SpaceX is currently targeting a valuation of at least $1.8 trillion in its initial public offering, according to sources familiar with the matter, as Elon Musk’s company promising data centres in space nears its debut.
Bloomberg News reported in April that the company was aiming for a valuation above $2trn. The rocket, data and artificial intelligence firm’s target is settling lower after consultations with advisers and investors, the sources said, asking not to be identified as the information is not public.
Details of an IPO, such as size and valuation, are typically adjusted ahead of pricing based on feedback from stakeholders, the sources said.
SpaceX is seeking to raise as much as $75 billion, sources familiar with the matter have said, which would make it the biggest IPO of all time.
The company’s pitch to investors in its IPO filing on May 20 shows the company’s evolution, from focusing on making reusable rockets and a profitable business providing satellite internet, to an AI services and infrastructure giant dreaming of orbital data centres and conquering a total addressable market of $28.5trn.
SpaceX is expected to start formal marketing of its IPO as soon as Jun 4 and to price as early as Jun 11, Bloomberg News has reported. The trading timeline could be delayed by a matter of days, the sources said.
Deliberations are ongoing and the company could decide to increase its target valuation depending on investor feedback during the marketing, the sources said. A spokesperson for SpaceX did not immediately respond to a request for comment.
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