SpaceX Lowers IPO Valuation Target to $1.8 Trillion, Aims for June Debut on Nasdaq Under Symbol SPCX

SpaceX is now targeting a valuation of at least $1.8 trillion in its initial public offering, down from an earlier goal above $2 trillion, according to people familiar with the matter. The rocket and AI company plans to raise as much as $75 billion, which would rank as the largest IPO in history. Formal marketing is expected to start as soon as June 4, with pricing as early as June 11, though the timeline could slip by days. The company, formally Space Exploration Technologies Corp., will list on Nasdaq and Nasdaq Texas under the ticker SPCX. SpaceX’s IPO filing on May 20 highlighted its evolution from reusable rockets and satellite internet to AI services, with an addressable market pegged at $28.5 trillion. The company reported $18.7 billion in revenue for 2025, up from $14 billion in 2024, but swung to a $4.94 billion loss from a $791 million profit the prior year. It recently acquired Elon Musk’s xAI, which houses the Grok chatbot, in a deal that valued SpaceX at $1 trillion. Goldman Sachs, Morgan Stanley, and JPMorgan are among the 21 banks leading the offering.