Sources familiar with the matter revealed that SpaceX is currently pushing forward with a massive initial public offering (IPO) plan. The rumored fundraising amount is...More than $300 billionIf it comes to fruition, it will break the record of $290 billion set by Saudi Aramco in 2019, becoming the largest IPO in history.
With a target valuation of $1.5 trillion and revenue only one-sixth of Tesla's?
The report indicates that SpaceX's management and advisors are aiming for an IPO as early as mid-to-late 2026, but this could be delayed until 2027 depending on market conditions.
Most notably, SpaceX plans to raise its overall valuation to approximately $1.5 trillion (about NT$48.75 trillion), which would not only surpass the market capitalization of Tesla, another company under Elon Musk, which is about $1.4 trillion, but also surprise the market with its "Dream-like" valuation.
Comparing their revenues: Tesla projects $952 billion in revenue by 2025, while SpaceX's estimated revenue for 2025 is approximately $155 billion. This means that SpaceX, with only one-sixth of Tesla's revenue, is seeking a higher market valuation, highlighting that investors are not focused on its current profitability, but rather on the future explosive potential of Starlink and Starship.
Use of funds: Space data centers and chips
As for where this huge sum of money will be used, in addition to the dream of colonizing Mars, sources revealed that SpaceX plans to use some of the funds raised from the IPO to develop "space-based data centers".
This plan includes purchasing the chips needed to run these data centers. As the Starlink satellite network matures, deploying computing power directly in orbit may be Elon Musk's next key move to integrate space communications and AI computing.
With internal stock prices soaring, Starlink's spin-off may be put on hold.
In secondary market trading, SpaceX is currently priced at approximately $420 per share, giving it a valuation higher than the previously reported $8000 billion. Elon Musk has also emphasized on the "X" platform that the company has had positive cash flow for many years and regularly repurchases shares to provide liquidity.
Previously, there were widespread rumors that Starlink would be spun off and listed independently, but with the progress of SpaceX's overall IPO plan, the spin-off plan seems to have been temporarily shelved. Elon Musk believes that the progress of Starlink and Starship, coupled with the acquisition of global direct-to-cell spectrum, has significantly expanded the company's potential market size.
