The chart compares completed IPO proceeds of $50M+ since 2019 with SpaceX’s reported expected IPO proceeds of $80B+.
SpaceX’s figure is shown as a reported/expected target, not a completed IPO.
All figures are gross proceeds in U.S. dollars.
For context, Saudi Aramco’s 2019 IPO raised $25.6B, the largest completed IPO in the dataset.
If SpaceX reaches the reported $80B+ target, it would be more than 3× Aramco’s record IPO.
The scale is partly explained by the capital needs behind the business.
According to the filing and Bloomberg Intelligence, SpaceX plans to use proceeds for AI compute infrastructure, launch infrastructure and vehicles, and satellite constellation capacity.
2025 financial context:
• Starlink/Connectivity: +$4.42B operating income
• xAI: -$6.4B operating loss
• AI-related capex: 61% of SpaceX’s $20.74B total capex
So the simple read is: Starlink generates cash, while AI infrastructure and Starship consume capital.
That is why I wanted to compare the reported IPO target against the biggest completed listings of recent years.
by ExaminationOk6652
9 Comments
Data sources: FactSet, company filings, Bloomberg Intelligence.
Tools used: Python for data cleaning; Adobe Illustrator for final design.
Love the fact that SpaceX is trying to raise 6-years-worth of revenue on a trillion-dollar valuation…
I don’t understand how so many fools are rushing into this rugpull
Just as a heads-up for anyone confused by this chart – an IPO (initial public offering) is when a private company lists on the stock exchange, but they don’t have to list that much of the company.
The $80m represented here isn’t how much SpaceX would be worth after tbe IPO, it’s the (estimated) value of the shares that would be sold in the initial “offering”.
Say it with me gang… R U G P U L L
Lmao the top is definitely in
Right now SpaceX has an extremely good position. Absolute dominance in the launch market, they have by far the best rocket around and they can launch it very often.
Starlink has no competition, no other satelite internet offers similar bandwidth and ping.
Love it to see how it dumps without that income flowing through.
This guy is going to ruin everything we have and hold dear.