Analysis-How the Math Works on a $1.75 Trillion SpaceX Valuation

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Elon Musk's SpaceX is seeking a $1.75 trillion valuation in its initial public offering, which would make it the sixth most-valuable publicly listed US firm. The valuation is grounded in its profitable Starlink satellite network and launch business, with analysts pricing in potential future growth from unproven bets like Starship and xAI.
SpaceX is seeking a $1.75 trillion valuation in its IPO. The company's Starlink satellite network has over 10 million subscribers and its launch business has transformed access to orbit. SpaceX's valuation is based on its profitable businesses and potential future growth. The company has a commanding lead in deploying low-Earth orbit satellites. SpaceX launches a rocket nearly every two days, giving it key capacity in a market where launch access has become a bottleneck. The IPO could raise $75 billion or more, a record amount.
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