The company expects to generate about $15 billion in revenue this year, with most of it coming from its Starlink satellite internet service.
AUSTIN, Texas — Bastrop-based SpaceX is planning to go public, according to a report from KVUE’s media partners at the Austin American-Statesman.
The company, which is run by Elon Musk, is targeting an initial public offering as soon as mid- to late 2026. That would raise more than $30 billion, making it the largest IPO of all time.
SpaceX is seeking a valuation around $1.5 trillion.
The company expects to generate about $15 billion in revenue this year, with most of it coming from its Starlink satellite internet service.
SpaceX plans to use IPO money to develop space-based data centers.
News of the IPO plans helped push other Texas-based aerospace companies’ shares higher on Wednesday. Cedar Park-based Firefly was up around 11.5%, while Houston’s Intuitive Machines Inc. was up about 4.5%.
According to the report, SpaceX has set a per-share price of around $420 in the current secondary offering, pushing its valuation over the previously reported amount of $800 billion. The company is reportedly allowing employees to sell off $ billion worth of stock so it can buy back some shares.
“SpaceX has been cash-flow positive for many years and does periodic stock buybacks twice a year to provide liquidity for employees and investors,” Musk said in a Dec. 6 post on social media platform X.
Musk has also suggested the Starlink business could become a separate, publicly listed company “in the years to come.”