Musk's "story" supports SpaceX's $2 trillion valuation! Starlink and rocket business provide backbone, success or failure of test flight determines schedule.

According to sources familiar with the matter, SpaceX and its bankers are preparing to hold an investor meeting to assess the demand for a potential IPO that could value the company at around $2 trillion. These discussions come shortly after the merger of SpaceX and xAI, with the company currently exploring what could potentially be the largest IPO in history. Its expected valuation has rapidly increased from about $1.75 trillion in recent weeks to over $2 trillion. Some observers say that the pitch to investors will rely less on the current financial situation and more on confidence in Elon Musk's long-term vision. A scholar and former banker pointed out that the focus may still be on maintaining investors' enthusiasm for the company's future potential rather than strictly proving the current data. At this valuation, SpaceX would rank among the most valuable companies in the S&P 500 index, despite its revenue being much lower than many of its peers. Analysts estimate that by 2026, the company's revenue could reach close to $20 billion, mainly from its launch operations and the Starlink satellite network. The timeline for the IPO may partly depend on upcoming rocket tests. Analysts say that successful tests can boost confidence, while setbacks could delay or even derail the listing plans. The IPO could raise as much as $75 billion, surpassing the record set by Saudi Aramco in 2019. The proceeds will be used to fund ambitious projects, including space-based data infrastructure and other long-term plans related to Musk's broader technology ecosystem. However, some analysts caution that as the valuation rises, investors may question to what extent this "story" depends on Musk's ability to inspire confidence rather than potential financial performance.