NEW YORK, May 29, 2026, 16:04 EDT
Elon Musk shot down a report Friday that SpaceX was lowering its IPO valuation target to $1.8 trillion, replying “False” on X to a post referencing Bloomberg. Musk’s response landed just as Goldman Sachs continued to lead SpaceX toward what’s shaping up to be a record-breaking stock sale. Investing
The stakes remain huge. Despite any reported reset, Bloomberg says SpaceX could be looking to raise up to $75 billion, and its target valuation has dropped below the previous $2 trillion-plus mark after discussions with advisers and investors.
Timing is coming into focus. Bloomberg says SpaceX could launch formal marketing as early as June 4 and might set the deal’s price by June 11. Shares are slated to list on Nasdaq and Nasdaq Texas under SPCX.
Barron’s reported that SpaceX tapped Goldman Sachs to head up the offering, framing it as further evidence the IPO is gaining traction. With Goldman leading the syndicate, the bank stands to take the spotlight on a deal that’s shaping up to be a marquee event for equity bankers this year.
Goldman’s set to take the “lead-left” slot, making it the top underwriter on the deal and the first name you’ll see on the prospectus. Morgan Stanley’s in as another lead banker. Bank of America, Citigroup, and JPMorgan Chase are also on the ticket for this transaction, according to Reuters. Reuters
Space Exploration Technologies Corp submitted an S-1 registration statement with the U.S. Securities and Exchange Commission on May 20, according to the filing page on the EDGAR system. This S-1 document details the company’s business, financials, and potential risks ahead of any public share sale.
SpaceX pulled in $18.674 billion in revenue for 2025, a jump of 33%, largely thanks to Starlink, according to Investors.com. But the company is still running a hefty operating loss, the report noted. After a mishap on May 22, the Federal Aviation Administration grounded SpaceX’s Starship V3.
Index inclusion might be another factor at play. FTSE Russell has flagged SpaceX as a candidate for fast-track entry to certain U.S. and global indexes if it lists, which could push passive funds to snap up shares not long after the IPO. Reuters also pointed to OpenAI and Anthropic as big names in the pipeline for public offerings.
Space stocks have been on edge. Shares of AST SpaceMobile, Rocket Lab, Redwire, Planet Labs, and several other space-focused names dropped Friday, following a Blue Origin rocket explosion at Cape Canaveral and a Bloomberg report putting a spotlight on SpaceX’s valuation goals.
Timing isn’t the only worry. Danish pension fund Akademikerpension dropped SpaceX from its holdings before the IPO, pointing to governance issues and describing the stock as overvalued. The fund argued that investors face an “unprecedentedly low risk premium” for a company it sees as highly unpredictable. Reuters
Jay Ritter, finance professor at the University of Florida and an IPO specialist, described the private valuation as “unprecedented” in comments to Business Insider. Bankers, Ritter added, were likely already “testing the waters”—checking in with big investors even before the official roadshow process kicks off. Business Insider
The $1.8 trillion number isn’t locked in yet. According to Seeking Alpha, which referenced Bloomberg, advisers and potential investors weighed in on that figure, but IPO terms can change fast as demand comes through.
