Analysts highlight concerns over SpaceX’s $1.77 trillion valuation goal despite $18.7 billion revenue in 2025.
SpaceX, valued at $1.25 trillion after merging with Elon Musk’s xAI, plans one of the largest IPOs in history. The company reported $18.7 billion in revenue for 2025 but faces questions over spending and profitability as it expands into rockets, satellite internet, and AI data centers.
Analysts warn the $1.77 trillion target valuation may be ambitious, with Morningstar and other firms raising doubts about sustainability. The filing, spanning 270 pages, outlines broad ambitions but lacks clarity on near-term financial returns for investors.
Market reaction remains cautious as traders weigh the hype against operational risks in a high-cost, competitive sector.