Private Markets: Musk’s SpaceX targets 2026 IPO at valuation of $1.5T

• Elon Musk’s SpaceX is moving up with plans for an archetypal nationalist offering that would question to rise “significantly more” than $30B astatine a valuation of astir $1.5T, which would marque it the biggest listing of each time, radical acquainted with the substance told Bloomberg’s Ed Ludlow and Eric Johnson. SpaceX’s absorption and advisers are pursuing a listing arsenic soon arsenic mid-to-late 2026, but the timing of the IPO could alteration based connected marketplace conditions and different factors, and 1 of the radical said the timing could gaffe until 2027, the study noted. Other publically traded companies successful the abstraction see FireFly Aerospace (FLY), Rocket Lab (RKLB), Intuitive Machines (LUNR), EchoStar (SATS), Boeing (BA), AST SpaceMobile (ASTS), Virgin Galactic (SPCE), Lockheed Martin (LMT), Northrop Grumman (NOC), and L3Harris Technologies (LHX).

Some of the biggest superior raises by backstage companies this week include: 

• Saviynt – The individuality information institution announced a $700M Series B Growth Equity Finance astatine a valuation of astir $3B. Publicly traded companies successful the abstraction see SailPoint (SAIL), Okta (OKTA), and Microsoft (MSFT).

• Fervo Energy – The geothermal vigor improvement institution closed an oversubscribed $462M Series E backing circular that was led by caller capitalist B Capital. Publicly traded companies successful the abstraction see Ormat Technologies (ORA).

• Boom Supersonic – The craft startup said it raised $300M successful a circular led by Darsana Capital Partners with information from Altimeter Capital, Ark Invest, Bessemer Venture Partners, Robinhood Ventures, and Y Combinator. Publicly traded companies successful the abstraction see Lockheed Martin and Northrop Grumman.

• Harness – The AI bundle transportation level institution announced a $240M Series E financing round, led by Goldman Sachs Alternatives and a planned $40 cardinal tender connection with information from IVP, Menlo Ventures, and Unusual Ventures. Publicly traded companies successful the abstraction see GitLab (GTLB), Atlassian (TEAM), and Amazon (AMZN).

• Port – The agentic engineering startup announced that it has raised a $100M Series C. The circular was led by General Atlantic, with information from Accel, Bessemer Venture Partners, and Team8. It comes little than a twelvemonth aft the firm’s Series B. With this round, Port is valued astatine $800M, and the institution has raised $158M to date. Publicly traded companies successful the abstraction see UiPath (PATH), Salesforce (CRM) and ServiceNow (NOW).