SpaceX Prepares the IPO of the Decade: Wall Street Is Betting Not on Rockets, but on the Infrastructure of the Future
Elon Musk’s SpaceX could become the biggest financial story of the year — and possibly the largest IPO in history. According to Reuters, the company has confidentially filed for a U.S. stock market listing and may go public with a valuation of around $1.75 trillion. The offering could raise as much as $75 billion, potentially surpassing the record-breaking Saudi Aramco IPO.
The key reason behind such a valuation is no longer just Falcon rockets or ambitions to reach Mars. Investors increasingly see SpaceX as a global infrastructure company. Its most valuable asset is Starlink, the satellite internet business with millions of subscribers, defense contracts, and recurring revenue streams. Analysts believe Starlink is what makes the trillion-dollar valuation even remotely plausible.
Reuters also reports that SpaceX is aiming for a Nasdaq debut on June 12, 2026, while shareholders recently approved a 5-for-1 stock split. The estimated fair value per share after the split fell from $526.59 to $105.32, a move often designed to make shares psychologically more accessible to retail investors.
But the SpaceX IPO is no longer just a space story. Following its merger with xAI, the company is increasingly viewed as part of Musk’s broader ecosystem combining satellites, defense, artificial intelligence, data centers, and global communications. Anthropic recently announced a partnership with SpaceX involving the Colossus 1 data center, which is expected to provide more than 300 megawatts of capacity and over 220,000 Nvidia GPUs.
Another headline-grabbing element is AI coding platform Cursor. According to AP, SpaceX has the right to acquire Cursor for $60 billion later in 2026 or pay $10 billion for a strategic partnership.
Major risks remain: the enormous valuation, Musk’s unpredictability, Starship delays, regulatory scrutiny, and the challenge of combining aerospace and AI businesses under one corporate umbrella. Still, if investors embrace the story, SpaceX could prove that space is no longer science fiction, but a new financial and technological infrastructure of the 21st century.
Author: Anna Prikhodko