SpaceX plans IPO next week at $1.77 trillion valuation

SpaceX announced Wednesday that it plans to list its shares on the public market next week at a valuation of $1.77 trillion.

The aerospace company, founded by Elon Musk, has remained private since its 2002 inception. The company launches rockets and operates the Starship spacecraft program. SpaceX also runs the Starlink satellite internet service.

A $1.77 trillion valuation would rank SpaceX among the most valuable publicly traded companies globally. For context, Apple trades at roughly $3.2 trillion in market value, while Microsoft exceeds $3 trillion. Tesla, another Musk-led company, carries a market capitalization near $1.1 trillion.

SpaceX has raised capital from numerous investors over the years. The company secured $750 million in funding in 2021 at a $74 billion valuation. More recent funding rounds valued the company significantly higher, signaling investor confidence in its business prospects.

The company generates revenue through government contracts with NASA and the U.S. Space Force, commercial satellite launches for companies and countries, and Starlink subscriptions. SpaceX launched numerous Starship test flights this year as it develops a fully reusable super-heavy lift vehicle.

No details emerged Wednesday regarding how many shares SpaceX plans to offer or the specific timing within the coming week. The company provided no statement on how proceeds from the IPO would be used.