A SpaceX Falcon Heavy rocket launch in Florida in 2023 (Aubrey Gemignani/Getty Images)

SpaceX isn’t just expensive — it’s in a different orbit

At a $1.75 trillion valuation, SpaceX would be valued at roughly 100x its 2025 revenue.

3/26/26 8:43AM

When Elon Musk’s SpaceX files to go public, which reportedly might happen as soon as this week, the company could raise a record $75 billion at a potential valuation of more than $1.75 trillion. At that level, it would trade at about 110x its 2025 revenue — higher than any comparable public company, according to PitchBook.

“The jump to $1.75 trillion is a clear signal that SpaceX and its bankers believe the demand is there to extract a premium by being the first of the big private companies to file,” Franco Granda, a senior research analyst at PitchBook, wrote in a new note. “By filing now, SpaceX defines the narrative and absorbs the lion’s share of institutional allocation budgets before anyone else can.”

We won’t know SpaceX’s actual valuation until just before it hits public markets, but as it stands, that multiple is notably higher than even Palantir’s. Palantir went public in 2020 at roughly a $20 billion valuation, about 20x its revenue at the time, and since then, its multiple has skyrocketed to about 70x its 2025 revenue.

If SpaceX confidentially files its IPO paperwork in the next couple of weeks, the Securities and Exchange Commission will likely review it from early April through May, suggesting a mid-May public filing, per PitchBook.

That would put the investor road show in late May, with pricing and an IPO in June.

Jon Keegan6h

OpenAI employees are cashing out their shares, dozens making $30 million each

OpenAI’s planned IPO later this year is expected to be one of the largest of all time. Employees who got equity early on are sure to reap a windfall when the company shares hit the public markets.

Often these pre-IPO shares can’t be cashed in until the company goes public, and many startups have longer lockup periods before employees can sell their shares.

But The Wall Street Journal reports that OpenAI has a relatively short two-year vesting period, and the company allowed employees to sell shares before the IPO via a tender offer, as long as they’ve reached the two-year mark.

According to the report, in October, more than 600 current and former OpenAI employees sold shares through this process, minting a cluster of new multimillionaires. The Journal said about 75 of those walked away with $30 million (the maximum sale amount for this offer).

How a Job at OpenAI Became the Greatest Lottery Ticket of the AI Boom

Rani Molla

Apple’s pie

How much Apple’s biggest contribution to the AI boom matters for its sales

Hint: it’s not Siri and it’s not much.

Rani Molla5/8/26

Intel pops on reported Apple chip deal

Intel soared more than 14% on a Wall Street Journal report saying the company has reached a preliminary agreement with Apple to manufacture chips for the iPhone maker. Intel, already on a tear as of late, jumped earlier this week when Bloomberg first reported the two companies were in talks. It’s still unclear which chips Intel would manufacture for Apple, which has been facing supply constraints for its iPhone as well other products.

In any case, the deal could help Apple ease supply constraints that have hit some of its products and reduce its reliance on longtime partner TSMC, as it aims to bring more chip manufacturing stateside.