A bid by individual investors to grab a sliver of SpaceX before it goes public has propelled a niche ETF into the spotlight, highlighting retail euphoria over Elon Musk’s business empire and the scramble for private-company exposure.

Elon Musk's SpaceX is eyeing an initial public offering that could be the largest ever, at least partially driven by a plan to launch AI data centers into orbit.

SpaceX’s $800 billion valuation against an estimated $15 billion in revenue for 2025 implies a 53x Price-to-Sales (P/S) multiple—extremely elevated and rare outside of hyper-growth tech. What investors are ultimately paying for is not just a single business line, but a uniquely integrated platform.

SpaceX has authorized an insider share sale that values Elon Musk's rocket and satellite maker at about $800 billion, according to a company message seen by Bloomberg on Dec. 12.

Transportation Secretary Sean Duffy, who has been serving as the interim NASA administrator, congratulated Isaacman, Reuters reported he wrote on X, wishing the new administrator, "success as he begins his tenure and leads NASA as we go back to the Moon in 2028 and beat China."

NASA plans to test SpaceX’s Starshield satellite network, designed primarily for national security users, to support operations of the Deep Space Network.

SpaceX has told its employees the company is entering a regulatory quiet period, people familiar with the matter said, taking the rocket and satellite maker a step closer to an initial public offering slated for 2026.

Elon Musk outlines why SpaceX’s Starship represents a historic shift in spaceflight, driven by full reusability and long-term economic impact.