If there is something that Elon Musk has been repeating since before Starship was called Starship, it is that SpaceX would not go public until the gigantic Martian rocket was flying regularly. The excuse was that Wall Street likes short-term profitability plans more than multi-generational plans to colonize Mars. But the script has changed: SpaceX is preparing its jump onto the stock market, and not to pay for the trip to the red planet. He does this because he needs a lot of capital for “something more” than Starship and Starlink.
The largest IPO in the United States. As revealed BloombergSpaceX plans to launch a Public Offering in late 2026 or early 2027. The company is seeking a valuation of $1.5 trillion (trillion, on an American scale) and more than $30 billion in cash, dizzying figures that would be the largest IPO in the history of the United States, close to the global record set by Saudi Aramco in 2019.
Musk has been leaving breadcrumbs in X for days about this change in strategy. When the first rumors leaked about a financing round that valued the company at 800,000 million, the tycoon denied itclarifying that “the valuation increases are based on the progress of Starship, Starlink… and one more thing, which is possibly the most significant by far.” What is that thing that makes another round of investment insufficient?
Orbital computing. What is clear from Musk’s latest tweets is that SpaceX wants to raise a lot of cash with its IPO for more than just Starship and Starlink: to develop space data centers. The logic, that Musk himself considers validis the same one that other companies like Google are following, but with the advantage of being the largest rocket launcher in the world.
On Earth, AI data centers have two major bottlenecks: power and cooling. In space, satellites can receive sunlight 24 hours a day without atmospheric interference and with the possibility of dissipating heat on the dark side of the satellite, eliminating complex water systems and air conditioning of the Earth.
Beyond Starlink. SpaceX already has a constellation of 9,000 satellites in orbit, many of them interconnected by laser links. The plan would be to take advantage of all the knowledge and technology that the company has to create a new constellation of localized AI: in Musk’s words, the cheapest way to generate AI bitstreams in less than three years.
Their roadmap is hard science fiction: scale up to adding 100 GW of capacity per year using high-bandwidth lasers connected to the Starlink constellation itselfwhich is already highly profitable. And from there we move on to factories on the Moon and the use of electromagnetic rails to launch these AI satellites without the need for rockets.
The umpteenth gold rush. Figures like Sam Altman, Eric Schmidt either Jeff Bezos They are already moving to have their piece of the pie in the orbital data center business. Google created the Suncatcher project and Nvidia collaborates with Starcloudwhile smaller startups like Aetherflux have announced projects like “Galactic Brain” planned for 2027.
The difference is that SpaceX has the launch experience and is building the largest rocket in the world, with the peculiarity that it aspires to be completely reusable.
It’s just the beginning. If 1.5 trillion is already a historic valuation, a recent report by ARK Invest projects that by 2030, SpaceX’s enterprise value could be around $2.5 trillion in a base case scenario, driven almost entirely by recurring revenue from Starlink and declining launch costs thanks to Starship reusability.
Going public in 2026 would not just be a financial operation: it would give SpaceX the capital it needs to become the backbone of AI computing infrastructure, turning an internet service like Starlink into something that Musk himself considers “much more significant.”
Images | SpaceX
In Xataka | Building data centers in space was the new hot business. Elon Musk just broke it with a tweet
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