SpaceX lowers IPO target to $1.8T, marketing starts 4 June SpaceX has adjusted its IPO valuation target to at least $1.8 trillion, down from over $2 trillion, with formal marketing set to begin early June. The company reported significant revenue growth but a substantial loss in the past year, largely due to the acquisition of xAI and expansion of AI infrastructure. The pitch to investors will focus on Starlink and xAI’s AI ambitions, aiming for a valuation reflecting hypergrowth expectations.

• SpaceX is targeting a valuation of at least $1.8 trillion for its IPO, a reduction from previous goals.
• The company aims to raise up to $75 billion, potentially making it the largest IPO in history.
• Revenue increased to $18.7 billion in 2025, but SpaceX reported a $4.94 billion loss due to xAI integration costs.
• The acquisition of xAI transformed SpaceX into an AI services and infrastructure company.
• The reduced valuation target is attributed to standard IPO pricing dynamics rather than a lack of confidence.
• SpaceX’s valuation would still make it one of the most valuable companies globally.
• Elon Musk’s control structure (79% voting power despite 42% equity) has raised governance concerns.
• SpaceX’s dominance in commercial launch is highlighted by a rival’s launchpad destruction.
• The IPO pitch emphasizes Starlink’s satellite internet business and xAI’s AI infrastructure.
• A large 30% retail investor allocation is included, which could increase volatility. Continue reading https://thenextweb.com/news/spacex-has-cut-its-ipo-valuation-target-to-1-8-trillion-as-marketing-begins-next-week