SpaceX is adjusting its initial public offering valuation target to at least $1.8 trillion, down from earlier estimates of over $2 trillion, people familiar with the matter said. The change comes after consultations with advisers and investors, though details remain private. The company is also seeking to raise up to $75 billion in the IPO, which would make it the largest in history.
The valuation adjustment follows feedback from stakeholders during ongoing discussions, according to the sources. SpaceX’s IPO filing in May outlined the company’s progress, including its shift from focusing solely on reusable rocket technology to broader ambitions in artificial intelligence and global infrastructure. The filing also highlighted recent milestones in Starlink and Mars exploration projects.
Elon Musk responded to reports of the valuation change with a single word — “False” — in a post on X, the social media platform he founded. A SpaceX spokesperson did not immediately comment on the revised target. The company’s IPO process is still in deliberation, with the possibility of raising the valuation further based on investor interest during the marketing phase.
The adjustment reflects the complexities of preparing for a massive IPO, where valuation targets are often refined as market conditions and investor sentiment shift. SpaceX’s plans remain ambitious, but the revised figure underscores the challenges of balancing high expectations with realistic financial projections. The company has not set a timeline for the IPO, which could still occur in 2026 or later.