Musk also indicated SpaceX will rely less on NASA for revenue next year, emphasizing commercial Starlink as the largest contributor and denying subsidy claims.

SpaceX remains dominant in broadband via Starlink and a leading US government launch provider, but there is no official IPO or public listing plan announced, keeping 2026 funding and valuation uncertainties.

Industry observers note a push to expand messaging-based IoT, automotive, and consumer services, with redundancy overlays to ensure continuous connectivity.

Starship Version 3 must hit milestones—full reusability, in-orbit refueling, and an uncrewed Moon landing—to bolster NASA lunar program prospects and investor confidence.

Insider share activity could lift valuations toward the $800 billion mark if progress continues on Starship, Starlink, and direct-to-cell spectrum initiatives.

Growth steps include: 1) advancing Starship to cut launch costs; 2) expanding Starlink direct-to-consumer to roughly 10 million users by end-2026; 3) extending Direct-to-Cell connectivity and Starlink Mobile, with pricing and adoption considerations.

Musk has said Starlink is SpaceX’s main revenue driver, with NASA contracts expected to contribute less than 5% of next year’s revenue, countering subsidy narratives.

Industry trials and satellite conferences highlight ongoing challenges in maintaining reliable connectivity for users moving between terrestrial and satellite networks and mitigating signal loss during mobility.

SpaceX faces a major 2026 hurdle with NASA’s Artemis Human Landing System contract, now under scrutiny due to delays and competition from Blue Origin, affecting its lunar lander timeline.

SpaceX’s 2026 roadmap includes launching the next-generation Starship, initiating its first uncrewed Mars mission, and proving in-orbit refueling and other key capabilities.

Musk publicly pushed back on reports of an $800 billion valuation, explaining SpaceX has been cash-flow positive and uses stock buybacks to provide liquidity.

He reiterated that there has been no confirmed plan for an IPO in 2026 and that valuation rumors should be treated with caution.

Media speculation about an $800 billion valuation originated from a Wall Street Journal piece; no new official valuation or IPO plan was announced.