SpaceX Targets Mega 2026 IPO as Wall Street Giants Line Up
– 3 min read
SpaceX Targets a Mega 2026 IPO
SpaceX is preparing for a potential initial public offering in 2026 that could rank among the largest public listings in history. The company is engaging with leading Wall Street investment banks as part of early-stage planning, signaling the scale and complexity of a possible market debut. While the timing and structure remain subject to market conditions, the preparatory steps indicate that SpaceX is positioning itself for a significant public-market transaction.
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SpaceX has been holding discussions with major investment banks, with several large financial institutions emerging as candidates for senior underwriting roles. Morgan Stanley, which has a long-standing advisory relationship with Elon Musk, is considered a leading contender. Bank of America is also among the banks being evaluated, underscoring the level of competition among top-tier financial firms for participation in the offering.
The potential scale of the transaction is substantial. A recent secondary share sale implies a valuation of approximately $800 billion. In parallel, SpaceX has explored the possibility of raising more than $25 billion through the IPO itself. If executed at these levels, the offering would place SpaceX among the largest IPOs globally in terms of both valuation and capital raised.
SpaceX’s IPO planning coincides with a broader wave of large technology companies preparing for potential public listings. Artificial intelligence firms such as Anthropic and OpenAI are also reportedly laying groundwork for future IPOs. This broader context highlights a potential shift in U.S. capital markets toward large-scale listings by companies operating critical technology infrastructure across sectors such as space, artificial intelligence, and communications.
Selection of Four Major Wall Street Banks as Lead Underwriters
SpaceX is assembling a group of leading investment banks to support a potential public listing. Four major Wall Street institutions are being considered for senior underwriting roles, reflecting the size and complexity of the proposed transaction. Lead underwriters play a central role in structuring the IPO, marketing shares to institutional investors, and managing the execution of the offering.
Morgan Stanley and Bank of America have emerged as frontrunners for key positions, alongside other large financial institutions. Morgan Stanley’s existing relationship with SpaceX and Elon Musk may provide an advantage, while Bank of America’s involvement highlights the competitive nature of the mandate.
Engaging multiple major underwriters would allow SpaceX to access a broad global investor base and manage the logistical demands of a large capital raise. The involvement of several top-tier banks suggests that, if launched, the IPO would be positioned as a major market event rather than a limited or incremental listing.
The Scale of a Historic IPO
The proposed IPO could value SpaceX at up to $800 billion, placing it among the world’s most highly valued companies at the time of listing. This valuation level is based on prices discussed in secondary market transactions, where existing shareholders sell shares to new investors prior to a public offering.
In addition to valuation, SpaceX has considered raising more than $25 billion in new capital through the IPO. A capital raise of this magnitude would provide substantial funding capacity for long-term initiatives, including satellite network expansion, launch infrastructure, and deep-space development programs.
If completed as currently discussed, the IPO would rank among the largest public offerings globally. The ongoing secondary share sale provides an indication of investor demand and pricing expectations ahead of any formal listing, suggesting strong interest from private-market participants. However, final valuation, deal size, and timing will ultimately depend on market conditions, investor sentiment, and broader economic factors at the time of execution.
