SpaceX Cuts IPO Valuation to $1.8 Trillion, Aims for Mid-June Listing (SPCX)

SpaceX has lowered its initial public offering target valuation to at least $1.8 trillion, down from earlier expectations of over $2 trillion, people familiar with the matter said on May 31, 2026. The company plans to raise as much as $75 billion in what would be the largest IPO in history, with a stock symbol of SPCX. Roadshows could begin as early as June 4, and pricing and listing are expected around June 11. SpaceX disclosed its first financials, reporting 2025 revenue of $18.67 billion, a 33% jump boosted by its Starlink satellite internet service. The company remained unprofitable as it pours cash into rocket development, satellite deployment and artificial intelligence. The valuation adjustment is seen by analysts as a strategic move to improve IPO success and subsequent stock performance, rather than a sign of weakening prospects. The company also won a $4.16 billion contract from the U.S. Space Force to build a next-generation space sensing system for missile tracking. However, the Federal Aviation Administration ordered a flight pause of its Starship V3 rocket after a propulsion anomaly during a test mission on May 22.