SpaceX Files for $75 Billion IPO at $1.77 Trillion Valuation to Fund AI Data Centers in Space

SpaceX filed an updated prospectus with the U.S. Securities and Exchange Commission on June 3, 2026, setting the stage for what would be the largest IPO in history. The company is targeting a $75 billion raise by selling 555.6 million Class A shares at $135 per share, which would value the company at approximately $1.77 trillion.

The IPO proceeds are earmarked for an aggressive expansion of AI compute infrastructure, including the development of orbital AI data centers. SpaceX plans to deploy AI compute satellites into sun-synchronous orbit beginning as early as 2028, arguing that space-based data centers can leverage near-constant solar energy and radiative heat dissipation to operate more efficiently than terrestrial facilities.

The company's AI ambitions were significantly expanded by its February 2026 merger with xAI, Elon Musk's AI lab, which integrated a frontier AI research operation directly into SpaceX's existing launch, connectivity, and defense communications business.

Elon Musk will retain significant control after the IPO. His ownership of Class B shares, which carry 10 times the voting power of Class A shares, will give him 82.4 percent of the voting power, allowing him to control matters requiring shareholder approval.

SpaceX reported $18.7 billion in revenue for the full year of 2025, with a net loss exceeding $4.9 billion. In the first quarter of 2026, the company reported $4.7 billion in revenue and a net loss of nearly $4.3 billion, largely attributed to $7.7 billion in capital expenditures directed toward its AI division.

If the IPO proceeds as planned, SpaceX would become the seventh-largest company in the United States by market capitalization. Underwriters have an option to purchase an additional 83.3 million shares within 30 days, which could generate an extra $11.25 billion.