1.8 trillion following discussions with advisers and potential investors ahead of the planned listing.
Q2. How much could SpaceX raise through its IPO?
The company is reportedly seeking up to $75 billion, which would make it the largest IPO ever completed.
Q3. Is SpaceX still one of the world's most valuable companies at the new valuation?
Yes. Even at a $1.8 trillion valuation, SpaceX would rank among the most valuable publicly traded companies globally.
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Pooja Malik is a business journalist with over six years of experience covering startups, entrepreneurship, and emerging trends. She has previously worked with leading media platforms such as YourStory Media and BW BusinessWorld, where she reported on business, policy, and market developments. Currently, she serves as Editor at The Inspirepreneur Magazine, where she writes and edits stories across business, lifestyle, and travel, with a focus on clarity, accuracy, and reader relevance.
