SpaceX Prepares Record-Breaking $1.75 Trillion IPO Filing for March 2026

Key Takeaways

Table of Contents

Confidential IPO paperwork expected from SpaceX to the SEC by March 2026
Public market debut targeted for June, with potential valuation exceeding $1.75 trillion
Capital raise could reach $50 billion, setting a new record for IPO proceeds
Recent xAI merger adds complexity to SpaceX’s financial reporting structure
AI giants OpenAI and Anthropic considering 2026 public offerings at $750B–$830B and ~$350B valuations

Elon Musk’s aerospace manufacturer SpaceX is gearing up to submit confidential IPO paperwork to the U.S. Securities and Exchange Commission by March 2026, per reporting from Bloomberg.

BREAKING: SpaceX is targeting filing confidentially for an IPO potentially valued at over $1.75 trillion as soon as next month, per Bloomberg. pic.twitter.com/tSWzxHLrji

— The Kobeissi Letter (@KobeissiLetter) February 27, 2026

This confidential submission would position the company for a public market debut potentially in June 2026. Industry sources suggest SpaceX is pursuing a valuation that exceeds $1.75 trillion.

At such a valuation, SpaceX would join an elite group of the planet’s most valuable corporations. The company would sit alongside tech giants like Apple, Microsoft, Alphabet, Amazon, and Nvidia.

The capital raising component could hit $50 billion, establishing a new benchmark as the most substantial IPO ever executed. No previous public offering has approached this magnitude of fundraising.

Headquartered in Starbase, Texas, SpaceX commands the Falcon 9 launch platform and manages Starlink, a satellite-based internet service reaching millions worldwide.

The aerospace firm accounts for more than 50% of Earth’s orbital launches. Its breakthrough reusable rocket technology revolutionized space access economics.

SpaceX achieves Ebitda profit margins estimated at 50%. Traditional aerospace firms listed on the S&P 500 typically deliver margins around 20% by the same metric.

Executives have indicated Starlink turned profitable during 2024, when its subscriber base was approximately half its current size. The launch division is similarly expected to operate profitably based on its cost advantages.

The xAI Integration Challenge

SpaceX completed a merger with Musk’s AI venture xAI in recent months. This transaction combines SpaceX’s space infrastructure with xAI’s artificial intelligence computing operations.

xAI doesn’t appear to generate profits and competes in an expensive, saturated market segment. The integration complicates efforts to evaluate SpaceX’s consolidated financial health before going public.

Analysts project SpaceX might produce up to $10 billion in Ebitda during 2026, though this estimate depends heavily on xAI’s loss contribution to the merged company.

Confidential filing procedures allow companies to address regulatory requirements with the SEC privately before disclosing financials publicly. Regulatory rules require at least 15 days between public filing and roadshow commencement.

Additional Major Tech Listings Expected

SpaceX could lead a trio of significant technology IPOs scheduled for 2026. OpenAI reportedly seeks a valuation ranging from $750 billion to $830 billion.

Anthropic, focused on AI safety research, may pursue approximately $10 billion in funding at roughly $350 billion valuation. Both organizations are monitoring SpaceX’s IPO trajectory.

SpaceX hasn’t issued official statements regarding the IPO timeline. Plans remain fluid and the company retains the option to postpone its filing schedule.

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