SpaceX is preparing for what could become the largest initial public offering (IPO) in history, with new regulatory filings revealing the company plans to raise roughly $75 billion at a valuation approaching $1.8 trillion.
According to updated filings submitted to the U.S. Securities and Exchange Commission (SEC), Elon Musk’s aerospace company intends to offer 555,555,555 shares of Class A stock at a proposed price of $135 per share. If fully subscribed, the offering would generate approximately $75 billion before expenses, instantly making the SpaceX debut one of the most significant moments in stock market history.
The filing also includes an option for underwriters to purchase an additional 83.3 million shares over the next 30 days, potentially increasing the total raise to nearly $86 billion.
At the proposed share price, SpaceX would debut with a valuation of approximately $1.77 trillion, placing it among the largest publicly traded companies in the world and ahead of many established tech giants. The valuation would also put SpaceX within striking distance of Tesla’s market capitalization, currently around $1.6 trillion.
Unlike most IPOs, which typically launch with a pricing range before investor demand determines the final figure, SpaceX has unusually moved forward with a fixed $135 share price ahead of its official roadshow. The company is expected to begin presentations to investors later this week.
The updated filing also provides a clearer picture of how much control Musk will retain after the company goes public. Thanks to SpaceX’s dual-class share structure, Musk is expected to hold approximately 82.4% of the company’s voting power through Class B shares, which carry 10 votes per share compared to one vote for Class A shares.
The filing states, “As a result, Mr. Musk will be able to control the outcome of matters requiring shareholder approval.”
Massive Expansion Plans
SpaceX says the IPO proceeds will primarily fund future growth initiatives across several major business areas.
“We intend to use the net proceeds from this offering to fund our growth strategy, including the expansion of our AI compute infrastructure, enhancements to our launch infrastructure and launch vehicles, increases in the scale and capacity of our satellite constellations, and any remaining amounts for general corporate purposes.”
The filing reveals SpaceX spent heavily during the first quarter of 2026, reporting $10.1 billion in capital expenditures. Of that amount, roughly $7.7 billion was tied to its AI division, significantly exceeding spending on Starship development during the same period.
Despite generating $18.7 billion in revenue in 2025, SpaceX reported a net loss of more than $4.9 billion as the company aggressively expands its operations.
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