SpaceX weighs June 2026 IPO at $1.5 trillion valuation, FT reports

• CFO Bret Johnsen has held discussions with existing private investors since December 2025 to explore the IPO, with four Wall Street banks being lined up for leading roles
• The $1.5 trillion valuation would make SpaceX only the second company ever to achieve a trillion-dollar-plus valuation at IPO, after Saudi Aramco's $1.7 trillion market cap in 2019
• The potential listing comes amid a rebound in U.S. equity capital markets in 2025 after three years of limited activity, with other major tech firms like Anthropic and OpenAI also exploring IPOs

Summary

Key Development: SpaceX is considering a mid-June 2026 initial public offering targeting a $1.5 trillion valuation with plans to raise up to $50 billion, according to Financial Times sources. The company has not confirmed these reports.

Historic Positioning: If executed, this would become the largest IPO in history by deal size, surpassing Saudi Aramco's 2019 offering of $29 billion at a $1.7 trillion market cap—currently the only completed deal exceeding $1 trillion valuation.

Strategic Shift: Despite CEO Elon Musk's historical preference for keeping SpaceX private, the company's growing valuation and success of its Starlink satellite-internet service have prompted reconsideration. CFO Bret Johnsen has been conducting discussions with existing private investors since December 2025.

Market Context: SpaceX has reportedly engaged four Wall Street banks for leading underwriting roles. The potential listing comes amid a broader rebound in U.S. equity capital markets in 2025 after three years of subdued activity due to volatility and geopolitical tensions.

Sector Implications: The space technology sector, while tightly held, is attracting strong investor interest due to rapid development prospects. SpaceX's IPO could catalyze additional mega-listings in 2026, alongside potential offerings from AI firms Anthropic and OpenAI.

Investment Significance: This listing would provide rare public market exposure to the space technology sector, offering investors access to a company at the forefront of rocket technology and satellite communications infrastructure. The timing suggests confidence in sustained market appetite for large-cap technology offerings.