Mini Series: The biggest IPO in history: SpaceX

SpaceX IPO 2026: The Biggest IPO in History Could Value the Company at $1.7 Trillion

Did you know the biggest IPO in human history is about to hit the market?

SpaceX is preparing to go public as early as July 2026. Its investor roadshow kicks off next month. And at a potential $1.7 trillion valuation, it would instantly become the 6th largest company in the entire S&P 500 — bigger than Meta, bigger than Broadcom, and even bigger than Tesla.

We all watched Elon Musk disrupt the entire EV market and revolutionise autonomous driving at Tesla. Steve Jobs did the same with smartphones and tablets at Apple.

SpaceX just did the same thing for space.

They created the first truly reusable rockets. They successfully caught these reusable rockets with the launch tower. They now launch 90% of the world’s mass to orbit. They run the largest space-based internet network on Earth — Starlink. They built and flew the most powerful rocket ever flown — Starship — even bigger than NASA’s Artemis rocket.

And now? They own xAI… creating the world’s first fully vertically integrated orbital AI ecosystem: AI models + space launch + orbital data centers.

This isn’t just rockets anymore. This is the full stack of the future.

The New New Space Race Is Already Here

The big thematic behind all of this?

The New New Space Race — and it’s accelerating faster than the first Cold War version ever did.

It started when Trump redirected NASA in his first term to refocus efforts away from low Earth orbit and back toward the Moon. Last year America doubled down on American space superiority in direct response to China’s very public goal of putting astronauts on the Moon by 2030.

The Apollo missions were about flags and footprints. The Artemis program is about staying — building a permanent base and creating what’s now called the cislunar economy between the Moon and Earth.

That’s why SpaceX has quietly shifted its biggest efforts away from Mars… and straight toward the Moon. They want to build the lunar base that becomes the gateway for the entire cislunar economy.

The Numbers That Matter

In 2025 SpaceX generated roughly $15 billion in revenue with $8 billion in profit. At a $1.7 trillion valuation that looks expensive on paper — 113× sales, 216× earnings.

But here’s the part that matters: Analysts expect revenue to jump to $23–24 billion next year — a 50-60% increase in just one year.

When growth like that hits, those multiples compress fast. And for a company this dominant with these kinds of moats, the valuation suddenly doesn’t look so crazy.

What This IPO Really Means

A successful SpaceX IPO doesn’t just make headlines. It validates the entire commercial space industry and opens the floodgates for hundreds of billions in new capital.

We’re already seeing it — Amazon just bought Globalstar to try and compete with Starlink.

The space race isn’t just coming. It’s already here.

And it’s not just about countries anymore. It’s about commercial companies.