Historic sprint! SpaceX raises valuation target to over $2 trillion

SpaceX is expected to increase its IPO valuation target to over $2 trillion for the first time, potentially becoming the largest IPO in history. Sources revealed that the rocket, satellite, and artificial intelligence company founded by Tesla, Inc. CEO Elon Musk is communicating this valuation expectation to potential investors and plans to begin a roadshow in the coming weeks to further justify its valuation logic. If SpaceX goes public with a valuation exceeding $2 trillion, its valuation will have increased significantly in just a few months. Previously, the acquisition of its artificial intelligence startup xAI pushed its overall valuation to around $1.25 trillion. At this valuation level, SpaceX's market value will surpass Meta Platforms and Tesla, Inc., ranking only below the top five companies by market capitalization in the S&P 500 index, which are NVIDIA Corporation, Apple Inc., Alphabet, Microsoft Corporation, and Amazon.com. Previous reports indicate that SpaceX has secretly submitted an IPO application and could potentially go public as early as June. This listing may kick off a series of "super IPOs," which could include other artificial intelligence companies such as OpenAI and Anthropic, competitors in the generative AI field with xAI. In terms of business, SpaceX currently holds a leading position in rocket launches and low-orbit satellite communication. Its Starlink satellite internet business and launch services remain the main sources of revenue, with expected revenue from related businesses to reach nearly $20 billion by 2026, while xAI's contribution remains relatively limited. Additionally, Musk is advancing cross-company collaborative projects. The "Terafab" project, which aims to produce in-house chips for Siasun Robot & Automation, artificial intelligence, and space data centers, will be jointly operated by SpaceX and Tesla, Inc. SpaceX has selected Bank of America Corp, Citigroup, Goldman Sachs Group, Inc., JPMorgan, and Morgan Stanley as its main underwriters and plans to further expand its underwriter base.