benzinga27d ago
SpaceX's IPO filing is not just big. According to Aurelion Research, it is bizarre enough to belong in its own category. Aurelion's section title, from a note published this week, says it plainly: "SpaceX (SPCX): The Craziest IPO Ever Filed." Then comes the line that explains why this is not just ordinary market hyperbole: "The S-1 IPO filing reads like a sci-fi novel." In most IPOs, investors argue about revenue growth, margins, customer concentration, valuation multiples, and governance. In SpaceX's case, they still have to do all that — but they also have to think about orbital data centers, AI infrastructure, Elon Musk's voting control and, yes, a permanent Mars colony with at least one million inhabitants. That is what the headline means. Wall Street is not literally being asked to forecast subscription revenue from future Martians. It is being asked to value a company whose own investor story, as described by Aurelion, stretches far beyond rockets and satellites into a world where Mars colonization is tied to CEO incentives and AI infrastructure is central to the valuation case. data-variant="card" data-news-mode="manual" > Read Also: SpaceX's $60 Billion Cursor Deal Brings New Rules For xAI Staff The numbers are already extreme. Aurelion says SpaceX filed for what would be the biggest IPO in history, targeting a $1.75 trillion valuation. It says the company generated $18.7 billion in 2025 revenue, but still lost $4.9 billion, with $37 billion in cumulative losses since Musk founded it in 2002. Reuters also reported that SpaceX is targeting a record IPO valuation and is looking to raise ... Full story available on Benzinga.com
