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Demand for SpaceX stock far exceeded available supply. Investor interest reportedly exceeded $250 billion, significantly higher than the $75 billion SpaceX initially expected to raise.<\/p>\n
Anthropic<\/a> and OpenAI<\/a> are also moving closer to IPOs. Let’s assess SpaceX’s IPO to understand what may happen when the next wave of megacap private technology companies reaches public markets.<\/p>\n SpaceX IPO backed by solid business <\/p>\n SpaceX entered the market with real scale, with revenue rising from $10.4 billion in 2023 to $14 billion in 2024 and $18.7 billion in 2025.<\/p>\n SpaceX’s rocket launch business continues to gain traction. Since its founding, the company has completed 650 rocket launches and carried about 7,400 metric tons of satellites, spacecraft, and other customer equipment into space by the end of Q1 2026. SpaceX completed 170 of those launches in 2025, carrying 2,213 metric tons into space.<\/p>\n Beyond launches, Starlink satellite internet has become SpaceX’s main recurring revenue business. Starlink had 10.3 million subscribers at the end of the first quarter. SpaceX’s connectivity segment, which includes Starlink, also generated $11.4 billion in revenue and $4.4 billion in operating income in 2025. That profit gives SpaceX more financial flexibility to invest in opportunities such as the Starship reusable rocket system, satellite-to-mobile services, and AI infrastructure.<\/p>\n The xAI deal and the $60 billion all-stock deal to buy Anysphere, the company behind AI coding agent Cursor, have pushed SpaceX deeper into AI software and enterprise AI tools.<\/p>\n However, SpaceX remains a loss-making, capital-intensive business. The company also seems to be facing margin pressure to support top-line growth. Hence, investors are currently paying a high price for years of near-perfect future execution.<\/p>\n Anthropic and OpenAI may face an even harder test <\/p>\n Anthropic and OpenAI have both confidentially filed for U.S. IPOs. Anthropic recently raised capital at a reported $965 billion valuation, while OpenAI could reportedly seek a valuation of up to $1 trillion.<\/p>\n Both companies could come public with strong brands, rapid revenue growth, and major enterprise customers. However, they will need to prove their ability to manage compute costs, maintain pricing power, hold on to enterprise customers, navigate legal risks, and turn heavy AI usage into durable profits.<\/p>\n As SpaceX showed, Anthropic and OpenAI could open for public trading well above their IPO prices if demand is strong. But that also creates a risk for ordinary investors. By the time these companies list, private investors may already have captured much of the earliest upside.<\/p>\n Retail investors should therefore look beyond the IPO excitement and focus on revenue durability, margin improvement, and valuation before buying these stocks.<\/p>\n Should you buy stock in Space Exploration Technologies right now? <\/p>\n Before you buy stock in\u00a0Space Exploration Technologies, consider this:<\/p>\n The Motley Fool\u00a0Stock Advisor\u00a0analyst team just identified what they believe are the\u00a010 best stocks<\/a>\u00a0for investors to buy now\u2026 and\u00a0Space Exploration Technologies\u00a0wasn\u2019t one of them.\u00a0The 10 stocks that made the cut are built for long-term growth and could produce monster returns in the coming years.<\/p>\n Consider when\u00a0Netflix\u00a0made this list on December 17, 2004… if you invested $1,000 at the time of our recommendation,\u00a0you\u2019d have $417,305!*\u00a0Or\u00a0when\u00a0Nvidia\u00a0made this list on April 15, 2005… if you invested $1,000 at the time of our recommendation,\u00a0you\u2019d have $1,293,148!*<\/p>\n That performance is why people listen. With a track record of\u00a0beating the S&P 500 by 4x,\u00a0Stock Advisor\u00a0offers a distinct advantage. Don’t miss the latest top 10 list, available with\u00a0Stock Advisor, and join an investing community built for the long haul.<\/p>\n See the 10 stocks \u00bb<\/a><\/p>\n *Stock Advisor returns as of June 21, 2026. <\/p>\n Manali Pradhan, CFA<\/a> has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy<\/a>.<\/p>\n