Elon Musk’s SpaceX (NASDAQ:SPCX) is reportedly targeting a valuation of at least $1.8 trillion for its forthcoming initial public offering, according to a Bloomberg News report citing people familiar with the matter. While lower than earlier internal expectations, the figure would still place the company on course for what could become the largest IPO ever completed.

The revised valuation target reflects ongoing discussions with advisers and prospective investors as preparations for the highly anticipated listing gather pace.

SpaceX aims to raise up to $75 billion

According to Bloomberg, the aerospace and artificial intelligence group is seeking to secure as much as $75 billion through the offering.

The report indicated that formal roadshow presentations for investors could begin as early as 4 June, with pricing of the transaction potentially taking place around 11 June.

If completed at the proposed scale, the flotation would rank among the most significant capital-raising events in financial market history and further cement SpaceX’s status as one of the world’s most valuable private companies.

Valuation expectations adjusted lower

Bloomberg previously reported in April that SpaceX was targeting a valuation above $2 trillion.

However, the latest report suggests management has moderated those ambitions following consultations with financial advisers and potential institutional investors.

Despite the reduction, the proposed valuation remains extraordinary by public market standards and reflects continued confidence in SpaceX’s long-term growth prospects across launch services, satellite communications and artificial intelligence infrastructure.

Bloomberg noted that both the final valuation and the total amount raised remain subject to change and will ultimately depend on investor demand during the marketing process.

Revenue growth accelerates despite swing to loss

Financial information included in the filing reviewed by Bloomberg showed that SpaceX generated revenue of $18.7 billion in 2025, compared with $14 billion in the previous year.

The increase highlights continued expansion across the company’s businesses, including launch operations, satellite services and emerging technology initiatives.

However, profitability moved in the opposite direction as spending accelerated.

According to the report, SpaceX recorded a net loss of $4.94 billion in 2025, compared with a net profit of $791 million in 2024.

The reversal was attributed largely to increased investment in artificial intelligence capabilities and broader infrastructure expansion, areas that management views as critical to supporting future growth.