A $1.75 Trillion IPO Would Be Overpaying 30% for SpaceX
Summary
FutureSearch forecasts SpaceX's fair market value by breaking it into seven segments for June 2026. It concludes the sum-of-the-parts value is about $1.25 trillion, roughly 29% below the proposed $1.75 trillion IPO price, with most value concentrated in Starlink and xAI but with notable skepticism on xAI's current earnings. The piece discusses how a 75th-percentile scenario could reach the target and notes potential conglomerate premium factors and retail demand dynamics.