SpaceX files S-1 May 20 targeting $1.75-2T valuation and $75B raise — largest IPO in history, Nasdaq listing as SPCX with pricing as early as June 11
SpaceX filed its public S-1 on May 20, 2026, targeting a Nasdaq listing under ticker SPCX with pricing potentially as early as June 11-12 and listing expected in late June 2026. The IPO targets a $1.75-2 trillion valuation and a raise of up to $75 billion — the largest IPO in history, dwarfing the previous record of Aramco's 2019 listing.
The IPO sizing reflects the post-xAI-merger combined entity. SpaceX's February 2026 all-stock merger with Elon Musk's xAI brought Starlink, the orbital-launch business, Optimus humanoid work, FSD autonomy stack, Dojo AI compute, the Memphis Colossus supercomputer, AND the xAI Grok model program into a single equity story. The $1.75-2T target prices the combined entity at roughly OpenAI-plus-Starlink valuation — Starlink alone generated approximately $14B revenue in 2025, while the AI businesses contribute the multi-trillion-dollar growth narrative.
The June 11-12 pricing target is the near-term watch. A successful pricing at the top of the range would absorb roughly $75B of public-market capital in a single event — comparable to two years of all AI startup funding combined. The pricing trajectory will set the comparable for Anthropic's $900B valuation talks and the OpenAI 2027 IPO window. See our analysis →
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