Elon Musk has denied a report that SpaceX lowered its initial public offering valuation target ahead of its expected market debut. Musk replied “False” on X after a post cited Bloomberg’s report that SpaceX was now targeting a valuation of at least $1.8 trillion.
The response added fresh attention to one of the most closely watched IPO plans in global markets. SpaceX is expected to list under the ticker SPCX, with investors tracking its valuation, fundraising size, and listing timeline.
Bloomberg reported that SpaceX is currently targeting a valuation of at least $1.8 trillion in its planned IPO. The report cited people familiar with the matter and said the figure was below an earlier target of above $2 trillion.
Musk rejected that claim in a short X response. His one-word reply, “False,” came after ZeroHedge shared the report and said SpaceX had reportedly lowered its IPO valuation target.
IPO valuation ranges can move before final pricing as banks test investor demand. Bloomberg also reported that deliberations remain ongoing and that SpaceX could raise its target depending on feedback during the marketing process.
The report said SpaceX may seek to raise as much as $75 billion. That size would make the offering one of the largest IPOs ever if completed as described.
SpaceX is expected to begin formal IPO marketing as soon as June 4, according to Bloomberg’s report. Pricing could happen as early as June 11, although the timeline may still shift by several days.
The company expects to list on Nasdaq and Nasdaq Texas under the ticker SPCX. Goldman Sachs, Morgan Stanley, Bank of America, Citigroup, and JPMorgan Chase are among the banks leading the offering, alongside several other underwriters.
SpaceX filed its IPO documents on May 20. The filing showed a company expanding beyond rockets and satellite internet into artificial intelligence services, infrastructure, orbital data centers, and other long-term markets.
The filing also showed $18.7 billion in revenue for 2025, up from $14 billion in 2024. However, SpaceX moved from a $791 million profit in 2024 to a $4.94 billion loss in 2025.
SpaceX announced in February that it had acquired Musk’s xAI, which includes Grok and the social media platform X. Bloomberg reported that the deal valued SpaceX at $1 trillion at the time, while xAI carried a $250 billion valuation.
(adsbygoogle = window.adsbygoogle || []).push({});Prediction market activity also shows strong attention around the IPO. Polymarket pricing cited in market commentary showed traders assigning high odds to SpaceX reaching a market capitalization above $1.8 trillion on IPO day.
Meanwhile, the valuation debate remains unsettled. Bloomberg reported a lower target than earlier expectations, while Musk directly denied that SpaceX had cut its IPO valuation goal. Final pricing will depend on investor demand, marketing feedback, and the company’s decisions before the listing.
