Operational Excellence (OPEX) Daily Briefing – Thursday, December 11, 2025: SpaceX Targets a $1 Trillion IPO: A New Era for Space & Tech.
Điểm Tin Operational Excellence (OPEX) Mỗi Ngày – Thứ Năm, Ngày 11/12/2025: SpaceX Chuẩn Bị IPO “Nghìn Tỷ Đô”: Cuộc Chơi Mới Của Ngành Vũ Trụ – Công Nghệ
Welcome to my unique weekday article for the paid subscriber-only edition.
Operational Excellence (OPEX) Daily Briefing – issued on weekdays (Monday to Friday).
Điểm tin Operational Excellence (OPEX) hằng ngày (phát hành các ngày thứ Hai đến thứ Sáu).
This is the bilingual post in English and Vietnamese. Vietnamese is below.
Đây là bài viết song ngữ Anh-Việt. Tiếng Việt ở bên dưới.
English
PART 1 – OFFICIAL INFORMATION
On December 10, 2025, multiple reputable news outlets including Reuters, Bloomberg, The Guardian, and TechCrunch simultaneously reported that SpaceX is preparing for an extremely large IPO, expected to take place in 2026, with a goal of raising over USD 25–30 billion and targeting a potential valuation exceeding USD 1 trillion at the time of listing. This is considered a historic move, one that could become one of the largest IPOs ever, while opening a new era of competition across the entire space and technology industry.
According to sources from Reuters, SpaceX has begun discussions with major investment banks to prepare for the IPO process, although the plan remains in an early stage and no official statement has been made by the company. The discussions focus on the objective of bringing SpaceX to the public market in mid or late 2026, with a fundraising scale described as unprecedented in the technology, aerospace, and space sectors. Bloomberg noted that if the amount raised exceeds USD 30 billion, it would become a globally significant IPO, potentially redefining the value standards for companies operating in the commercial space industry.
The most important factor driving the potential trillion-dollar valuation is the explosive growth of Starlink, the low-Earth orbit (LEO) satellite internet system developed by SpaceX. According to TechCrunch, Starlink has surpassed millions of global users, rapidly expanding into the aviation, maritime, and defense markets, becoming the strategic growth engine of the entire company. Numerous analyst reports consider Starlink the core component enabling SpaceX to achieve a valuation between USD 1 trillion and USD 1.5 trillion, positioning it as the most valuable space-technology company ever to enter the public markets.
Alongside Starlink, SpaceX holds a dominant advantage through its Falcon 9, Falcon Heavy, and especially Starship — the super-heavy launch system expected to dramatically transform the cost structure of space exploration. According to The Guardian, Starship is a breakthrough technology, selected by NASA and various U.S. defense agencies for lunar missions, orbital infrastructure, and deep-space programs. SpaceX’s simultaneous development of launch platforms, satellite systems, telecommunications services, space logistics, and orbital infrastructure has created what analysts call “Vertical Space Integration” — a level of value-chain integration that no competitor has yet achieved.
However, Reuters emphasized that the IPO plan is not yet finalized. Factors such as market conditions, the interest-rate environment, Starlink’s ability to generate stable cash flow, and especially Elon Musk’s long-term strategy may influence the actual timing of the listing. This is the first time in years that credible sources have confirmed SpaceX is seriously considering an IPO, after multiple delays due to Musk’s insistence on waiting until Starlink reaches operational and financial stability.
This official information shows that if SpaceX successfully executes the IPO, the event would not only set a record-breaking valuation but also usher in a new cycle of the space economy, forcing satellite companies, defense contractors, telecommunications firms, and technology giants to realign their strategies to keep pace with the vertically integrated model led by SpaceX. This IPO has the potential to become a defining milestone that reshapes the future of the commercial space industry, much like how Tesla revolutionized the electric-vehicle sector.