Elon Musk's SpaceX cuts its IPO target to $1.8 trillion after a $4.28 billion Q1 loss
Billionaires Africa | 01.06.2026 10:34
SpaceX has pulled back its IPO valuation target to at least $1.8 trillion, down from an earlier goal of above $2 trillion, after the company posted a $4.28 billion net loss in the first quarter of 2026. The loss was driven primarily by AI infrastructure costs following SpaceX's February merger with xAI, Elon Musk's artificial intelligence company, according to the company's S-1 filing.
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