Elon Musk's SpaceX chases a $1.5 trillion IPO

Group 1 - SpaceX is preparing for a mid- to late-2026 IPO that could raise over $30 billion at a valuation of approximately $1.5 trillion, potentially making it the largest stock-market debut in history [1][2] - The IPO will encompass the entire SpaceX operation, including rockets, Starlink satellites, and a growing defense business, rather than just the Starlink unit [2][3] - Analysts project revenues of around $15 billion in 2025 and $22 billion to $24 billion in 2026, primarily driven by Starlink, suggesting a valuation of 60 to 70 times next year's sales [2][3] Group 2 - A portion of the IPO proceeds is intended for space-based data centers and related technology, aiming to establish low-Earth orbit as a cloud region, alongside funding for Starship and additional Starlink launches [3] - Historical statements from Musk indicated that an IPO was not imminent, with previous comments suggesting a public offering would only occur when regular flights to Mars were established [4] - Recent private market valuations have seen SpaceX valued at $175 billion in late 2023, rising to approximately $350 billion by the end of 2024, and discussions of a secondary sale at an $800 billion valuation, with Musk disputing some of these figures [5]