SpaceX (SPAX.PVT) CEO Musk Reveals $75B IPO Plans to Fund Space AI, Mars Expansion

On June 4, 2026, at a JPMorgan Chase investor event, SpaceX CEO Elon Musk detailed plans for space-based AI data centers, lunar cities, and Mars colonization, asserting that a $75 billion initial public offering is needed to fund this capital-intensive phase. The rocket company expects to list on June 12, 2026, at a $1.75 trillion valuation, marking Wall Street’s largest-ever IPO. SpaceX has been cash-flow positive since 2014–2015, according to Musk, but the new growth phase requires massive capital. “We can do one terawatt per year of AI space compute from Earth, but we can do 1,000 terawatts or more from the moon,” Musk told JPMorgan CEO Jamie Dimon. Proceeds will also deploy 100,000 new Starlink satellites and expand internet services. The JPMorgan event followed a similar roadshow by Bank of America for SpaceX COO Gwynne Shotwell. Underwriters for the IPO include 23 major banks, with Goldman Sachs and Morgan Stanley leading. Bank executives are vying for prestige and future business as SpaceX’s offering reshapes the IPO landscape.