$30 Billion SpaceX IPO Headlines Could Impact These Holdings

Over the last few days, there have been multiple headlines about Elon Musk’s SpaceX targeting a potential IPO in 2026.

According to those reports, the company is aiming to raise more than $30 billion at a valuation of $1.5 trillion and is starting to hear pitches from potential investment banking partners. Because SpaceX is a private company, there are only some figures floating about, and one of them from June was a post by Musk that SpaceX would do about $15.5 billion in revenue this year.

The timing for that IPO could be as soon as the middle of next year, and if that turns out to be the case, it would join a lineup of highly anticipated deals that include IPOs from Anthropic, OpenAI, Databricks and Stripe that would likely translate into some big fees for investment banks like our own Morgan Stanley (MS) and Bank of America (BAC) . It would also extend the IPO market, which would allow SuRo Capital (SSSS) to monetize other holdings, a move that would help sustain its dividend stream to shareholders like us.

Now to see how the SpaceX bake-off goes, and which companies land on the much coveted left-hand side of the S-1’s cover page.

In the meantime, we are watching the post IPO performance from Wealthfront (WLTH) and soon-to-be-priced offerings from Andersen Group (ANDG) and Medline (MDLN). As we gauge the market’s response to those offerings and what it means for the IPO window entering 2026, we’ll adjust our MS and BAC shares as needed. And yes, we are aware that BAC shares are inching ever closer to becoming a 4.5% position size for the Portfolio.

SpaceX and Google? What About Stripe?

Since 2015, Google (GOOGL) has been invested in SpaceX with an estimated ownership stake of around 7%. That means that if SpaceX were to go public even close to the touted valuation of $1.5 billion, Google’s stake would be worth around $100 billion. That’s another reason for us to follow the potential SpaceX IPO carefully.

Although Alphabet doesn’t identify its private portfolio companies in earnings reports, we can get a bead on things by following its “unrealized gains on non-marketable equity securities.” Per Google’s latest 10-Q, the carrying value of its non-marketable equity securities was $61.1 billion at the end of September.

And while SpaceX is grabbing headlines, we’d point out that Google is also an investor in Stripe, as is American Express (AXP) . Both are invested in Stripe through their respective venture capital arms, however, their ownership stakes have yet to be shared. As the Stripe IPO comes to market, we should get those details. As we do, we’ll factor them into our thinking and price targets, but we suspect that both would look to monetize those positions over time.

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At the time of publication, TheStreet Pro Portfolio was long MS, BAC, SSSS, GOOGL and AXP.