, Columnist
SpaceX Is Widening Its Competitive Moat Ahead of a Record IPO
SpaceX’s Starship will be fully reusable.
Photographer: Brandon Bell/Getty Images
Elon Musk’s SpaceX is no stranger to the stratosphere, and neither is its coming initial public offering.
Investor interest in the IPO, expected this summer, has been climbing toward a record $2 trillion valuation as more details emerge about revenue opportunities such as direct-to-cell service and data centers in space. The offering seems like a bet on science fiction to generate enough sales from space to support such a sky-high price tag. After all, this is a company that first launched a rocket into orbit less than 20 years ago.