SpaceX Said to Pursue 2026 IPO Raising Far Above $30 Billion

Dec 9, 2025

David Schassler, Head of Multi-Asset Solutions at VanEck Funds, and Joyce Huang, Senior Client Portfolio Manager at American Century Investments, discuss SpaceX's ambitious IPO plans targeting a staggering $30 billion and a valuation of $1.5 trillion. They explore how Starlink's growth reinforces this valuation and delve into macroeconomic themes affecting markets, including AI adoption and Fed policy. Schassler provides insights on tech positioning, while Huang highlights investor flows and implications for fixed income, making for a compelling financial discussion.

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INSIGHT

SpaceX Moves Toward Massive 2026 IPO

SpaceX is advancing plans for a full-company IPO targeting mid-to-late 2026 with a potential valuation near $1.5 trillion.
Eric Johnson says Starlink growth plus Starship development give SpaceX strong momentum to pursue a massive offering.

ANECDOTE

Real-World Starlink Impressions

Carol Massar and Tim Stenovec share first-hand Starlink experiences, praising service on flights and boats.
Eric Johnson relays an Alaska Airlines CEO story showing airline executives are eager to adopt Starlink.

INSIGHT

Starlink Improves With Scale

Starlink's performance improves as satellite capacity increases, making it more competitive even where fiber exists.
Eric Johnson notes airlines and other customers are starting to bet on improved Starlink service.

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SpaceX is moving ahead with plans for an initial public offering that would seek to raise significantly more than $30 billion, people familiar with the matter said, in a transaction that would make it the biggest listing of all time.

The Elon Musk-led company is targeting a valuation of about $1.5 trillion for the entire company, which would leave SpaceX near the market value that Saudi Aramco established during its record 2019 listing. The oil major raised $29 billion at the time.

SpaceX’s management and advisers are pursuing a listing as soon as mid-to-late 2026, said some of the people, who declined to be identified because the matter is confidential. The timing of the IPO could change based on market conditions and other factors, and one of the people said the timing could slip until 2027.

A representative for SpaceX didn’t immediately respond to a request for comment.
Bloomberg and other media reported on Friday that SpaceX is exploring a possible IPO as soon as late next year. Musk and the company’s board of directors advanced plans for the listing and fundraising — including hiring for key roles and how it would spend the capital — in recent days as SpaceX firmed up its latest insider share sale, one of the people said.

SpaceX’s faster path to public markets is in parts fueled by the strength of its fast-growing Starlink satellite internet service, including the promise of a direct-to-mobile business, as well as the development of its Starship moon and Mars rocket.

Today's show features:

Bloomberg News Global Business of Space Editor Eric Johnson on SpaceX's plans for a 2026 IPO
David Schassler, Head of Multi-Asset Solutions of VanEck Funds, on the market outlook ahead of Wednesday’s Fed decision and why he sees more volatility ahead in the tech sector
Joyce Huang, Senior Client Portfolio Manager with American Century Investments, on the fixed income market and the Federal Reserve’s path forward
Bloomberg News Americas Finance Team Leader Sally Bakewell on Saudi Arabia's Public Investment Fund, the Qatar Investment Authority, and Jared Kushner's Affinity Partners taking part in the Paramount Skydance hostile takeover bid for Warner Bros. Discovery

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