SpaceX Lowers IPO Valuation Target to $1.8 Trillion After Investor Feedback

Elon Musk’s space company SpaceX has lowered its target valuation for its initial public offering to at least $1.8 trillion from a previously discussed $2 trillion, according to a report. The valuation could still be raised later depending on investor demand.

Digital-asset media outlet BlockBeats reported on May 29 that SpaceX adjusted the IPO target after talks with advisers and investors. Earlier market reports had said the company was pursuing an IPO at a valuation of about $2 trillion.

Key terms in an IPO, including the size of the offering and the valuation, often change until final pricing based on institutional demand and market reception. SpaceX may also raise its target valuation again depending on the outcome of the roadshow, the report said.

SpaceX is expected to begin its official roadshow as early as June 4 and set the offering price around June 11, according to the report. The listing could still be pushed back by several days, with related discussions ongoing.

SpaceX posted revenue of $18.7 billion in 2025, up from $14 billion a year earlier. Profitability worsened, however. The company recorded net income of $791 million in 2024, but posted a net loss of $4.94 billion in 2025.

Separately, SpaceX announced in February that it would acquire Musk’s artificial intelligence company xAI. At the time, SpaceX was valued at about $1 trillion and xAI at about $250 billion based on the terms of the deal.