SpaceX, the aerospace giant founded by Elon Musk, could deliver one of the biggest investor gains in Wall Street history when it goes public next month. D1 Capital Partners, which invested in the company years before its expected initial public offering (IPO), might benefit the most from it. The private hedge fund now potentially holds a stake worth about $20 billion at the company’s targeted valuation.
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Early SpaceX Investors Positioned for Massive Gains
SpaceX’s valuation has surged over the past few years as the company expanded both its rocket launch services and its Starlink satellite internet business. The firm is now targeting a valuation of about $1.75 trillion while discussing plans to raise roughly $75 billion through its expected IPO.
As a result, early investors are now positioned for large profits. D1 Capital Partners, founded by Dan Sundheim, first invested in SpaceX in 2020 when the company was valued at roughly $36 billion.
That investment has since become one of the hedge fund’s most valuable holdings. If SpaceX reaches its expected IPO valuation, its stake could be worth about $20 billion.
At the same time, Darsana Capital Partners is also expected to benefit greatly from the listing. The fund, founded by Anand Desai, invested in SpaceX in 2019 when the company was valued at about $33 billion.
Its position was later expanded through additional funding rounds and investments connected to X and xAI, the AI firm behind Musk’s Grok chatbot. As a result, Darsana’s SpaceX holdings could reach around $15 billion if the rocket company achieves its targeted valuation after the IPO.
Starlink and AI Deals Push SpaceX Valuation Higher
SpaceX’s rapid valuation growth has been influenced by the success of its Starlink satellite business. This unit generated more than half of the company’s $18.7 billion in revenue last year.
At the same time, Musk has increasingly tied SpaceX to several AI-related businesses and infrastructure deals. Its valuation jumped from almost $400 billion less than a year ago to around $1.25 trillion after several transactions involving X and xAI.
Musk has also recently reached agreements with Anthropic, the AI firm behind Claude chatbot, to improve its AI services. The deal, which is linked to providing computing power services, could add roughly $5 billion in annual revenue.
Musk is now planning to build data centers in space to support growing demand for AI computing. He argued that orbital infrastructure could bypass some of the energy and land constraints slowing AI expansion on Earth.
Furthermore, the expected IPO is also becoming a major test for hedge funds that shifted their focus to private companies. This is because more startups have been delaying going public over the past few years.
Is SpaceX Going Public in 2026?
SpaceX is set to go public on June 12, according to a Wall Street Journal report. The company is targeting a massive valuation and a multibillion-dollar raise through the offering, which could make it one of the largest IPOs in history. For more information on SpaceX, ahead of its IPO, visit the TipRanks Private Company Center.
