SpaceX Sets $1.75 Trillion Valuation for June 12 IPO as Musk Unveils Lunar Data Centers and Mars City Plans

SpaceX will launch its initial public offering on June 12, 2026, seeking to raise $75 billion at a $1.75 trillion valuation in what is expected to be the largest IPO ever. CEO Elon Musk detailed the plans Thursday night during a JPMorgan Chase investor event in Manhattan, telling CEO Jamie Dimon the company needs capital for a new phase of massive expansion. Musk said SpaceX has been cash-flow positive since about 2014, but building lunar and Martian cities and launching 100,000 additional satellites demands fresh funding. He highlighted plans to construct space-based AI data centers, arguing Earth can add only about one terawatt of AI computing power annually while the moon could support 1,000 terawatts or more. Proceeds will also expand the Starlink satellite internet service. JPMorgan broadcast the event to 90 branches, with 350 investors attending in person. Goldman Sachs and Morgan Stanley are lead underwriters for the IPO, while 21 other financial institutions are assisting. Musk’s mother, Maye Musk, also attended the event.