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  "description": "SpaceX is seeking a $1.75 trillion valuation as investors weigh Starlink's profits, xAI's losses and Elon Musk's control.",
  "path": "/7-things-to-know-about-the-spacex-ipo-before-spcx-starts-trading-on-june-12/",
  "publishedAt": "2026-06-05T16:26:35.000Z",
  "site": "https://www.techloy.com",
  "tags": [
    "SpaceX's",
    "Starlink",
    "xAI",
    "Elon Musk’s SpaceX Acquires xAI in $1.25 Trillion Deal, Eyes June IPOSpaceX announced Monday it acquired xAI, creating what’s expected to be one of the largest initial public offerings in history.TechloyDamilare Odedina",
    "Elon Musk's",
    "Anthropic",
    "SpaceX Secures $60B Option to Acquire Cursor Amid $2B Funding RoundCursor gains a $10B safety net while SpaceX gains AI credibility. The story behind the $60B option deal.TechloyLouis Eriakha"
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  "textContent": "SpaceX's IPO is entering its final week before trading begins on June 12. The offering has attracted attention for its size, retail investor access, exposure to Starlink and xAI, and the valuation SpaceX is seeking in public markets.\n\nOn June 5, SpaceX increased the size of its Japan offering to $2.5 billion after the initial $2 billion allocation was oversubscribed. Regulatory filings show that between 14.8 million and 18.5 million shares are expected to be sold in Japan at the same fixed price.\n\nHere are seven things investors are watching before SPCX begins trading.\n\n## /1. SpaceX wants a $1.75 Trillion valuation at $135 per share\n\nSpaceX plans to sell 555.6 million shares at a fixed price of $135 each, giving the company a target valuation of about $1.75 trillion. The company expects to raise $75 billion through the offering. The previous record IPO was Saudi Aramco in 2019, which raised $29.4 billion.\n\nUnlike most major IPOs, SpaceX has set a fixed price rather than a pricing range. Final pricing is scheduled for June 11, with trading expected to begin on June 12. At the proposed valuation, SpaceX would trade at roughly 94 times its reported 2025 revenue of $18.67 billion.\n\n## /2. Retail investors can apply for IPO shares through five brokerages\n\nSpaceX's S-1 prospectus identifies Fidelity, Robinhood, Charles Schwab, SoFi, and E*Trade as official retail distribution partners. Fidelity said eligible customers can participate with as little as $2,000 in a brokerage account. Schwab requires at least $100,000 in eligible brokerage assets for IPO participation.\n\nRobinhood users can submit an indication of interest through the platform's IPO Access feature without a minimum account balance requirement. Submitting an order does not guarantee an allocation. Investors who do not receive IPO shares will be able to buy them once trading begins on June 12.\n\n## /3. SpaceX is holding a retail investor event before pricing day\n\nSpaceX is scheduled to host a live investor presentation on June 11, the same day final pricing is expected to be determined. The event will be open to 1,500 individual investors. Company disclosures show participation is available to investors in the United States, the United Kingdom, the European Union, Australia, Canada, Japan, and South Korea.\n\nSpaceX CFO Bret Johnsen told the underwriting syndicate that retail investors would play a significant role in the offering. Japan's allocation was increased to $2.5 billion on June 5 following strong demand for the original offering.\n\nElon Musk’s SpaceX Acquires xAI in $1.25 Trillion Deal, Eyes June IPOSpaceX announced Monday it acquired xAI, creating what’s expected to be one of the largest initial public offerings in history.TechloyDamilare Odedina\n\n## /4. SPCX includes Starlink, xAI, Grok, and X\n\nThe IPO includes more than SpaceX's launch and satellite businesses. In February 2026, SpaceX completed an all-stock merger with xAI, Elon Musk's artificial intelligence company. The combined business includes Grok, X, and the Colossus data centre operations in Memphis, Tennessee.\n\nThe AI business reported a $6.4 billion operating loss in 2025 and a further $2.5 billion loss during the first quarter of 2026. SpaceX reported a net loss of $4.94 billion in 2025 and an accumulated deficit of $41.3 billion.\n\nStarlink generated $11.4 billion in revenue and $4.4 billion in operating income during 2025, according to company filings. The satellite internet service reported 10.3 million subscribers across 164 countries.\n\n## /5. Morningstar and Goldman Sachs see SpaceX very differently\n\nMorningstar has assigned a fair value estimate of $780 billion for SpaceX, below the company's proposed IPO valuation of $1.75 trillion. Morningstar analyst Nicolas Owens wrote that xAI presents a potential risk to shareholder value and said Grok is not currently among the leading AI laboratories.\n\nGoldman Sachs has projected that SpaceX's AI-related revenue could grow from $3.2 billion in 2025 to $322 billion by 2030. The difference between those forecasts has become a major focus ahead of the offering. Also, Morgan Stanley forecasts SpaceX revenue at $3.4 trillion by 2040.\n\n## /6. Investors are watching a key Anthropic contract disclosure\n\nSpaceX's prospectus states that Anthropic agreed to pay SpaceX $1.25 billion per month through May 2029 for access to computing capacity at the Colossus data centres. Over 36 months, the arrangement would represent roughly $45 billion in revenue if maintained for the full term outlined in the filing.\n\nOn May 28, Musk wrote on X that SpaceX had \"not committed to leasing Colossus for years\" and described the arrangement as a shorter-term agreement that could later be terminated with notice. SpaceX later filed an amended prospectus stating that, after an initial three-month period, either party can terminate the agreement with 90 days' notice.\n\n## /7. Elon Musk will retain control after the IPO\n\nSpaceX will issue Class A shares to public investors, each carrying one vote. Musk's Class B shares carry 10 votes each. According to the amended prospectus, Musk will control more than 82% of the company's voting power following the IPO. The filing states that the structure may limit the ability of public shareholders to influence corporate decisions or board elections.\n\nNew York City Comptroller Mark Levine, New York State Comptroller Thomas DiNapoli and CalPERS CEO Marcie Frost sent a joint letter to SpaceX raising concerns about the governance structure.\n\nThe filing also shows that about 78% of the IPO proceeds, or roughly $62.8 billion, have been earmarked for obligations including payments to investors, creditors, and other counterparties. Less than $18 billion would remain available for other corporate purposes. Final pricing is scheduled for June 11. SPCX is expected to begin trading on Nasdaq on June 12.\n\nSpaceX Secures $60B Option to Acquire Cursor Amid $2B Funding RoundCursor gains a $10B safety net while SpaceX gains AI credibility. The story behind the $60B option deal.TechloyLouis Eriakha",
  "title": "7 Things to Know About the SpaceX IPO Before SPCX Starts Trading on June 12",
  "updatedAt": "2026-06-05T16:26:36.311Z"
}