Billionaire entrepreneur Elon Musk is preparing SpaceX for a significant public offering, which investors anticipate may become the largest IPO in history. Musk confirmed recently that the space technology company’s intention to go public this year is accurate. Reports indicate that a share sale has already valued SpaceX at approximately $800 billion, with expectations that its market value could reach around $1.5 trillion upon going public, surpassing the record set by Saudi Aramco’s IPO in 2019.
Investment firms are already backing SpaceX; Ron Baron of Baron Capital has revealed that about a quarter of his personal investments are in the company. SpaceX also represents one of the largest holdings in Baron Partners Fund and ARK’s Venture Fund, managed by Cathie Wood.
In terms of operational performance, SpaceX led the low-earth orbit (LEO) market, achieving a quarterly record of 971 launches in the last three months of the year—a more than 30% increase from the previous quarter and a 70% rise year-on-year. The firm launched over 3,200 satellites in 2025, marking a more than 60% increase since the previous year.
While competitors like Amazon’s LEO system strive to gain traction, SpaceX’s launch volume continues to accelerate. Analysts, including Kevin Lin from Jefferies, expect the demand for launches to reach unprecedented levels. Furthermore, the rise of artificial intelligence has led technology companies to explore space data centers, a potential new frontier for the LEO sector.
Despite his successes, Musk faces challenges with Tesla, including recent disappointing delivery figures and increased competition from BYD, leading to its first drop as the top global EV seller.
Why this story matters: The impending IPO could reshape the investment landscape and signify the growing importance of the space sector.
Key takeaway: SpaceX’s valuation and successful launch volume position it as a leader in the LEO market.
Opposing viewpoint: Analysts caution that while space data centers present opportunities, significant technical challenges remain, potentially hindering their feasibility.
