SpaceX aims for above $2t IPO valuation: sources

SpaceX is floating an IPO valuation above US$2 trillion in early discussions with potential investors, people familiar with the matter said, as Elon Musk’s rocket and satellite company prepares what could be one of the biggest-ever market debuts.

The company and its advisers plan “testing-the-waters” meetings in coming weeks, and Bloomberg News reported on April 2 that SpaceX has filed confidentially for an IPO that could take place in June.

The target would be a sharp step up from the US$1.3 trillion valuation implied by SpaceX’s acquisition of Musk’s AI company xAI in February, Bloomberg News previously reported.

The IPO could raise as much as US$75 billion, and SpaceX has tapped Bank of America, Citi, Goldman Sachs, JPMorgan, and Morgan Stanley for senior roles, the people said.

🔗 Source: Bloomberg

🧠 Food for thought

Implications, context, and why it matters.

The valuation story centers on AI infrastructure in orbit, not just rockets

Fundraising for AI data centers in space sits behind SpaceX’s planned IPO later this year 1.
SpaceX also asked the U.S. Federal Communications Commission (FCC) for permission to launch up to 1 million satellites built to work as orbital data centers 1.
Elon Musk announced the Terafab project in Austin, a facility Tesla and SpaceX plan to run together, to make specialized computer chips 1.
Terafab is expected to produce two chip lines. One targets edge and inference, running AI models on-device rather than in a centralized cloud data center, for Tesla vehicles and robots. The other is a higher-power space chip that SpaceX and xAI could use 2.

Musk is challenging the tech industry’s reliance on external suppliers

Terafab fits a push toward vertical integration (controlling more of the supply chain in-house). Musk says chipmakers move too slowly for the supply he expects, even as output rises. Tesla already has supply ties, including a deal with Samsung near Austin plus suppliers such as TSMC and Micron 2.
The plan tightens links across Musk-led companies. Tesla has worked with xAI plus SpaceX on AI projects. Tesla has also added xAI’s chatbot, Grok, to some vehicles. Tesla sells Megapack batteries to xAI 1.
Musk says in-house fabrication would give his companies a steadier flow of hardware for AI and robotics work 1.
This approach may push other tech giants to rethink how they source specialized AI chips, which could speed up a shift away from full dependence on third-party manufacturers.