06/09/2026
SpaceX is about to go public at a ~$1.75 trillion valuation.
Here's the tension most people are missing:
They did about $18.7 billion in revenue last year.
That puts the IPO at roughly 90–100x sales.
For context:
Nvidia doesn't trade there
Apple never traded there
Amazon didn't sustain those levels either
So what are investors actually buying?
Not rockets.
Not launches.
Not even Starlink.
They're buying a future where SpaceX becomes:
The backbone of global internet
A dominant AI infrastructure play
And possibly something even bigger we can't model yet
Because on today's numbers, it doesn't pencil.
And that's what makes this so interesting.
The technology is real.
The growth is real.
The ex*****on is real.
But at this price, expectations are doing most of the heavy lifting.
The IPO hits June 12.
Lockups expire months later.
That's when the story meets reality.
So the real question isn't whether SpaceX is a great company.
It's this:
Are you investing in the business…
or the belief of what it might become?
