Elon Musk's SpaceX has unveiled a proposed share price ahead of its planned stock market debut, a move that would value the company at about $1.75 trillion and potentially make it the largest initial public offering (IPO) on record.
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In regulatory filings, the company said it intends to offer shares at $135 each. If achieved, the valuation would mark a sharp increase from the roughly $1.25 trillion valuation assigned to the company earlier this year.
The proposed pricing is notable because companies typically reveal their target IPO price only shortly before trading begins. SpaceX disclosed its estimate more than a week ahead of its expected Nasdaq debut on 12 June.
Record Fundraising Ambitions
SpaceX aims to raise $75 billion through the offering, far surpassing the current IPO record set by Saudi Aramco, which raised $25.6 billion in 2019.
If investor demand supports the proposed share price, SpaceX would immediately rank among the world's most valuable companies. Musk, who owns more than 80% of the company, could also see his personal wealth rise to unprecedented levels.
However, the final IPO price will be determined by market demand and could differ from the company's target.
Investors Betting on Future Growth
SpaceX's valuation reflects expectations for future growth rather than current profitability.
According to Samuel Kerr, head of equity capital markets research at Mergermarket, the company is being valued at a higher sales multiple than any member of the so-called "Magnificent Seven" technology giants — including Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla.
Kerr said investors may be willing to accept the premium because of expectations for future earnings and revenue growth.
Losses Persist Despite Rising Revenue
Officially known as Space Exploration Technologies, the company generated $18.6 billion in revenue last year but reported a net loss of $4.9 billion.
During the first quarter of this year, revenue reached $4.7 billion, while net losses totaled $4.3 billion.
Its balance sheet shows assets worth $102 billion, including rockets and infrastructure, alongside debt of $60.5 billion.
Beyond its rocket-launch business, SpaceX is investing heavily in artificial intelligence, social media, data centres and satellite internet services through Starlink, while also maintaining ownership of xAI.
Uncertain Market Reception
Despite the company's scale and growth ambitions, its market debut carries risks. Data from Dealogic indicates that nearly half of companies that have gone public over the past three decades have subsequently traded below their IPO valuation.
Whether investors embrace SpaceX's ambitious pricing will become clearer when trading begins later this month.
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Adapted by ASEAN Now. Source 4 June 2026