TLDR

  • SpaceX is aiming to submit a confidential IPO filing to the SEC potentially by March 2026.
  • The goal is a public stock listing around June 2026, with a possible valuation exceeding $1.75 trillion.
  • The share sale might secure up to $50 billion, which would be an unprecedented IPO.
  • SpaceX’s recent merger with Elon Musk’s AI firm, xAI, has added complexity to its financial statements.
  • OpenAI and Anthropic are also considering IPOs in 2026, targeting valuations of $750B–$830B and approximately $350B each.

According to a Bloomberg report, Elon Musk’s aerospace company SpaceX is gearing up to confidentially submit IPO paperwork to the U.S. Securities and Exchange Commission potentially in March 2026.

This confidential submission would position the firm for a market debut as soon as June 2026. Insiders indicate SpaceX may pursue a valuation surpassing $1.75 trillion.

Such a valuation would place SpaceX among the planet’s most valuable corporations by market capitalization, alongside giants like Apple, Microsoft, Alphabet, and Amazon.

The IPO could generate as much as $50 billion, establishing it as the biggest initial public offering ever recorded. No previous listing has approached this scale of capital raising.

Headquartered in Starbase, Texas, SpaceX runs the Falcon 9 rocket program and the Starlink satellite broadband service, which has a global customer base in the millions.

The firm conducts over 50% of all orbital launches worldwide. It significantly reduced the expense of space access by developing reusable rocket technology.

SpaceX’s estimated Ebitda profit margins are reportedly as high as 50%. In contrast, the average Ebitda margin for aerospace firms in the S&P 500 is about 20%.

Company leadership previously stated Starlink was profitable in 2024, with only about half its current user base. The launch division is also broadly anticipated to be profitable due to its efficient cost model.

The xAI Complication

SpaceX recently completed a merger with Musk’s artificial intelligence venture, xAI. This transaction integrates SpaceX’s space operations with xAI’s artificial intelligence computing activities.

xAI is not currently profitable and competes in a fiercely competitive, capital-intensive sector. The merger complicates the evaluation of SpaceX’s complete financial health before the public offering.

The combined company might produce up to $10 billion in Ebitda for 2026, but this projection is contingent on how xAI’s financial deficits impact the merged entity’s results.

A confidential filing allows the company to address regulatory specifics with the SEC privately before disclosing its finances. Firms are required to wait a minimum of 15 days after public disclosure of documents before launching their investor roadshow.

More Big IPOs Could Follow

SpaceX could lead a series of major technology IPOs in 2026. OpenAI is reportedly looking at a valuation range of $750 billion to $830 billion.

Anthropic, a company focused on AI safety, is planning to raise about $10 billion at an estimated $350 billion valuation. Both firms are monitoring SpaceX’s IPO progress.

SpaceX has not officially verified or addressed the reports about its IPO filing intentions. Plans are still fluid and the company may postpone its submission.