Elon Musk’s space giant could surpass OpenAI as investors bet on Starlink, reusable rockets, and future dominance in the global space economy
MARKET INSIDER – SpaceX is preparing a secondary share sale that would value the company at up to $800 billion, according to The Wall Street Journal — a staggering figure that would make Elon Musk’s aerospace titan one of the most valuable private companies in history. At that valuation, SpaceX would leap ahead of OpenAI, which recently closed a share sale at a $500 billion valuation, cementing Musk’s lead in the AI–space rivalry.
The move comes as SpaceX quietly signals to select investors that it is now considering an IPO as early as the end of next year, marking the clearest indication yet that public markets could soon gain access to the world’s most powerful commercial space platform. Any listing would include Starlink, the company’s rapidly expanding satellite-internet unit and the crown jewel of its recurring-revenue strategy — a business previously considered for a spinout.
SpaceX’s valuation momentum reflects years of heavy investment in reusable rockets, global launch infrastructure, and the world’s largest constellation of low-Earth-orbit satellites. Starlink alone now dominates global satellite connectivity, giving SpaceX an economic moat that rivals such as Jeff Bezos’ Blue Origin are still racing to close. The company has also secured a deep pipeline of NASA and U.S. Department of Defense contracts, reinforcing its role as a critical national-security asset.
Despite this momentum, Musk has long been reluctant to bring SpaceX to public markets, citing the challenges of running a listed company, from “spurious lawsuits” to operational constraints. But last month, during Tesla’s shareholder meeting, he hinted at a shift, saying he wants to “figure out some way for Tesla shareholders to participate in SpaceX” and acknowledged that “maybe at some point, SpaceX should become a public company despite all the downsides.”
If SpaceX does go public in 2026, it would represent one of the most anticipated IPOs of the decade — and a watershed moment for the global space economy, whose commercial opportunities, from satellite broadband to lunar logistics, are expanding at unprecedented speed.
The question now: Will Musk actually pull the trigger? Or is the $800 billion valuation itself the real signal — a message to private markets that the space race has entered a new valuation orbit?
