SpaceX could go public next month as IPO nears

SpaceX’s planned market debut would do more than enrich Elon Musk. It would give ordinary investors a rare chance to buy into one of the country’s most strategically important private companies, while forcing Washington to scrutinize a contractor that sits at the center of U.S. launch, satellite internet and lunar exploration.

The company is expected to disclose its IPO prospectus as soon as next week and is targeting a roadshow for the week of June 8, a timetable that could make a June listing possible if it holds. SpaceX confidentially filed for an IPO in April, setting up what could become one of the biggest public offerings ever attempted by a private U.S. company.

Investors are already positioning for a deal of unusual scale. BlackRock has discussed investing between $5 billion and $10 billion in the offering, a sign of deep institutional appetite. SpaceX has also considered giving more retail investors access than is typical in a deal of this size, while a dual-class share structure could preserve outsized voting power for insiders such as Musk. Depending on the eventual structure, the company could raise more than $25 billion and perhaps as much as $50 billion.

The valuation could be just as eye-catching. SpaceX was recently valued at $1.25 trillion after a merger with Musk’s xAI, underscoring the expectations already baked into the business. Founded in 2002, SpaceX says its long-term mission is to enable people to live on other planets, and its Starship rocket is designed to carry more than 100 metric tonnes to orbit in a fully reusable configuration.

That long-range ambition is not theoretical. NASA selected SpaceX as the first U.S. commercial provider under its Gateway Logistics Services contract and later awarded the company the Starship human landing system contract for Artemis III and Artemis IV. NASA documents say SpaceX is expected to conduct an uncrewed demonstration mission before crewed use of the lunar lander, and the agency is working with SpaceX and Blue Origin toward a 2028 lunar landing date.

A public listing would therefore bring unusual scrutiny to a company that already operates deep inside federal space policy. SpaceX’s finances, disclosures and quarterly performance would be aired for public shareholders, even as its role in launch, Starlink and lunar missions makes it less like a typical tech startup than a piece of national infrastructure. If the IPO proceeds on schedule, Wall Street and Washington will confront the same question at once: how to value a company that is both a growth stock and a strategic asset.