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SpaceX targets record $86B IPO, aiming for $1.7T valuation

SpaceX targets record $86B IPO, aiming for $1.7T valuation

The largest IPO in history would also bring SpaceX's 18,712 Bitcoin holdings into the public market spotlight.

Tesla Inc. (TSLA) price

Full chart and stats

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Market cap
$1.6T (shares as of 2026-10-15)
P/E (trailing)
447.8 (EPS to 2026-09-30)
Annual revenue
$94.8B USD (FY ended 2025-12-31) 10-K
Annual revenue growth
−2.9% (FY ended 2025-12-31 vs FY ended 2024-12-31) 10-K
Annual net income
3,794,000,000 USD (FY ended 2025-12-31, attributable to the company) 10-K
Annual operating margin
4.6% (FY ended 2025-12-31)
Forward P/E
Unavailable: no dated forecast source

Gloria daily close for session Oct 27, 2026. Market cap and trailing P/E use this close with the SEC share total and trailing diluted earnings, each dated next to its figure. Annual revenue, revenue growth, net income and margin show their own fiscal period and link the 10-K. Current context may postdate this article.

Tesla Inc. and its peers

Company PriceMarket capP/E (trailing)Forward P/EAnnual revenue (USD)Annual revenue growthAnnual net income (USD)Operating margin
Tesla Inc. TSLA · Price dated Oct 27, 2026 · tokenized TSLAx $407$1.6T447.8Unavailable$94.8BFY ended 2025-12-31 · 10-K−2.9%FY ended 2025-12-31 vs 2024-12-31 · 10-K3,794,000,000FY ended 2025-12-31, attributable to the company · 10-K4.6%FY ended 2025-12-31
General Motors Co GM · Price dated Oct 27, 2026 $81$67.9B17.6Unavailable$185.0BFY ended 2025-12-31 · 10-K−1.3%FY ended 2025-12-31 vs 2024-12-31 · 10-K2,697,000,000FY ended 2025-12-31, attributable to the company · 10-K1.6%FY ended 2025-12-31
Ford Motor Co F · Price dated Oct 27, 2026 $12$46.8BNot meaningfulLoss, diluted EPS −1.87
to 2026-06-30 · SEC filing
Unavailable$187.3BFY ended 2025-12-31 · 10-K+1.2%FY ended 2025-12-31 vs 2024-12-31 · 10-K−8,182,000,000FY ended 2025-12-31, available to common stockholders · 10-K−4.9%FY ended 2025-12-31
Rivian Automotive, Inc. RIVN · Price dated Oct 27, 2026 $12$16.1BNot meaningfulLoss, diluted EPS −2.59
to 2026-06-30 · SEC filing
Unavailable$5.4BFY ended 2025-12-31 · 10-K+8.4%FY ended 2025-12-31 vs 2024-12-31 · 10-K−3,646,000,000FY ended 2025-12-31, attributable to the company · 10-K−66.5%FY ended 2025-12-31

Missing figures stay unavailable. Forward P/E requires a dated source. Annual revenue, revenue growth, net income and margin come from each company's own 10-K, in US dollars, and each row shows that fiscal year. Revenue growth compares the fiscal year with the prior year stated in the same 10-K. Net income is the full year amount attributable to the company, or available to common stockholders where the filing states only that, or consolidated net income. Each row names its basis. Trailing P/E reads "Not meaningful" when the dated trailing diluted EPS is a loss or zero. An operating margin appears only when the filing states both the operating income and the revenue for the same year.

Sources: SEC filings, Gloria daily closes, CoinGecko and Databento. Oldest record refresh: Oct 28, 2026, 4:31 PM EDT. Refresh is not a price or filing date. Each row shows its price date and its annual fiscal period. Peers use industry code and company size, or editorial selection. Market cap multiplies that row price by the company share total the latest SEC filing states for every share class together. Trailing P/E divides it by trailing diluted earnings from SEC filings. Rolled earnings per share are approximate because share counts can change between periods. Both appear only when the SEC data carries its date, so they are estimates at one price date, not synchronized filing valuations. Not investment advice.

Token vs underlying stock

Current comparison for TSLA. Historical observations may postdate this article.

TSLAx token unit vs TSLA share · USD

$406.70Oct 27 UTC

+24.1% over displayed period

● TSLAx token┄ TSLA stock: $407.46

Aug 4, 2026: token $327.60 at 20:00 UTC; stock close $327.35 Aug 5, 2026: token $321.77 at 20:00 UTC; stock close $321.55 Aug 6, 2026: token $319.34 at 20:00 UTC; stock close $319.53 Aug 7, 2026: token $328.56 at 20:00 UTC; stock close $328.58 Aug 10, 2026: token $330.41 at 20:00 UTC; stock close $330.88 Aug 11, 2026: token $332.57 at 20:00 UTC; stock close $332.81 Aug 12, 2026: token $327.33 at 20:00 UTC; stock close $327.51 Aug 13, 2026: token $339.84 at 20:00 UTC; stock close $339.96 Aug 14, 2026: token $342.19 at 20:00 UTC; stock close $342.27 Aug 17, 2026: token $339.31 at 20:00 UTC; stock close $339.30 Aug 18, 2026: token $336.76 at 20:00 UTC; stock close $336.87 Aug 19, 2026: token $350.81 at 20:00 UTC; stock close $351.12 Aug 20, 2026: token $344.93 at 20:00 UTC; stock close $345.13 Aug 21, 2026: token $363.21 at 20:00 UTC; stock close $362.86 Aug 24, 2026: token $349.40 at 20:00 UTC; stock close $348.95 Aug 25, 2026: token $350.44 at 20:00 UTC; stock close $350.25 Aug 26, 2026: token $345.96 at 20:00 UTC; stock close $345.82 Aug 27, 2026: token $354.49 at 20:00 UTC; stock close $354.81 Aug 28, 2026: token $348.43 at 20:00 UTC; stock close $348.75 Aug 31, 2026: token $368.11 at 20:00 UTC; stock close $367.95 Sep 1, 2026: token $356.26 at 20:00 UTC; stock close $356.09 Sep 2, 2026: token $356.40 at 20:00 UTC; stock close $357.01 Sep 3, 2026: token $376.26 at 20:00 UTC; stock close $376.37 Sep 4, 2026: token $353.98 at 20:00 UTC; stock close $354.08 Sep 8, 2026: token $367.67 at 20:00 UTC; stock close $368.16 Sep 9, 2026: token $367.89 at 20:00 UTC; stock close $367.81 Sep 10, 2026: token $363.21 at 20:00 UTC; stock close $363.56 Sep 11, 2026: token $365.20 at 20:00 UTC; stock close $365.44 Sep 14, 2026: token $358.97 at 20:00 UTC; stock close $358.97 Sep 15, 2026: token $356.15 at 20:00 UTC; stock close $356.58 Sep 16, 2026: token $357.92 at 20:00 UTC; stock close $358.08 Sep 17, 2026: token $366.16 at 20:00 UTC; stock close $366.20 Sep 18, 2026: token $364.26 at 20:00 UTC; stock close $364.27 Sep 21, 2026: token $375.33 at 20:00 UTC; stock close $375.30 Sep 22, 2026: token $378.85 at 20:00 UTC; stock close $378.90 Sep 23, 2026: token $379.78 at 20:00 UTC; stock close $380.12 Sep 24, 2026: token $378.18 at 20:00 UTC; stock close $377.94 Sep 25, 2026: token $372.41 at 20:00 UTC; stock close $372.11 Sep 28, 2026: token $357.86 at 20:00 UTC; stock close $357.45 Sep 29, 2026: token $352.87 at 20:00 UTC; stock close $352.84 Sep 30, 2026: token $354.55 at 20:00 UTC; stock close $354.81 Oct 1, 2026: token $354.60 at 20:00 UTC; stock close $354.11 Oct 2, 2026: token $370.48 at 20:00 UTC; stock close $370.59 Oct 5, 2026: token $378.53 at 20:00 UTC; stock close $378.73 Oct 6, 2026: token $380.33 at 20:00 UTC; stock close $380.68 Oct 7, 2026: token $377.65 at 20:00 UTC; stock close $377.81 Oct 8, 2026: token $374.64 at 20:00 UTC; stock close $375.00 Oct 9, 2026: token $382.68 at 20:00 UTC; stock close $382.70 Oct 12, 2026: token $377.87 at 20:00 UTC; stock close $378.03 Oct 13, 2026: token $375.78 at 20:00 UTC; stock close $375.23 Oct 14, 2026: token $366.65 at 20:00 UTC; stock close $367.16 Oct 15, 2026: token $362.70 at 20:00 UTC; stock close $362.44 Oct 16, 2026: token $354.41 at 20:00 UTC; stock close $354.72 Oct 19, 2026: token $368.02 at 20:00 UTC; stock close $368.06 Oct 20, 2026: token $373.65 at 20:00 UTC; stock close $373.71 Oct 21, 2026: token $386.28 at 20:00 UTC; stock close $386.47 Oct 22, 2026: token $376.50 at 20:00 UTC; stock close $374.58 Oct 23, 2026: token $372.40 at 20:00 UTC; stock close $372.22 Oct 26, 2026: token $391.19 at 20:00 UTC; stock close $391.62 Oct 27, 2026: token $406.70 at 20:00 UTC; stock close $407.46
Aug 4$319.34 to $407.46Oct 27

Source: CoinGecko + Gloria · Retrieved Oct 28, 19:15 UTC · Delayed

Methodology and data

Split-adjusted regular-session stock closes from the existing Gloria shared history, paired only with an observed token price within 45 minutes of 16:00 New York time. Up to 60 matched sessions. No interpolation or missing-date fill. Weekends and known early closes are omitted. Token units are not adjusted for issuer multipliers or dividend treatment. This compares quoted prices, not fair value, executable premiums or arbitrage returns. Solid line: token. Dashed line: stock. Exact quote times and values appear below. Historical observations. Retrieval refers to the token source. Token quote times use UTC. The fixed cohort shows its oldest member fetch.

Tesla token vs Tesla stock: exact source values
Date (UTC)Token (USD)Stock close (USD)Token quote (UTC)
2026-08-04327.60327.352026-08-04 20:00
2026-08-05321.77321.552026-08-05 20:00
2026-08-06319.34319.532026-08-06 20:00
2026-08-07328.56328.582026-08-07 20:00
2026-08-10330.41330.882026-08-10 20:00
2026-08-11332.57332.812026-08-11 20:00
2026-08-12327.33327.512026-08-12 20:00
2026-08-13339.84339.962026-08-13 20:00
2026-08-14342.19342.272026-08-14 20:00
2026-08-17339.31339.302026-08-17 20:00
2026-08-18336.76336.872026-08-18 20:00
2026-08-19350.81351.122026-08-19 20:00
2026-08-20344.93345.132026-08-20 20:00
2026-08-21363.21362.862026-08-21 20:00
2026-08-24349.40348.952026-08-24 20:00
2026-08-25350.44350.252026-08-25 20:00
2026-08-26345.96345.822026-08-26 20:00
2026-08-27354.49354.812026-08-27 20:00
2026-08-28348.43348.752026-08-28 20:00
2026-08-31368.11367.952026-08-31 20:00
2026-09-01356.26356.092026-09-01 20:00
2026-09-02356.40357.012026-09-02 20:00
2026-09-03376.26376.372026-09-03 20:00
2026-09-04353.98354.082026-09-04 20:00
2026-09-08367.67368.162026-09-08 20:00
2026-09-09367.89367.812026-09-09 20:00
2026-09-10363.21363.562026-09-10 20:00
2026-09-11365.20365.442026-09-11 20:00
2026-09-14358.97358.972026-09-14 20:00
2026-09-15356.15356.582026-09-15 20:00
2026-09-16357.92358.082026-09-16 20:00
2026-09-17366.16366.202026-09-17 20:00
2026-09-18364.26364.272026-09-18 20:00
2026-09-21375.33375.302026-09-21 20:00
2026-09-22378.85378.902026-09-22 20:00
2026-09-23379.78380.122026-09-23 20:00
2026-09-24378.18377.942026-09-24 20:00
2026-09-25372.41372.112026-09-25 20:00
2026-09-28357.86357.452026-09-28 20:00
2026-09-29352.87352.842026-09-29 20:00
2026-09-30354.55354.812026-09-30 20:00
2026-10-01354.60354.112026-10-01 20:00
2026-10-02370.48370.592026-10-02 20:00
2026-10-05378.53378.732026-10-05 20:00
2026-10-06380.33380.682026-10-06 20:00
2026-10-07377.65377.812026-10-07 20:00
2026-10-08374.64375.002026-10-08 20:00
2026-10-09382.68382.702026-10-09 20:00
2026-10-12377.87378.032026-10-12 20:00
2026-10-13375.78375.232026-10-13 20:00
2026-10-14366.65367.162026-10-14 20:00
2026-10-15362.70362.442026-10-15 20:00
2026-10-16354.41354.722026-10-16 20:00
2026-10-19368.02368.062026-10-19 20:00
2026-10-20373.65373.712026-10-20 20:00
2026-10-21386.28386.472026-10-21 20:00
2026-10-22376.50374.582026-10-22 20:00
2026-10-23372.40372.222026-10-23 20:00
2026-10-26391.19391.622026-10-26 20:00
2026-10-27406.70407.462026-10-27 20:00

Stock history: Gloria · Retrieved Oct 28, 00:50 UTC. Token history: CoinGecko TSLAx.

Quoted token and share units can have different rights, multipliers and dividend treatment. This is not an executable premium or arbitrage signal.

SpaceX is preparing to go public in what would be the largest initial public offering ever by cash raised. The company aims to bring in up to $86 billion, targeting a valuation between $1.75 trillion and $2 trillion.

To put that in perspective, Saudi Aramco’s 2019 IPO raised roughly $25.6 billion. SpaceX is aiming for more than triple that figure.

The IPO timeline and structure

SpaceX, officially Space Exploration Technologies Corp., confidentially filed with the SEC back in April 2026. The public prospectus dropped on May 20, setting the stage for an investor roadshow beginning June 8.

The target listing date is June 12, 2026, on the Nasdaq under the ticker SPCX. The offering will consist of Class A common stock.

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Goldman Sachs is among the lead underwriters. The fundraising goal sits above $75 billion, with estimates stretching to that $86 billion ceiling.

Elon Musk, SpaceX’s founder and CEO, is expected to retain significant voting control through Class B shares, meaning public shareholders get economic exposure without proportional governance power.

The Bitcoin angle crypto investors should watch

Buried in the prospectus details is a number that caught the crypto world’s attention: SpaceX holds approximately 18,712 BTC.

The company’s cost basis on that position sits around $661 million, with current valuations placing the holdings between $600 million and $850 million depending on market conditions.

SpaceX also has historical ties to Dogecoin, having accepted the memecoin as payment for the DOGE-1 satellite mission. The S-1 filing makes clear that no crypto tokens are part of the IPO itself.

The prospectus also references collaborations with Tesla, including the Terafab project. Tesla holds its own Bitcoin position and made its initial purchase in early 2021.

What this means for investors

Musk’s dual-class control structure means public investors have limited ability to influence capital allocation, including decisions about the Bitcoin treasury.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

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