Elon Musk's aerospace and satellite communications company, SpaceX, is preparing to file confidential documents with the U.S. Securities and Exchange Commission (SEC) for an initial public offering (IPO) as early as March 2026, according to reports from Bloomberg and Reuters. The company is targeting a stock market listing by June 2026 with a potential valuation exceeding $1.75 trillion, which would rank it among the world's largest companies alongside Apple, Microsoft, and Nvidia.
The IPO could raise up to $50 billion, making it the largest in history. SpaceX, headquartered in Starbase, Texas, operates the Falcon 9 rocket system and the Starlink satellite internet network. The company is responsible for more than half of all orbital launches and has pioneered reusable rocket technology. Financially, SpaceX's Ebitda profit margins are estimated to be as high as 50%, significantly above the aerospace industry average of 20%. Starlink was reported profitable in 2024.
A significant complication for the IPO is SpaceX's recent merger with Musk's artificial intelligence startup, xAI. This merger links SpaceX's core operations with xAI's AI computing business, which is not yet profitable and operates in a capital-intensive market, making the combined entity's financial picture more complex. SpaceX could generate up to $10 billion in Ebitda in 2026, depending on how xAI's losses are factored in.
Critically for the crypto market, if SpaceX goes public at this valuation, it is poised to become the second trillion-dollar company after Tesla to hold Bitcoin on its balance sheet, and potentially the largest public company by Bitcoin holdings. The company currently holds approximately 8,285 BTC, with a market value of around $543 million. This revelation ties the landmark IPO directly to cryptocurrency adoption at the corporate level.
The news comes as other major AI firms, OpenAI and Anthropic, are also eyeing 2026 IPOs with targeted valuations of $750–$830 billion and ~$350 billion, respectively. SpaceX has not publicly confirmed the IPO plans, and details remain subject to change.
