SpaceX has lowered its initial public offering valuation target to at least $1.8 trillion [1], according to a report published Friday.
This adjustment signals a shift in how the aerospace company views its market entry. A valuation of this scale would make SpaceX one of the most valuable companies in the world, impacting investor expectations and the broader tech sector.
The company previously targeted a valuation exceeding $2 trillion [2]. The revised target of at least $1.8 trillion [1] follows consultations between SpaceX, its advisers, and investors. These discussions aimed to align the company's goals with current market expectations [3].
The report, originally published by Bloomberg on May 29, 2024 [1], suggests the company is preparing for a listing on the NASDAQ exchange [4]. This move would transition the company from a private entity to a publicly traded one, providing a liquid market for its early shareholders.
However, the reported decrease in valuation is contested. Elon Musk, the CEO of SpaceX, disputed the report on May 30, 2024 [5].
"We have not lowered the valuation target," Musk said [5].
The discrepancy between the reports from sources familiar with the matter and the statement from the CEO highlights the volatility of pre-IPO pricing. While Bloomberg sources indicate a target of at least $1.8 trillion [1], the company leadership maintains that no such reduction has occurred [5].
“SpaceX is targeting a valuation of at least $1.8 trillion for its upcoming IPO.”
The tension between reported valuation targets and Elon Musk's denial reflects the high stakes of a multi-trillion-dollar IPO. If SpaceX successfully lists at $1.8 trillion or more, it will validate the massive scale of its Starlink and Starship ambitions. However, a downward revision—even if denied—suggests that investors may be applying more scrutiny to the company's path to profitability before it hits the public market.
