SpaceX has officially launched its historic IPO on June 12, targeting a valuation of ₹14,40,000 crore ($1.75 trillion) - the largest IPO in history. According to multiple reports, the company raised ₹6,25,000 crore ($75 billion) in funds at this estimated valuation, eclipsing the previous global record held by Saudi Aramco's 2019 listing. The stock exchange debut saw SpaceX trading 19% higher on day one, closing at ₹1,58,000 crore ($18.7 billion) in revenue for 2025, representing growth from ₹1,16,000 crore ($14 billion) in 2024. The company reported a loss of ₹4,170 crore ($4.9 billion) in 2025, as per the company's regulatory filings. The stock has since surged more than 60% above its IPO price, touching levels around ₹2,20,000 crore ($28.5 trillion) and briefly overtaking Amazon to become one of the five most valuable companies in the world.
SpaceX has set unprecedented records in options trading activity, with options trading approximately 1.8 million contracts on their first day, smashing the previous debut-day record of about 364,000 contracts set by Meta Platforms in 2012. Total premiums traded were estimated at roughly ₹2,16,000 crore ($26 billion). The company's first trading day saw more than 510 million shares worth roughly ₹4,17,000 crore ($49.1 billion) change hands, despite only a small portion of the company's shares being available for public trading. By the time options began trading, SpaceX had already become the third-most actively traded single-stock options name in the US market, behind only Tesla and Nvidia. Retail investors received roughly 20% of IPO allocations, far higher than most large US offerings, with demand reportedly exceeding available shares multiple times over.
The regulatory filing reveals that SpaceX incurred legal fees and expenses of $25.5 million (around ₹240.9 crore) in connection with its blockbuster $75 billion IPO. According to Bar and Bench, the filing did not identify a General Counsel for SpaceX and disclosed only the aggregate legal costs related to the offering, without specifying the amounts paid to individual law firms involved in the transaction. Law firm Gibson, Dunn & Crutcher LLP acted as lead counsel to SpaceX for the IPO and listing process, with the transaction led by partners Hillary Holmes, Harrison Tucker and Atma Kabad. The offering also included a significant European retail component, with $4 million of the total legal fees specifically linked to the European retail share sale, equivalent to about ₹37.8 crore. For the European portion, Freshfields served as lead legal adviser, while Latham & Watkins advised the underwriting banks on UK and broader European retail offerings.
Elon Musk has made bold statements about SpaceX's revenue potential, telling X that the company 'might be able to reach approximately $1 trillion revenue in 2030' and adding he would be 'surprised' if revenue does not exceed $1 trillion in 2031. This forecast significantly exceeds Wall Street projections, with Goldman Sachs estimating SpaceX's revenue would exceed $470 billion in 2030 and Morgan Stanley projecting it would reach nearly $330 billion, according to a Wall Street Journal report. Musk's projection represents roughly three times Morgan Stanley's estimate for the same year. The claim comes days after SpaceX completed the largest IPO in history, raising $75 billion and closing its first session at a $2.1 trillion valuation, making Musk the world's first trillionaire. However, the company still makes far less money than similarly valued tech giants like Broadcom and Amazon.com.
According to SpaceX's IPO filing, the company reported ₹1,58,000 crore ($18.7 billion) in revenue for 2025, representing growth from ₹1,16,000 crore ($14 billion) in 2024. The company reported a loss of ₹4,170 crore ($4.9 billion) in 2025, as per the company's regulatory filings. The Starlink satellite network currently generates ₹9,700 crore ($11.4 billion) in 2025, with subscribers reaching 10.3 million by March 2026, up from 8.9 million a year earlier. However, achieving the projected $1 trillion by 2030 would demand a 53-fold jump in five years, a growth rate unprecedented among companies of similar size. Recent analysis suggests combining Starlink and AI data center businesses could generate more than $100 billion in revenue by 2030, up from the current $18.7 billion. The company's long-term debt stood at ₹2,36,000 crore ($29.1 billion) at March-end, with the S-1 conceding it 'may not achieve profitability'.
The second major growth driver is SpaceX's artificial intelligence data center business, which recently secured contracts from Anthropic and Alphabet for ₹2,16,000 crore ($26 billion) in annualized spending on AI computing services. According to recent reports, SpaceX plans to enable this data center business to be built in orbit, believing it will deliver tremendous cost savings. The business is currently set to see soaring revenue, though this comes with thin margins due to huge upfront spending on data center investments. Combined with Starlink's satellite internet operations, these two businesses represent the primary pathway to achieving Musk's ambitious revenue projections. The orbital data center concept involves clusters of satellites in low Earth orbit carrying radiation-hardened processors and storage, powered by large solar arrays and batteries, with data sent using laser or radio frequency uplinks. The company claims a ₹2,25,000 crore ($28.5 trillion) total addressable market, of which roughly 90% is attributed to artificial intelligence rather than the Starlink and launch businesses that generate cash today.
