Sources say Elon Musk’s SpaceX is seeking an IPO valuation of at least $1.8
trillion, down from earlier reports of $2.0 trillion after consultations with
advisers and investors. The company could begin its roadshow as soon as June 4
and price as early as June 11, though the timetable, deal size and valuation
remain subject to investor feedback and may shift; SpaceX could raise its target
during the roadshow. Prospectus shows 2025 revenue of $18.7 billion (2024: $14.0
billion) and a swing from a $791 million profit in 2024 to a $4.94 billion loss
in 2025. In February SpaceX announced acquisition of XAI; that deal had implied
about a $1.0 trillion valuation for SpaceX and $250 billion for XAI.
