史上最大IPO，要来了！

Core Viewpoint - SpaceX is preparing for an IPO in 2026, with a valuation of approximately $800 billion, potentially making it the largest IPO in history [2][7]. Group 1: IPO Preparation - SpaceX is advancing an internal share transfer transaction, indicating serious consideration for going public [2]. - The CFO, Bret Johnsen, mentioned that if executed well and market conditions are favorable, the IPO could raise significant funds [4]. - The potential IPO fundraising may be used to increase the launch frequency of the Starship rocket, deploy AI data centers in space, and advance Mars mission projects [4]. Group 2: Historical Context and Market Position - Elon Musk previously stated that SpaceX would only consider an IPO when spacecraft could regularly travel to Mars, highlighting a long-term vision [5][6]. - The recent secondary market transaction valued shares at $421, nearly double the $212 per share from July, reflecting a valuation increase from $400 billion [6]. - SpaceX's current valuation surpasses OpenAI's record of $500 billion, reaffirming its position as the highest-valued private company globally [7]. Group 3: IPO Scale and Uncertainties - The IPO could potentially exceed $30 billion, aiming for a total business valuation of around $1.5 trillion, comparable to Saudi Aramco's record [8]. - Despite the ambitious plans, the exact timing and valuation of the IPO remain uncertain, with the possibility of not proceeding with the listing [9]. - SpaceX conducts biannual share buybacks, providing liquidity options for shareholders, which is seen as a crucial step before the IPO [9]. Group 4: Business Operations - SpaceX is the leading rocket company in terms of launch frequency, primarily through its Falcon 9 rocket, which dominates the satellite and crew transport market [10]. - The company also leads in low Earth orbit internet services through its Starlink system, currently serving millions of users [10].