SpaceX IPO may anchor a game-changing year for investment in the space economy
"A public listing would establish valuation benchmarks, operating margins, and capital intensity assumptions for the broader space ecosystem," says ARK Invest's Rahul Bhushan.
An IPO of SpaceX can be an anchor to what can be a key year for Earth's space economy, that's according to the European arm of Cathie Wood's ARK Invest.
In 2026, the public markets are beginning to recognise space as a defined investment category.
Rahul Bhushan, ARK Invest's global head of investment products, beleives a potential SpaceX IPO could be a turning point for capital markets.
“A potential IPO of SpaceX would serve as a natural anchor," he said in a note.
"Even without direct access, a public listing would establish valuation benchmarks, operating margins, and capital intensity assumptions for the broader space ecosystem.
"That process forces allocators to ask a simple question: where does space sit in a portfolio?”
Bhushan said the December 2025 White House executive order provides clear timelines and investment targets. The order commits to a return to the Moon by 2028, permanent infrastructure by 2030, and an additional fifty billion US dollars of private investment by 2028.
It also outlines a shift to commercial procurement and accelerated acquisition timelines.
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Recent defence activities in Venezuela have, meanwhile, highlighted the operational role of satellite-based systems which are increasingly delivered and operated privately.
Bhushan, in Tuesday's note, highlighted that military operations and missions now rely on space capabilities before any ground activity takes place, with satellite ISR and unmanned systems enabling mission planning and risk assessment. And, governments now group space alongside telecoms, energy, and defence.
