SpaceX Plans to Set Aside up to 30% of IPO for Retail Investors, Pursuing $1.75 Trillion Valuation

SpaceX is preparing what could become the largest IPO in history, targeting a $1.75 trillion valuation with plans to raise $75 billion. In an unusual move, the company plans to allocate up to 30% of shares to retail investors, roughly triple the typical 5-10% retail allocation in major IPOs. Bank of America will manage the domestic retail distribution, while Citigroup handles international and institutional channels .

The valuation surge from an earlier $1.5 trillion target reflects the integration of xAI following SpaceX's February 2026 acquisition, which positions the combined entity to build orbital data centers linking Starlink's satellite network with xAI's large language models. Starlink's profitability, exceeding $8 billion in 2025, provides the revenue foundation underpinning the ambitious valuation.

The outsized retail allocation appears designed to leverage Elon Musk's massive individual following, potentially creating a loyal long-term shareholder base. If the IPO proceeds as planned, it would eclipse Saudi Aramco's $29.4 billion record by an extraordinary margin, marking a watershed moment for both the space industry and public markets.