Key events
Introduction: SpaceX aiming for $1.5tn valuation
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Elon Musk’s SpaceX is aiming to hold one of the biggest stock market listings of all time next year, according to reports.
SpaceX, which designs and manufactures rockets and spacecraft and is pioneering the idea of reusable rockets, is aiming for a valuation over $1trn by selling shares to investors in 2026, Bloomberg and Reuters are both reporting.
Bloomberg says SpaceX is seeking to raise significantly more than $30bn, and targeting a valuation of about $1.5tn for the whole company.
That would be a slightly larger share sale than Saudi Aramco’s IPO in 2019, which raised $29bn, giving the oil giant a valuation of around $1.7tn.
Reuters says SpaceX is hoping to “raise more than $25bn, with a valuation over $1tn”.
A one trillion dollar valuation would put SpaceX into the ranks of the 10 largest US listed companies.
SpaceX is expected to use funds from the public listing to develop space-based data centers, including purchasing the chips required to run them – an idea which both Musk and Google’s CEO Sundar Pichai have shown interest in.
SpaceX is currently developing Starship, the biggest and most powerful rocket ever, which traveled halfway across world in successful test flight in October. It’s designed to take crew and cargo into Earth’s office, to the moon, Mars, and beyond, SpaceX says.
SpaceX also operates rocket flights for other organisations, such as NASA, and runs the fast-growing Starlink satellite internet service.
SpaceX is also understood to be conducting a secondary share sale – allowing insiders to sell shares to other investors – at a reported valuation of $800bn. That put it near against OpenAI in the race for the title of the most valuable private company [The AI company is thought to be preparing for a $1tn IPO next year], but its ambitions now appear to be higher….
The agenda
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10am GMT: Treasury Committee hearing on budget with chancellor Rachel Reeves
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10.45am GMT: Bank of England governor Andrew Bailey speaks at FT Global Boardroom conference:
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Noon GMT: US weekly mortgage market data
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7pm GMT: US Federal Reserve interest rate decision
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7.30pm GMT: Federal Reserve press conference
