SpaceX Considers June 2026 IPO with $1.5 Trillion Valuation - FT

• The proposed $50 billion raise would exceed Saudi Aramco's record $29 billion IPO, though Aramco's $1.7 trillion market cap remains the only completed deal above $1 trillion valuation
• SpaceX's growing valuation and success of its Starlink satellite-internet service have prompted reconsideration of going public, with four Wall Street banks lined up for leading roles
• The timing aligns with a broader rebound in U.S. equity markets in 2025 after three years of limited activity, with AI firms Anthropic and OpenAI also preparing potential IPOs

SpaceX IPO Summary

Key Details

Elon Musk's SpaceX is considering a mid-June 2026 initial public offering targeting a $1.5 trillion valuation and raising up to $50 billion, according to Financial Times sources. This would represent the largest IPO in history by deal size, surpassing Saudi Aramco's $29 billion offering in 2019, which achieved a $1.7 trillion market capitalization—the only completed deal exceeding $1 trillion valuation.

Corporate Development

SpaceX CFO Bret Johnsen has engaged with existing private investors since December through meetings and Zoom calls to explore the mid-2026 listing. The company has reportedly lined up four Wall Street banks for leading underwriting roles. Reuters could not independently verify the report, and SpaceX did not respond to comment requests.

Strategic Shift

This potential IPO marks a significant pivot for Musk, who has historically preferred keeping SpaceX private. The company's growing valuation and the success of its Starlink satellite-internet service have reportedly influenced reconsideration of the public markets.

Market Context

Global financial markets are preparing for a wave of major U.S. listings in 2026, with AI firms Anthropic and OpenAI also laying groundwork for potential IPOs. The U.S. equity capital market has rebounded in 2025 after three years of limited activity caused by volatility and geopolitical tensions.

Sector Implications

Space technology remains a tightly held sector with strong investor demand due to rapid development prospects. A successful SpaceX IPO would provide unprecedented public market access to the space industry, potentially catalyzing further sector activity and valuations.