SpaceX’s blockbuster IPO is coming. This overlooked industrial company will be a big winner
SpaceX is preparing for a historic $75 billion IPO, targeting a $1.75 trillion valuation, which could significantly boost demand for gases supplied by Linde, a key aerospace partner with a $100 million Texas plant near SpaceX. Linde’s commercial aerospace business may double to over $1 billion as SpaceX ramps up launch schedules, including plans for Starship to launch over 24 times in a single day within seven years.
SpaceX has confidentially filed paperwork for the largest initial public offering (IPO) in history, seeking up to $75 billion at a valuation of around $1.75 trillion, according to Reuters. The rocket manufacturer, led by Elon Musk, aims for a late June listing, positioning itself to accelerate ambitions like expanding Starlink satellite internet and developing orbital data centers. Musk has predicted Starship, SpaceX’s reusable rocket, could launch more than 24 times in a single day within six to seven years, targeting missions to the Moon and Mars. Linde, a U.K.-based industrial gases giant, stands to benefit from SpaceX’s growth, supplying critical gases for rocket propulsion, satellite launches, and spacecraft testing. The company has supplied NASA since the Apollo program and is now a key partner in the Artemis II moon mission. Linde is building a $100 million facility in Texas near SpaceX’s headquarters to streamline deliveries, as the commercial space race intensifies beyond government-led projects. Deutsche Bank analyst David Begleiter compared Linde to ‘Exxon for space,’ estimating SpaceX’s IPO could double the company’s aerospace business to over $1 billion in the near future. Begleiter cited SpaceX’s aggressive launch schedule, including 11 Starlink test flights since 2023 and over 50 Falcon 9 missions in 2026 alone, as drivers for increased demand. The most recent Falcon 9 launch on May 5 deployed 24 Starlink satellites, with another mission planned for Monday. Linde’s gases, including carbon dioxide, oxygen, and nitrogen, are essential across industries—from AI chip manufacturing to medical respiratory support—but its aerospace sector is poised for rapid expansion. The company’s consistent growth and pricing power could see further gains as SpaceX scales operations, with Jeff Marks of The Investing Club noting rocket launches are becoming more frequent due to satellite networks and reusable rockets. SpaceX has not confirmed its IPO plans, and the company did not respond to requests for comment from CNBC. However, Musk’s vision of frequent Starship launches aligns with Linde’s strategic positioning to meet rising aerospace demand, potentially reshaping its financial outlook amid SpaceX’s Wall Street debut.
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