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SpaceX is preparing to raise US$75 billion in its initial public offering through the sale of 555.6 million shares priced at a target of US$135 each, according to a source familiar with the matter, in what is shaping up to be one of the most closely watched market debuts in recent history.
The figure confirms earlier reporting that the rocket and satellite communications company is seeking to raise at least US$75 billion, implying a potential valuation of around US$1.75 trillion, placing it among the most valuable private companies ever to approach public listing.
The move signals a major shift in global capital markets, which are preparing for a resurgence in large-scale listings after several years of subdued activity in high-value initial public offerings.
Reuters reported on Wednesday that SpaceX is widely regarded by analysts as one of the most significant potential listings alongside artificial intelligence firms such as OpenAI and Anthropic.
A source familiar with the transaction said the proposed pricing structure is unusually specific for this stage of the process.
The target price of US$135 per share is considered highly atypical ahead of a formal IPO roadshow, during which companies typically present a price range rather than a fixed figure while gauging investor appetite.
The company is scheduled to begin its roadshow on Thursday, marking the start of a global investor marketing campaign that is expected to be one of the most closely scrutinised in years.
Under normal market practice, a final share price is usually set only shortly before trading begins, following investor feedback gathered during roadshow presentations led by investment banks.
The upcoming roadshow will allow prospective investors to engage directly with SpaceX executives as underwriters seek to build demand for what could become a record-setting US$75 billion order book.
Reuters previously reported that SpaceX is considering allocating up to 30 per cent of the offering to retail investors, an unusually large proportion for a deal of this scale. The strategy is seen as an attempt to leverage widespread public interest in Elon Musk and broaden shareholder participation beyond institutional investors.
The valuation of the company is based in part on expectations that SpaceX will continue to dominate emerging markets in advanced space technologies, including Mars exploration initiatives and potential space-based artificial intelligence infrastructure.
However, analysts note that much of the company’s long-term valuation is tied to technologies and commercial applications that remain largely theoretical or in early development, underscoring both the ambition and risk embedded in the offering.
If successful, the listing would mark one of the most consequential IPOs in modern financial history, cementing SpaceX’s position at the centre of global aerospace, satellite communications and next-generation space economy ambitions. - June 3, 2026
