SpaceX reportedly targets IPO and tests $800B valuation

Core Insights - SpaceX is preparing for a potential IPO in the second half of 2026, with a valuation target of approximately $800 billion, which is significantly higher than previous private trading ranges [2][5] - The company has been conducting regular insider sales to provide liquidity for employees and early investors, which indicates a growing pressure on its capital structure [4] - The IPO plan suggests a combined listing that includes various segments of the business, such as rockets and Starlink, aiming for a comprehensive "space infrastructure" offering [6][7] Valuation and Market Position - The proposed $800 billion valuation would elevate SpaceX into the mega-cap category, surpassing OpenAI's recent valuation of $500 billion and reclaiming the title of the world's most valuable startup [5] - Insider sales may reflect a valuation closer to $560 billion if shares clear at around $300 each, indicating ongoing negotiations and market positioning [2][5] Business Performance and Revenue - SpaceX's Starlink service is projected to generate an annual run rate of approximately $12 billion, catering to underserved markets [7] - The company anticipates revenue of about $15.5 billion by 2025, with its commercial space revenue reportedly rivaling or exceeding NASA's spending on similar services [7]