SpaceX Files for Massive IPO Following xAI Merger; Targets $1.75 Trillion Valuation

Elon Musk's SpaceX has filed for a U.S. IPO following its merger with xAI. The listing could raise $50 billion, potentially making it the largest IPO in history.

By: AXL Media

Published: Apr 2, 2026, 4:23 AM EDT

Source: Reuters

The "Muskonomy" Conglomerate

The IPO filing marks a turning point for the world's most valuable privately held company. The $1.75 trillion valuation is underpinned by a massive consolidation of Musk's interests:

The Merger: SpaceX recently merged with xAI, valuing the rocket division at $1 trillion and the xAI (developer of the Grok chatbot) at $250 billion.

Revenue Engine: SpaceX reported approximately $8 billion in profit on roughly $15 billion to $16 billion in revenue for 2025.

Starlink's Dominance: With 9 million subscribers, defense contracts, and a global data network, Starlink is viewed by analysts as the primary driver of recurring revenue.

Breaking IPO Records