SpaceX Valuation Could Surpass Tesla Upon IPO Amid Strong Earnings
SpaceX is targeting a $1.75-2 trillion valuation with its IPO on Nasdaq, a valuation higher than Tesla's, based on the Starlink satellite internet business's strong revenue growth. Starlink generated $11.4 billion in revenue, up 50% YoY, with 10.3 million subscribers and $7.2 billion in adjusted EBITDA. In contrast, Tesla faces declining vehicle sales and significant investments in speculative projects.
SpaceX is preparing to go public with an initial public offering (IPO) targeting a $1.75-2 trillion valuation, positioning it above Tesla's market value, according to . This valuation is underpinned by the success of Starlink, SpaceX's satellite internet business. Starlink reported revenue of $11.4 billion, a 50% increase year-over-year , alongside a growing subscriber base of 10.3 million and $7.2 billion in adjusted EBITDA .
The pitch for a $1.75-2 trillion valuation hinges on whether public-market investors will underwrite Starlink's $11.4 billion revenue base and $7.2 billion adjusted EBITDA at growth multiples comparable to AI-infrastructure peers, rather than discount the company for satellite-network capex and execution risk on Starship . Comparisons to TSLA sharpen the contrast: Tesla is contending with softer vehicle volumes and heavy spend on autonomy and robotics, while Starlink's subscriber economics and free-cash-flow trajectory are accelerating.
Key items for investors to watch as filings emerge: the share class structure (founder voting control is expected to persist), Starlink standalone disclosures, capex guidance for the Starship/V3 satellite ramp, and any government-contract revenue concentration that could trigger national-security review on offering size.
Related Stocks
Powered by SentiSense - Intelligent Market Analysis