Proactive Investors
04 Jun 2026, 07:14 UTC · 3h ago
SpaceX IPO: The numbers are in, and this rocket looks ready to fly
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Proactive Investors
04 Jun 2026, 07:14 UTC · 3h ago
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Story key points
6 claims · impact-rated
SpaceX plans to IPO on Nasdaq (ticker: SPCX) on June 12, raising between $75 billion and $85.7 billion. — An IPO of this unprecedented scale creates massive liquidity events and shifts capital allocation across the tech and aerospace sectors.
+0.90The listing implies a total market capitalization of $1.785 trillion. — This valuation sets a massive benchmark for private and public AI/space companies, potentially inflating sector multiples.
+0.80SpaceX has repositioned itself as an 'AI services and infrastructure company' following the $250 billion acquisition of xAI. — Pivot to AI allows the company to capture the AI premium in valuations rather than being priced as a traditional aerospace firm.
+0.70Continue reading
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Starlink is the primary profit driver with a quarterly operating profit of $1.19 billion, offsetting losses in the space and AI units. — Strong operational cash flow from Starlink provides the fundamental justification for the high valuation despite other losses.
Elon Musk will retain 85% of voting power through a dual-class share structure. — Extreme concentration of power often creates a governance discount as public shareholders have negligible influence.
-0.40The AI unit reported a $2.5 billion quarterly loss and an increase in R&D costs of over 300% in 2025. — High burn rates in the AI segment introduce significant execution risk and financial volatility.
-0.30Ticker attribution
Model heads
The company is launching the most ambitious IPO in history with strong Starlink profits, despite high AI losses.
Leading the syndicate for a massive, record-breaking $75 billion IPO.
Leading the syndicate for a massive, record-breaking $75 billion IPO.
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