Overview
- SpaceX surpassed 10,000 active Starlink satellites this week after back-to-back Falcon 9 launches.
- Polymarket traders are pricing a summer listing as the base case, with June 30 at 60% and a 92% chance of ending day one above $1 trillion, though these markets are speculative.
- Reuters has reported IPO talks targeting roughly a $1.75 trillion valuation and up to $50 billion raised, following about $15–$16 billion in revenue and roughly $8 billion in profit last year, largely from Starlink.
- Goldman Sachs currently leads informal underwriting odds at 57%, overtaking earlier expectations that Morgan Stanley would be the frontrunner.
- A February all-stock merger with xAI, which assigned valuations of $1 trillion for SpaceX and $250 billion for xAI, introduces consolidation questions as reports cite about $1 billion in monthly burn and co-founder departures at xAI.