SpaceX Eyes $1.75 Trillion Valuation Ahead of Highly Anticipated IPO

SpaceX is preparing for a public market debut with a projected valuation of $1.75 trillion, a figure that would place it among the most valuable companies in the world. This target valuation exceeds the current market caps of Tesla, Walmart, and Berkshire Hathaway, signaling massive investor expectations for the company's future trajectory. The valuation is heavily predicated on the rapid expansion of Starlink, the company's satellite-based internet arm. As of February 2026, Starlink has grown its user base to over 10 million customers across 160 countries and markets. Proponents of the valuation argue that if Starlink reaches 50 million subscribers with a blended average monthly rate of $100, annual revenues could climb to $60 billion. From a traditional metrics standpoint, the $1.75 trillion target appears aggressive. With reported annual revenues of approximately $18.5 billion last year, the company's price-to-sales (P/S) ratio stands at nearly 95. For comparison, this is higher than the multiple seen in other high-growth AI stocks like Palantir Technologies. However, the company's value extends beyond Starlink, which accounted for roughly 61% of total revenue last year. SpaceX is also leveraging its launch business and the integration of xAI. Elon Musk has suggested that the cost of deploying AI in space could drop below terrestrial costs within two to three years, primarily due to the availability of constant solar power for data centers. The upcoming IPO represents a pivotal moment for the space economy, potentially shifting investor focus toward orbital infrastructure and space-based computing as the next frontier for artificial intelligence growth.