On May 29, foreign media outlets, citing sources with insider knowledge, disclosed that SpaceX, the aerospace company helmed by Musk, has revised its target valuation for its upcoming initial public offering (IPO) downward. The new valuation stands at a minimum of $1.8 trillion, a notable decrease from the previously mooted figure of $2 trillion. This recalibration followed extensive consultations with financial advisors and potential investors.

It's worth noting that details surrounding the IPO, such as the offering size and final valuation, are inherently fluid and subject to revision until the final pricing is determined, based on comprehensive feedback from all stakeholders involved.

According to reports, SpaceX is poised to commence its roadshow—a series of presentations to potential investors—as early as June 4. The company anticipates finalizing the pricing of its shares by June 11, although the actual commencement of trading could be delayed by a few days.

Discussions pertaining to the IPO are still in progress, and there remains a possibility that SpaceX may opt to elevate its target valuation once again, contingent upon the investor sentiment and feedback garnered during the roadshow.

The prospectus for the IPO reveals that SpaceX's revenue surged to $18.7 billion in 2025, marking a significant increase from the $14 billion recorded in the previous year. However, the company's financial performance took a downturn, transitioning from a profit of $791 million in 2024 to a substantial loss of $4.94 billion in 2025.

In a strategic move earlier this year, in February, SpaceX announced its acquisition of xAI, another venture led by Musk. This transaction valued SpaceX at approximately $1 trillion and xAI at around $250 billion, further underscoring the company's ambitious growth trajectory.