SpaceX may make the “biggest IPO in history” next year: the valuation soars to 800 billion US dollars, and the target is to hit the sky-high price of 1.5 trillion yuan

The Zhitong Finance App learned that an internal letter from the company shows that Elon Musk's rocket and satellite manufacturing company SpaceX is preparing for a possible public listing in 2026, with the aim of funding the “Starship” rocket under development to achieve “amazing launch frequency”, a space artificial intelligence data center, and a lunar base. According to reports, SpaceX is promoting an internal stock sale. This move will set a valuation of about 800 billion US dollars, paving the way for what may become the largest initial public offering in history.

According to CFO Brett Johnson in a memorandum to shareholders, the price per share of its latest secondary sale was 421 US dollars, which is almost double the price of 212 US dollars per share in July (corresponding to a valuation of 400 billion US dollars).

This valuation surpassed the $500 billion record set by ChatGPT owner OpenAI in October, making SpaceX once again the world's most valuable unlisted company.

If Musk decides to go ahead with an IPO, it will be another high-profile commercial move, but its success or failure will depend on a series of ambitious and high-risk plans SpaceX must complete in the next few years.

According to reports earlier this week, SpaceX is advancing its IPO plan with the goal of raising more than $30 billion through the deal, which will make it the largest listed project ever. The Musk-led company is seeking to achieve a valuation of around $1.5 trillion for the entire company, which will bring SpaceX close to the market capitalization level established by Saudi Aramco during its record listing in 2019.

Johnson said in an email that the timing of the IPO and the corresponding valuation are uncertain, and the company may decide not to proceed with the listing plan.

A representative for SpaceX (officially known as Space Exploration Technologies) did not respond to requests for comment.

The company conducts tender acquisitions twice a year, providing shareholders, including employees, with the opportunity to cash out or increase their holdings. In this deal, SpaceX has set a fair market valuation for it, which is seen as a prelude to next year's IPO.

As the most launched rocket operator in the world, SpaceX dominates the space industry with its “Falcon 9” rocket that puts satellites and people into orbit.

SpaceX is also an industry leader in providing internet services from low-Earth orbit through the “Starlink” system.” “Starlink” consists of thousands of satellites and serves millions of customers.