SpaceX Targets $1.5 Trillion Valuation in June 12 IPO, Analysts Cite Rocket Monopoly Edge Over OpenAI

SpaceX will launch its initial public offering on June 12, 2026, aiming for a public market valuation of $1.5 trillion, far ahead of OpenAI’s private valuation of $852 billion. Analysts say SpaceX’s deep technical moat—built on reusable rockets and the Starlink network—gives it a structural advantage over OpenAI, whose lead in artificial intelligence is being challenged by rivals Google and Anthropic. Both companies face a stark revenue gap with trillion-dollar peers. SpaceX generated an estimated $18.7 billion in revenue last year, while OpenAI brought in $13.1 billion. By comparison, the 11 S&P 500 members with market caps above $1 trillion average over $260 billion in annual sales. SpaceX’s valuation implies investors are betting heavily on long-range visions like Mars colonization rather than near-term financials. OpenAI’s first-mover lead in large language models is narrowing as competition intensifies, eroding the pricing power and market share that could justify a trillion-dollar valuation.