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On December 13, 2025, SpaceX took an important step towards an initial public offering (IPO) that could happen in 2026. In an internal letter sent to shareholders, CFO Bret Johnsen confirmed that the company had authorized an internal stock sale valuing SpaceX at around $800 billion as part of preparations for an IPO. This approach is part of a context of growing interest in financial markets for deep tech companies capable of combining technological growth and long-term revenue potential.
SpaceX is preparing for a potential IPO in 2026 with an internal valuation of around 800 billion USD, based on an internal stock sale. The actual fundraising and final valuation will depend on market conditions and the company's decision, and are not yet officially confirmed.
This operation does not guarantee that the IPO will take place on a specific date or that it will reach a certain valuation. SpaceX indicated that the timing of the offer, its valuation and its success will depend on market conditions and the strategic execution of the company.
The sale of internal shares, also called secondary offering, consists in offering shares to existing investors, participations and sometimes to the company itself, without raising new funds directly for the company's operations. In this transaction, SpaceX is offering approximately $2.56 billion in shares to eligible shareholders at a price of approximately $421 per share.
For entrepreneurs and investors, this means that SpaceX did not raise any new operational funds through this transaction and that the valuation of ~800 billion USD is indicative of the private market, not the public market where the IPO will take place. An IPO could take place if the financial markets remain favorable and if the corporate strategy is considered solid by public investors.
According to reports based on sources familiar with the matter, SpaceX plans to potentially raise more than $25 billion during the IPO. This sum could make the operation one of the largest IPOs in world history. Executives continue to discuss valuation levels that could exceed the $1 trillion threshold if investor demand is strong.
This strategy would in particular make it possible to finance the acceleration of the Starship program, the development of data centers in orbit adapted to artificial intelligence, as well as ambitious projects such as the construction of lunar bases and manned and robotic missions to Mars.
The valuation of around 800 billion USD places SpaceX among the most valuable private companies in the world before an IPO. This is a strong signal for entrepreneurs who are developing long-term technologies, especially in aerospace, critical infrastructure, big data and artificial intelligence, as well as satellite networks and global digital services. Private markets show that they can value models that are still not listed at very high levels on the basis of anticipated growth, major innovation and long-term strategic contracts.
A significant part of this valuation is driven by Starlink, SpaceX's satellite internet service. Its rapid growth, the expansion of its services, including projects to connect directly to mobile devices, and its recurring revenue model reinforce the attractiveness of the project for private investors.
A successful SpaceX IPO, even if it remains conditional, would have profound implications for the entrepreneurial ecosystem. It could redefine fundraising standards in large-scale technology sectors. Early stage investors, such as funds, business angels and incubators, could finally liquidate their positions, potentially freeing up capital to reinvest in new businesses. A major IPO in space tech would reinforce the idea that technically complex models can achieve significant public valuation.
However, the IPO is not yet confirmed and will depend on numerous factors, including the state of the financial markets, SpaceX's operational performance, and the strategy of its management team.
It is essential to understand that a valuation of 800 billion USD is not a guarantee of public valuation. It reflects the valuation of the private market when selling internal shares. The IPO remains conditional on the evolution of the markets and if they become unfavorable or volatile, the date or the strategy could change. Finally, this valuation is based on future expectations, not only on current financial results, which involves risks if the projections do not come true.
SpaceX is in the process of laying the foundations for a possible IPO in 2026, with a private valuation of around 800 billion USD via an internal share sale. For entrepreneurs, this evolution is a strong strategic signal: ambitious and capitalistic technological models can reach extremely high levels of valuation if their growth potential is credible, even before entering public markets. However, this preparation is not a guarantee of success and will depend on SpaceX's operational execution, global economic conditions, and public procurement response.
