At the end of January SpaceX stopped settling for just being SpaceXand acquired—or would it be better to say “absorbed”?—xAI, the artificial intelligence company also founded by Elon Musk. That movement and the rise of both the space division and the AI division have propelled joint valuation. And with that assessment there is increasingly more clues that the signature prepare now a spectacular IPO.
The largest takeover bid in history. There is already talk that this public offering of shares (OPA, or IPO) could become the largest in history. Its current valuation is around $1.75 trillion, and the company seeks to raise about $75 billion with this IPO, a much higher figure than the previously estimated $50 billion.
Dizzying figures. The record until now was held by Saudi Aramco, which at its IPO in 2019 raised $29.4 billion. If forecasts are met, SpaceX’s market capitalization (xAI included) could reach $1.5 trillion according to some analysts, 94 times what it raised in 2025. In The Information they go further and they affirm that the potential valuation could amount to the aforementioned 1.75 billion dollars.
Exodus in xAI. The xAI acquisition came at a striking time: several of the company’s original co-founders have decided to leave in recent weeks. Elon Musk himself commented on the movements indicating that “xAI has been reorganized a few days ago to improve its execution speed.” Among those who have left are Tony Wu, Greg Yang and Jimmy Babut other members of the technical team They have also left the companyand that talent drain is not a good sign if we take into account that xAI does not seem to be competing with OpenAI or Anthropic in their segments.
SpaceX’s pace of orbital launches is so astonishing that it already surpasses the rest of the world combined. Source: Space Stats.
A treasure called reusable rockets. SpaceX, founded in 2002, is the largest private space company in the United States and already carries out more launches per year than any other company globally. The Falcon 9 reusable rockets and the Starship program They have transformed the aerospace industry, and have made the space race almost non-existent because no one can compete with SpaceX today.
But space enthusiasm. The IPO occurs at a unique time for SpaceX, which has become an absolutely strategic company in several areas. Its growth in income (about 16,000 million in 2025, according to MorningStar) comes from the good performance of its business with Starlink, but things are not going to stop there: the reduction in the costs of launching and putting satellites into orbit is a goldmine, and even opens the doors to realizing Musk’s new objective of create spatial data centers.
The world is in turmoil and SpaceX is doing great. We are also seeing how the war conflicts that are emerging everywhere are being used by SpaceX to “sell” Starlink as a much more interesting connectivity option —or disturbing, depending on how you look at it– when traditional communications fail.
Cover image | Ministry of Communications | SpaceX
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