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SpaceX’s planned IPO is drawing close market attention as investors assess its size, valuation and wider role in AI infrastructure. The Elon Musk-led company aims to raise about $75 billion, which would make the listing the largest IPO on record if completed. However, fresh questions now surround the valuation target, AI lease terms, and future links with Tesla.
Bloomberg reported that SpaceX had lowered its IPO valuation target from above $2 trillion to at least $1.8 trillion after talks with advisers and investors. Musk rejected that claim in a one-word post on X, saying, ‘False.’ The denial placed fresh attention on the pricing process before formal marketing began.
However, reports still suggest that discussions remain active and that final terms may shift before pricing. SpaceX has also been linked to an earlier target near $1.75 trillion. That range would still place the company among the most valuable firms seeking a public listing.
Market attention remains high as SpaceX plans to list on Nasdaq under the ticker SPCX. Formal marketing is expected to begin on June 4, while pricing has been targeted for June 11 or June 12. Even so, those dates may change if investor feedback alters the final schedule.
A $75 billion raise would exceed every previous IPO. It would also test demand for a company that combines rockets, satellites, broadband, AI infrastructure, and Musk’s wider business network.
SpaceX’s IPO filing also drew attention to its AI infrastructure business. The filing showed a large compute deal with Anthropic, priced at $1.25 billion per month. Some reports framed the deal as a long-term arrangement running through May 2029.
Musk later clarified the structure and said SpaceX had not committed to a multi-year lease. He stated, “SpaceX has not committed to leasing Colossus for years, although it's possible that may be what happens.” He added that the deal is a 180-day lease with a 90-day mutual cancellation clause.
That clarification matters for investors reviewing SpaceX’s future revenue. A short-term lease offers flexibility, yet it may also change how investors value the AI segment. Musk said SpaceX requested the shorter structure in case it needs more computing capacity later.
SpaceX’s filing also outlined a large total addressable market across space, connectivity, and AI. The company placed its combined market opportunity at $28.5 trillion. That figure includes Starlink broadband, mobile connectivity, AI infrastructure, digital ads, consumer subscriptions, and enterprise applications.
Meanwhile, Wall Street commentary has added another point of focus. Wedbush analyst Dan Ives has said SpaceX and Tesla could merge in 2027. He has linked the idea to Musk’s broader technology network, including AI, space systems, robotics, and data infrastructure.
Other reports have also pointed to claims that passive retirement funds could buy SpaceX shares after the listing. Hedgeye said index rule changes may allow large funds tied to the S&P 500, Nasdaq 100, and Russell 1000 to buy SPCX sooner than usual. Those claims remain tied to index rules and future eligibility.
A SpaceX-Tesla merger remains a forecast, not a confirmed plan. However, Tesla already has exposure to SpaceX, and both companies share links through Musk-led projects. Reports have also cited joint work in AI and manufacturing as reasons analysts continue to watch the two companies together.
For now, the IPO remains the main event. Investors are weighing Musk’s denial, the Anthropic lease clarification, SpaceX’s losses, and the scale of the planned raise. The next step is the marketing phase, where investor demand may decide the final valuation.
Also Read: SpaceX IPO Could Make Elon Musk’s Closest Allies Billionaires
