SpaceX Lowers IPO Valuation Target to at Least $1.8 Trillion

SpaceX is currently targeting a valuation of at least $1.8 trillion in its initial public offering, according to people familiar with the matter, as Elon Musk's company promising data centers in space nears its debut.

Bloomberg News reported in April that the company was aiming for a valuation above $2 trillion. The rocket, data and artificial intelligence firm's target is settling lower after consultations with advisers and investors, the people said, asking not to be identified as the information isn't public.

Details of an IPO such as size and valuation are typically adjusted ahead of pricing based on feedback ...