The $1.5 trillion question: SpaceX’s IPO could be the biggest ever and Wall Street is already placing its bets

Musk signals the plan is real; bankers and fund stars circle a potential $1.5 trillion listing.

• SpaceX's private valuation hit $800 billion after a recent secondary share sale
• SpaceX IPO could reach $1.5 trillion, surpassing Saudi Aramco's record
• Starlink expansion and launch dominance fuel investor interest in SpaceX

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Elon Musk has again nudged markets toward a question investors can’t stop asking: when does SpaceX go public, and at what price? CNBC reported that SpaceX is being discussed as a potential $1.5 trillion public-market debut, a number that would eclipse the IPO record set by Saudi Aramco.

Musk said late last month that reports of SpaceX’s IPO plans were 'accurate,' CNBC added, as attention sharpened after a share sale valued the company at roughly $800 billion.

What’s changed: the $800 billion private valuation

The latest secondary share sale, where existing investors and employees sell stock, pegged SpaceX around $800 billion, Reuters reported, citing a shareholder letter.

That valuation has turned 'SpaceX IPO' from Silicon Valley daydream into a mainstream Wall Street trade.

Why investors think SpaceX can justify a record IPO

1) Launch dominance and Starlink scale

SpaceX continued to break annual launch records in 2025 and deployed more than 3,000 satellites as Starlink expanded, according to Space.com’s year-end accounting. Space

That operating tempo matters because it signals something markets love: repeatable execution. 'Rocket company' starts looking like 'infrastructure platform.'

2) The next hype layer: data centres in space

CNBC reported growing interest, especially amid the AI boom, in the idea that space-based infrastructure could become part of the next compute buildout. Separately, Reuters’ SpaceX share-sale report also noted ambitions tied to space-based AI data centres.

Even bullish analysts concede the concept has hard engineering constraints; the question is whether they’re solvable fast enough to matter on an IPO timeline.

The early money is already inside

CNBC flagged that big-name investors have piled into SpaceX privately, including Ron Baron’s funds and Cathie Wood’s venture strategy, positioning themselves for any eventual listing. (Those stakes don’t guarantee IPO allocation for everyone else, but they shape the narrative.)

Musk’s wider backdrop: Tesla’s stumble, SpaceX’s shine

A blockbuster SpaceX IPO would land as Musk’s EV flagship shows strain. Tesla’s 2025 deliveries fell short of expectations and BYD overtook Tesla as the top global EV seller, Reuters reported on January 2, 2026.

That contrast, Tesla cooling, SpaceX heating, is part of why 'SpaceX as the next mega-IPO' has caught fire.