SpaceX Said to Pursue 2026 IPO
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What is the main topic discussed in this episode?
Hello and welcome. This is The Michelle Hussein Show. I'm Michelle Hussein. I speak with people like Elon Musk. I think I've done enough. And Shonda Rhimes. That's so cute. This will be a place where every weekend you can count on one essential conversation to help make sense of the world. So please join me, listen and subscribe to The Michelle Hussein Show from Bloomberg Weekend, wherever you get your podcasts.
You certainly ask interesting questions.
Bloomberg Audio Studios. Podcasts. Radio. News. Bloomberg Tech is live from coast to coast with Caroline Hyde in New York and Ed Lovelow in San Francisco.
This is Bloomberg Tech. Coming up, a Bloomberg exclusive. SpaceX targeting an IPO next year. The goal, to raise far beyond $30 billion, the most in history. The valuation, around $1.5 trillion. Why? Data centers in space. Plus, open, then closed. Meta making a pivot. On open source models, we have the Bloomberg Deep Dive and reports that DeepSeek smuggled thousands of banned Blackwell chips into China. Nvidia pushes back. Let's get to our top story. It's in the private markets and soon to be public markets. Bloomberg reporting that SpaceX is very much underway targeting an IPO in mid-2026. They want to raise far north of $30 billion. In terms of dollar raised, that would be the biggest IPO in history. The valuation we're hearing, $1.5 trillion.
There's a lot in play here. But my understanding, this is very real. It had an impact in public markets. Some of the names out there in the space sector, particularly Echo Star that is in talks on licensing spectrum deals with SpaceX, really moving over the course of two sessions in reaction to this. I use that as an illustrative example. This is the IPO that all corners of the technology market and the private market have been waiting for. Let's bring in Bloomberg Space Editor Eric Johnson. Eric broke this story with me yesterday afternoon. And we'll go back to the basics of what we're reporting, Eric, because there's a lot of data in there. But the main headline, I suppose, beyond the valuation is SpaceX wants to raise north of $30 billion.
You and I are getting a sense on why they need that capital.
Ed, great to be here and congratulations on your scoop and great reporting. Yes, what we're hearing is a $30 billion raise, which if you look at the history of SpaceX, Musk is known for his grandiose visions. They're building Starship, a colossal rocket, which he expects to put humans on the moon and eventually one day go to Mars. so the money could be used for that. He also has talked about, as you mentioned, the idea of putting data centers in space, harnessing solar power and having a huge amount of computing resources in space. They would need to buy chips to do so, so the money could be used for that. Of course, the other side of SpaceX is Starlink, the satellite internet business, which has grown substantially over the past few years.
So there's a huge portfolio that SpaceX is bringing as they transform space travel.
Eric, we're showing the other part of what we reported, which is through our reporting confirmation of this tender or secondary offering that's going on. In other words, SpaceX allowing employees to sell shares. But to do that, you need to set a price. And that gives a valuation. We've now done that reporting.
What are the details of SpaceX's planned IPO in 2026?
Run us through the numbers that we need to know about this tender. And for me, the important bit here is that this kind of settles valuation ahead of that IPO.
Absolutely. This level sets the market valuation as a precursor to the IPO. But essentially, SpaceX runs biannual tender offers, secondary offerings, where they allow existing shareholders, employees and others, insiders, to essentially generate liquidity from their piece of SpaceX. And so as part of that, They set a valuation of $800 billion, which is a record, beating OpenAI's latest tally from October of $500 billion. So making it, once again, the most valuable startup in the world. So this is walking up to that IPO. And of course, as you mentioned, the IPO would be $1.5 trillion, roughly, valuation.
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Chapters
8 chapters
1
What is the main topic discussed in this episode?
0:00–3:41
2
What are the details of SpaceX's planned IPO in 2026?
3:41–6:01
3
How much capital is SpaceX aiming to raise through its IPO?
6:01–6:52
4
What is the expected valuation of SpaceX at the time of the IPO?
6:52–8:52
5
What impact could SpaceX's IPO have on the space industry?
8:52–13:49
6
How is SpaceX's Starlink contributing to its revenue?
13:49–15:58
7
What are the implications of SpaceX's IPO for its employees?
15:58–20:45
8
What are the challenges SpaceX faces leading up to the IPO?
20:45–45:21
Speakers
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