New York, June 3, 2026, 11:22 (EDT)
SpaceX, led by Elon Musk, will set a fixed IPO price of $135 per share ahead of meetings with investors, according to a source cited by Reuters. The listing would raise $75 billion and put the company’s value near $1.75 trillion. SpaceX is looking to offer 555.6 million shares, the source said.
SpaceX is gearing up for its first public share sale, with a roadshow kicking off Thursday and a Nasdaq listing possible as soon as June 12. The stock is set to trade under the ticker SPCX. It’s an all-primary offering, so the company will sell new shares to raise money, not allow current holders to sell. Goldman Sachs, Morgan Stanley, BofA Securities, Citigroup, and J.P. Morgan are named as joint book-runners.
SpaceX’s S-1, flagged by Bloomberg on May 20, is now what the market is using as the main guide for the upcoming stock listing. The Bloomberg newsletter pointed to investor focus on the deal’s banks, Musk’s grip on the company and financial details. SEC records show the S-1 hit on May 20 at 4:40 p.m. ET.
Morningstar Canada, pointing to the prospectus, said SpaceX turned in $18 billion of revenue for 2025 with a net loss of $4.9 billion and EBITDA at $6.58 billion. EBITDA tracks earnings before interest, taxes, depreciation and amortization. The research firm also said SpaceX revenue increased 15% from a year ago in the first quarter of 2026.
Starlink is driving most of the growth right now. Fortune said the satellite-internet arm made up more than two-thirds of revenue and posted $1.2 billion in profit last quarter. SpaceX’s space and AI units posted losses. The filing said Musk holds 85% of voting power with special Class B shares.
Starlink may shake up the $1.6 trillion U.S. communications sector, Oppenheimer said Wednesday, pointing to risks for broadband players like AT&T, Verizon, and T-Mobile if subscriber and revenue losses speed up. The competitive pressure, Oppenheimer says, goes well beyond rockets.
Valuation is tricky here. Morningstar equity analyst Nicolas Owens and equity director Suryansh Sharma set SpaceX’s fair value at $780 billion, saying the company’s worth relies on “novel revenue streams” with “highly uncertain” timing and results. They also flagged that the plan for a space-based AI data center “requires some unproven engineering.” Business Insider
Investors get a straightforward pitch: Starlink is profitable now, with rockets and AI lined up for the future, all under Musk. That could draw strong demand. But with a fixed price, the market has less chance to react before the shares open trading.
