Core Viewpoint - SpaceX is reportedly planning to go public with a potential IPO in 2026, aiming for a valuation of $1.5 trillion and raising over $30 billion, marking a significant shift from Elon Musk's previous stance against IPOs [5][6][9]. Group 1: SpaceX's IPO Plans - SpaceX's valuation has reportedly doubled from $400 billion in July 2025 to $800 billion, with further plans to reach $1.5 trillion by 2026 [5][6]. - The company is exploring alternative IPO structures, such as using a Special Purpose Acquisition Company (SPAC) to bypass traditional IPO processes [6]. - If successful, SpaceX's IPO could become the largest in history, surpassing Saudi Aramco's $29 billion record [9]. Group 2: Comparison with Chinese Commercial Space Industry - Chinese commercial space companies, including Blue Arrow Aerospace and Tianbing Technology, are also pursuing IPOs, with a combined valuation of approximately 85.5 billion yuan, only 0.8% of SpaceX's valuation [7][16]. - The significant valuation gap is attributed to differences in launch costs, with SpaceX's Falcon 9 costing about $3,000 per kilogram compared to domestic costs of around 150,000 yuan per kilogram [7][17]. - The Chinese commercial space sector faces challenges in achieving lower costs and higher launch frequencies, which are critical for establishing a sustainable business model [17][18]. Group 3: Financial Performance and Future Prospects - SpaceX is projected to generate over $15 billion in revenue this year, with expectations of reaching $22-24 billion in annual revenue by 2026 [12][17]. - The company has raised over $10 billion to date, indicating strong financial backing and a robust funding capability compared to other private firms [9]. - The transition to public markets will require SpaceX to adopt a more rigorous pricing mechanism, balancing cash flow certainty from Starlink with the capital-intensive nature of Starship [10][12].