Reports: SpaceX Expected to Launch Bid for £1.1 Trillion Valuation in 2026

SpaceX is moving forward with plans for an initial public offering (IPO) that could raise far more than 30 billion dollars, according to people familiar with the matter. Such a haul would comfortably eclipse the £22 billion ($29 billion) achieved by Saudi Aramco in 2019, currently the largest IPO on record.

The company, led by Elon Musk, is said to be targeting an overall valuation of around £1.1 trillion ($1.5 trillion), according to a report by Bloomberg. If achieved, this would push SpaceX close to the oil giant's market valuation at its listing and firmly establish it as one of the most valuable publicly traded companies in the world.

Proposed Timeline and Potential Delays

Executives and advisers are considering a debut in mid to late 2026, though the schedule is far from fixed. Several sources stressed that the timeline remains sensitive to market conditions, investor appetite, and broader economic factors.

One source noted that the timetable could extend into 2027 if markets turn volatile or if SpaceX opts for additional internal restructuring ahead of the float. A spokesperson for SpaceX declined to comment on the timing or progress of its preparations, the BBC reported.

Recent Acceleration in Planning

Reports cited by the BBC last week said SpaceX is contemplating a listing as early as the end of next year. According to one person close to the company, Musk and the board have intensified planning in recent weeks, coinciding with the completion of SpaceX's latest insider share sale.

Discussions have included the recruitment of senior hires to support the transition to life as a public company and decisions on how fresh capital would be allocated to ambitious technical projects.

Starlink and Starship Underpin Investor Interest

A major factor behind SpaceX's push towards public markets is the strength of its Starlink satellite broadband service. The network has grown rapidly and is expected to benefit from the rollout of a direct-to-mobile service that could significantly increase its customer base.

The company is also making notable progress with Starship, the heavy-lift rocket system designed for future Moon and Mars missions. Together, these ventures have positioned SpaceX as a leader in both commercial spaceflight and global telecommunications.

People familiar with the company's financial forecasts told the BBC that SpaceX is expected to generate about £11.3 billion ($15 billion) in revenue in 2025, rising to between £16.5 and £18 billion ($22 billion and $24 billion) in 2026.

Most of this growth is projected to come from Starlink, which has become one of the firm's most commercially successful divisions.

Plans for Space-Based Data Centres

Two sources cited by the BBC said SpaceX intends to direct part of the IPO proceeds towards the development of space-based data centres. These facilities would require specialised chips, which the company also plans to procure using funds raised from the listing.

Musk has recently described his interest in such infrastructure during a public event hosted by Baron Capital, suggesting that he views the technology as an important step in the evolution of the company's broader ecosystem.

Musk's Public Comments on Valuation Growth

In a post on X on 6 December, Musk said that SpaceX has been cash-flow positive for many years and routinely conducts buybacks twice a year to provide liquidity for employees and long-term investors.

'Valuation increments are a function of progress with Starship and Starlink and securing global direct-to-cell spectrum that greatly increases our addressable market,' Musk wrote.

Some of the most significant long-term shareholders in SpaceX include Founder's Fund, 137 Ventures, and Valor Equity Partners. Fidelity is also a major investor, alongside Alphabet, the parent company of Google.

If SpaceX were to sell five per cent of its shares at its targeted valuation of £1.1 trillion ($1.5 trillion), it would need to raise about £30.1 billion ($40 billion) in the offering, according to the BBC's analysis. Such a sale would surpass the previous IPO record and mark a defining moment in the history of global capital markets.