SpaceX, Elon Musk's aerospace company, is pushing ahead with its historic IPO. Bloomberg reported, citing sources, that SpaceX has moved the employee stock option vesting date from May to April, effective as early as next week, clearing one of the last hurdles for a public offering valued at over $2 trillion.
Vesting Acceleration: Easing Employee Anxiety Over Liquidity
The vesting date is when employee stock options become eligible for sale. SpaceX informed staff the date would shift from May to April. Bloomberg noted the accelerated vesting aims to ease worries about how many shares employees can sell after listing—previously, options were locked until vesting, and the company's long-held private status prevented early employees from cashing out paper wealth.
Largest IPO Ever: $2 Trillion Valuation, $75 Billion Target
Bloomberg also outlined the IPO timeline: May—filing with the SEC; week of June 15—pricing; fundraising target of $75 billion; valuation goal above $2 trillion. If achieved, it would dwarf Saudi Aramco's $25.6 billion record in 2019. SpaceX earlier this year bought AI subsidiary xAI in an all-stock deal, valuing the combined entity at ~$1.25 trillion—a roughly 60% valuation jump in months.
xAI Integration Pain: Departures and Hires
Alongside IPO preparations, SpaceX is rebuilding its AI unit xAI, which saw mass departures of core staff and founding members after acquisition. The company is cutting redundant roles and poaching from rivals to restructure the team. The turmoil highlights the challenge of integrating rocket launches (SpaceX), satellite internet (Starlink), AI (xAI), and social platform X under one balance sheet—boosting valuation narrative while raising management complexity.
Alphabet's $100B Paper Profit; Starlink Revenue Surge
According to regulatory filings, Alphabet's early investment in SpaceX now carries paper gains near $100 billion, making it one of the biggest potential winners from the super-IPO. Starlink had surpassed 10 million subscribers by February 2026, with estimated annual revenue of $22-24 billion. Strong investor demand could propel SpaceX into major indices like the Nasdaq 100 shortly after listing, triggering passive fund inflows.