BlockBeats news: On June 7, Shay Boloor, Chief Market Strategist at Futurum Equities, stated in his latest analysis that next week’s SpaceX IPO will be “one of the most significant public market events in a trader’s lifetime.” SpaceX is not merely a rocket company but should be defined as a super-infrastructure platform integrating three trillion-dollar themes: space launch, communications connectivity, and AI. SpaceX is currently scheduled to list on June 12 under the ticker SPCX, with a target valuation of $1.8 trillion and up to $75 billion in fundraising, making it one of the largest IPOs in history.
Shay Boloor stated: “If you want to hold the category leader in space over the next decade, it’s SpaceX. Although its current valuation, based on annualized revenue of approximately $20 billion, seems extraordinarily high, the forward-looking rationale is compelling: Starlink is the primary valuation driver, with 2025 revenue projected at $11.4 billion—a 50% year-over-year increase—and operating profit of $4 billion, serving 10.3 million subscribers, double the prior year, and already addressing residential, aviation, maritime, and direct-to-cell use cases as a clear high-margin compounding revenue engine; Starship is the strategic ace, with reusability set to dramatically reduce costs and unlock new markets.”
SpaceX disclosed its three major business segments in the S-1 filing: the Space/Launch segment generated $4.1 billion in revenue in 2025 and completed 170 launches, accounting for the majority of global orbital capacity; the AI/xAI segment generated $3.2 billion in revenue in 2025 but incurred an operating loss of $6.4 billion, making it the most contentious point—yet 75% of Q1 capital expenditures ($7.5 billion) were directed toward AI, and Anthropic signed a $45 billion contract, effectively transforming xAI from a cash-burning venture into an AI infrastructure business with tangible contractual demand. Shay concluded that SpaceX’s near-term valuation is already highly aggressive, but its long-term bull case remains strong, making it suitable as a core holding.
Over the past 24 hours, trading volume for SpaceX (SPCX) on the trade.xyz Pre-IPO board has reached $12.4 million, with current holdings reported at $591.1 million, representing a 39% increase over 24 hours. The current price is $172.83, implying an implied valuation of $2.05 trillion. When SPCX trading launched, the price was $150, based on a fully diluted reference share count of 11.87 billion shares, resulting in an initial reference market capitalization of $1.78 trillion.