SpaceX to pursue IPO in 2026… aims to raise over $30 billion [Stocks+]

Company valuation estimated at about $1.5 trillion

Space-related stocks rose en masse on IPO news

EchoStar, which agreed to sell frequency licenses to SpaceX, up 12%↑

Elon Musk's space company SpaceX is pushing for an IPO in 2026 and aims to raise well over $30 billion. The deal is expected to be among the largest in history by size.

Bloomberg reported on the 9th (local time) that "SpaceX executives and advisers are targeting an IPO in mid-to-late 2026, though the timetable may be adjusted depending on market conditions." SpaceX is reportedly exploring valuing the company at about $1.5 trillion. That would rival the scale of Saudi Aramco, which raised $29 billion when it went public in 2019.

When news of the IPO push spread, space-related stocks rose across the board that day. EchoStar, which agreed to sell frequency licenses to SpaceX, jumped 12% intraday on the New York market to a record high. Rocket Lab also rose more than 4%.

SpaceX has recently wrapped up internal equity transactions and is said to be detailing plans for securing key personnel needed for the IPO and fundraising as well as plans for the use of funds. The reasons SpaceX is accelerating the listing include the rapidly growing Starlink satellite internet business, the development of smartphone connectivity services, and the Starship rocket project aimed at Moon and Mars missions. The company expects revenue of about $15 billion in 2025 and $22 billion to $24 billion in 2026. Most of the revenue is generated by Starlink.

Some of the funds raised through the IPO are expected to be invested in developing space-based data centers. The company is also said to be seeking semiconductors for this purpose.

In the ongoing internal share sale, the company is understood to have offered a price of about $420 per share, lifting the valuation to over $800 billion. SpaceX allowed employees to sell about $2 billion worth of shares, and the company will also purchase some.

On December 6, Musk wrote on his social media X, "SpaceX has had positive cash flow for years and will conduct share buybacks twice a year for employees and investors." He also emphasized, "The increase in valuation reflects progress on Starship and Starlink and achievements in securing spectrum for global direct communications."

SpaceX has repeatedly considered spinning off the Starlink business and listing it separately. However, Musk has maintained a cautious stance on timing and conditions, and the company's chief financial officer has said a Starlink IPO is "a possibility years from now."

Major long-term investors in SpaceX include Founders Fund, 137 Ventures, and Valor Equity Partners, with Fidelity and Alphabet, Google's parent company, also participating as major investors. If SpaceX were to sell 5 percent of its total shares at the current valuation, the proceeds would be about $40 billion, surpassing Aramco in 2019 to become the largest IPO ever.

New York = Correspondent Shin-young Park nyusos@hankyung.com