SpaceX IPO aims for record $75 billion valuation, potential for Argentine investors eyed

SpaceX is set to launch its Initial Public Offering (IPO) on the New York Stock Exchange on June 12, with ambitions to raise $75 billion and reach a total valuation of $1.77 trillion. If successful, this offering could become the largest IPO in history, potentially surpassing the $25.6 billion record set by Saudi Aramco in 2019.

The aerospace giant plans to offer 555 million shares at $135 each, which would position it as one of the world's most valuable listed companies from its debut. However, IOL Inversiones Research has labeled the operation "as ambitious as it is risky." While SpaceX's business model, driven by Starlink's profitability, launch innovations, and AI development, is appealing, the firm faces challenges. A 15% revenue slowdown in early 2026 and an operating loss of $1.9 billion, largely due to xAI development costs, necessitate capital market financing.

Analysts suggest caution regarding the valuation, noting that much of the AI potential appears to be priced in. Nevertheless, a limited initial float of only 30% of the company's capital could potentially drive up the share price on its first day. Pablo Lazzati, CEO of Insider Finance, highlighted that the IPO aims to "finance SpaceX's next growth phase and accelerate the development of its aerospace projects." He also noted the immense scale of the funding, comparing it to nearly double the amount Argentina received from the IMF under Mauricio Macri.

For investors in Argentina, direct participation in the New York Stock Exchange will be initially limited, likely requiring investment accounts in the United States. However, there is a possibility of indirect investment, as Gustavo Neffa, director at Research for Traders and Fin.Guru, reported that ByMA is working on issuing a Cedear for SpaceX (SPCX), which would allow Argentine investors to trade shares through the local market.