EPA:ENX 4 January 2026

June 11, 2026, 8:11 PM EDT. SpaceX's upcoming IPO, expected at $135 per share, values the company around $1.7 trillion. Analysts suggest a more realistic price lies between $10 and $20 per share, reflecting a valuation of $130 billion to $260 billion. With $20 billion in revenue but $15 billion in annual losses spanning its satellite, launch, and AI divisions, SpaceX trades at an approximal 100x sales multiple-far higher than typical telecom or industrial firms, which trade at 1x to 3x sales. Investors are essentially betting on SpaceX outperforming traditional categories and achieving rapid growth and profitability. However, Starlink's satellite replacement costs and emerging AI infrastructure losses pose challenges. The debate centers on whether market hype can sustain such lofty multiples amid no clear profitability timeline.