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SpaceX Targets $75 Billion Capital Raise in Blockbuster IPO

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SpaceX Targets $75 Billion Capital Raise in Blockbuster IPO

Space Exploration Technologies, widely known as SpaceX, is seeking to raise about $75 billion in what could be the largest initial public offering of all time.

The rocket and satellite company, founded and led by Tesla (TSLA) Chief Executive Elon Musk, plans to issue about 555.6 million of its class A stock at $135 per share, according to a prospectus filed with the Securities and Exchange Commission on Wednesday. That would bring in $75 billion in proceeds, the most ever for a public stock sale.

These terms would value SpaceX at $1.75 trillion, placing it among the 10 most valuable public companies in the US, Reuters reported.

Earlier in the week, AI chatbot Claude maker Anthropic confidentially filed for an IPO in the US, as ChatGPT parent OpenAI prepares to go public too.

SpaceX, which granted underwriters a 30-day option to buy an additional 83.3 million shares, has reserved up to 5% of the IPO stock for "certain employees and persons."

The company estimates net proceeds of about $74.4 billion, or $85.7 billion if underwriters fully exercise their over-allotment option, according to the latest filing. SpaceX's class A stock is expected to trade on Nasdaq under the SPCX ticker after the IPO.

SpaceX intends to have a dual-class stock structure, with each class A share entitling the holder to a single vote. Class B shareholders will get 10 votes per share.

Musk is expected to control about 82% of SpaceX's voting power after the IPO, the filing showed.

The company estimates its quantifiable total addressable market at $28.5 trillion across artificial intelligence-related markets, space-enabled solutions and connectivity services. The company, which operates satellite internet service provider Starlink, recently acquired artificial intelligence startup xAI.

SpaceX reported a net loss of $1.69 per share in 2025, compared with a breakeven point in 2024. Revenue increased 33% to $18.67 billion in 2025. AI capital expenditures totaled $12.73 billion in 2025 and $7.72 billion in the first quarter of 2026.

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