Quick Read – SPCX seeks a $75 billion raise at up to a $2 trillion valuation, positioning it as potentially the largest IPO in history. – Michael Burry compares the SpaceX frenzy to dot-com as the S-1 shows $18.7 billion in 2025 revenue against a $2.6 billion operating loss. -…
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Elon Musk sat for a CNBC segment last week ahead of the largest IPO in history, and he did something a little odd for someone about to ask public markets for close to $75 billion. He talked about science fiction novels. The improbable origin in an El Segundo warehouse Musk told CNBC he gave SpaceX (NASDAQ:SPCX) “less than a 10% chance of succeeding at all” when he started it, and figured “we should give it a try because if we don’t… we will never be a truly spacefaring civilization.” He credited COO Gwynne Shotwell as an early partner and recalled the company’s first home, a warehouse in El Segundo. “SpaceX was less than 10 people back then.
We didn’t even have office furniture,” he said earlier this month. SpaceX has raised over $9 billion of equity capital since its 2002 founding to fund Space and Connectivity. The Space segment became Adjusted EBITDA positive on a sustained basis in 2018, and Connectivity got there in 2023.