SpaceX launches $75bn IPO at $135 per share, $1.77tn valuation
SPCX•SpaceX filed a $75bn IPO for 555.6 million shares at $135 each, valuing the company at $1.77tn and making it the seventh most valuable US company. In Q1, it posted $4.69bn revenue, a 15% rise, and a $4.28bn net loss while capex rose to $10.1bn including $7.7bn AI.
1. IPO Filing and Valuation
SpaceX filed for a $75bn IPO, offering 555.6 million shares at $135 each, implying a $1.77tn valuation and making it the seventh most valuable U.S. company.
2. Q1 and Full-Year 2025 Financial Results
In the first quarter, SpaceX generated $4.69bn in revenue (15% year-over-year growth) and posted a $4.28bn net loss; full-year 2025 revenue rose 33% to $18.67bn.
3. Capex, Unit Profitability and AI Integration
Capital expenditure jumped to $10.1bn in Q1, with $7.7bn directed toward AI; Starlink remains the only profitable unit while xAI merged with SpaceX in February.
4. Roadshow Banking and Future Investment Plans
Goldman Sachs leads the offering alongside four major banks, and Elon Musk emphasized the need for capital to fund a new growth phase and potential space-based AI data centers.
