NEW YORK, June 6, 2026, 18:02 EDT
SpaceX is aiming for a $75 billion haul in what would be the biggest IPO ever, putting Jeff Bezos’s description of space as a “gigantic industry” straight to the test. Bankers are pitching investors on everything from rockets to satellites to artificial intelligence, all baked into a $1.75 trillion valuation. Last month, CNBC pressed Bezos about SpaceX’s IPO. He hesitated to disentangle the company’s future prospects from its current finances but didn’t budge on the sector’s promise: “One thing I can tell you for sure is that space is going to be a gigantic industry.” MarketWatch
The clock is ticking on this one—not just another private-market narrative orbiting Elon Musk. SpaceX isn’t budging from its $135-a-share price, according to what the company has told banks, Reuters said. The roadshow kicked off in New York this week. Nasdaq listing? That’s penciled in for June 12. This IPO would mark the company’s first public offering.
The stakes are higher this time, with a broader buyer pool in play. According to Reuters, SpaceX could earmark up to 30% of the offering for retail investors in multiple European countries—a retail chunk that stands out given the deal’s scale. Over in Britain, eight different online platforms are pitching the shares to their users, inviting applications.
This launch is drawing the banks’ full attention. Bank of America, JPMorgan, and Morgan Stanley have either already held or are scheduling gatherings for their wealthy clients and advisers. Musk made a video appearance for one of JPMorgan’s sessions. When JPMorgan CEO Jamie Dimon pressed Musk on why SpaceX is going public now, Musk replied, “We’re embarking on a massive new growth phase, and we need capital for that.” Reuters
On Friday, SpaceX disclosed a fresh multi-year cloud services deal with Alphabet’s Google. Under the terms, Google is set to pay $920 million per month starting in October and running through June 2029. That fee secures access to SpaceX computing power, including roughly 110,000 Nvidia GPUs—hardware essential for AI model training and deployment. Coming right after the Anthropic agreement, this Google contract arms SpaceX’s AI narrative with concrete revenue as trading approaches.
Bullish sentiment has surged. According to Reuters, which referenced the Financial Times, Goldman Sachs is projecting SpaceX’s AI revenue will soar from $3.2 billion in 2025 to $322 billion by 2030. Reuters noted it couldn’t verify that figure independently. Goldman is leading the offering, joined by Morgan Stanley, BofA Securities, Citigroup, and JPMorgan.
Retail appetite forms another key angle. “The retail interest here is unlike any other deal, investors want to be part of the dream,” said Ygal El Harrar, BNP Paribas’ global head of equity capital markets for technology, speaking with Reuters. But for Meziane Lasfer, professor of finance at Bayes Business School in London, retail investors face a “very big risk” at these levels—a valuation he puts at roughly 100 times sales. Reuters
Short-term, getting SpaceX into a major index isn’t straightforward. S&P Dow Jones Indices still sticks to its standard entry criteria: at least a year of public trading, U.S. GAAP profits, and a free float topping 10%. Reuters puts SpaceX’s float at just 3% to 4%. “Profitability, staying power, and the patience of real markets,” said Jay Woods, chief strategist at Freedom Capital Markets, are what the S&P 500 looks for. Reuters
Communications faces the sharpest threat. Oppenheimer flagged Starlink—SpaceX’s satellite broadband arm—as a potential disruptor for the $1.6 trillion U.S. communications sector, ramping up the pressure on incumbents like AT&T, Verizon, and T-Mobile as satellite broadband scales. The firm now projects space revenue to hit $800 billion in 2035, up from its previous $500 billion estimate.
Bezos isn’t sitting on the sidelines. His Blue Origin stands as SpaceX’s top private U.S. competitor, and after years of relying on his own capital, he now says the company might seek external funding for the first time. If that move happens, it would land just as SpaceX pushes public investors to assign a market value to the larger space industry.
There are some caveats. The Guardian quoted Dan Coatsworth, AJ Bell’s head of markets, who pointed to Starship and U.S. government defense contracts as big positives. But he also flagged launch failures, shifting regulations, rising competition, and Elon Musk’s own public comments as factors that could drag on the stock. Jason Hollands, managing director at BestInvest, warned investors not to overload their portfolios with shares in a single company.
Access issues haven’t all been resolved. According to a Bloomberg News report cited by Reuters, SpaceX’s underwriters blocked investors from China and Hong Kong from participating in the IPO. On Friday, Reuters noted, both the company’s website and IPO marketing materials were inaccessible in Hong Kong and mainland China. The news agency said it was unable to verify the instructions from underwriters on its own.
Right now, the story’s straightforward and ambitious: cash flows from Starlink, rockets, AI compute, plus a future stake in space infrastructure. Next week, it’s the market’s call on how much of that investors are ready to back today.
