SpaceX targets $1.75 trillion valuation in potential record U.S. IPO

SpaceX is targeting a valuation of about $1.75 trillion in its planned initial public offering, Reuters reported May 15, 2026, a debut that could become the largest U.S. IPO on record and surpass listings by Alibaba, Visa and Meta Platforms. The proposed valuation reflects investor expectations for rapid growth at Elon Musk’s rocket and satellite company, but analysts said SpaceX may face pressure to justify the price with sharply higher revenue and slower cost growth. Some major past IPO candidates entered public markets with larger revenue bases and clearer profit profiles. Jay Ritter, a University of Florida professor who tracks U.S. IPOs, said companies going public at high valuations require “lots of things” to go right. “Revenue has to grow enormously, and costs have to grow more slowly,” Ritter said. “Most of the time, things don’t go according to plan.”