SpaceX, Elon Musk's rocket and satellite connectivity giant, is approaching one of the largest initial public offerings in history — seeking to raise approximately US$75 billion at a valuation of roughly US$1.75 trillion — and the mega-listing is expected to inject fresh momentum into the global satellite industry as the company expands aggressively into space-based AI computing and solar power.

Why It Matters

According to a report released on Monday, 8 June 2026 by TrendForce, a Taiwan-based market research firm, the global satellite industry is forecast to grow at an annual rate of about 14 per cent, reaching US$447 billion by 2027 as satellite networks, AI infrastructure, and space applications become more tightly integrated. The anticipated SpaceX listing is seen as a key catalyst for this trajectory.

The company is moving well beyond its established satellite broadband business, extending into direct-to-cell services, space-based solar power, and a dedicated AI computing layer in orbit — a strategic pivot that analysts say redefines what a satellite operator can be.

Terafab and the Shift to Space Computing

TrendForce highlighted SpaceX's development of its own AI space computing chip facility, named Terafab, as a defining move. 'By developing its own AI space computing chip facility, Terafab, SpaceX is enhancing its vertical integration and shifting the low-earth-orbit satellite industry from a purely communication service to a new era of computing services,' the research firm said.

This vertical integration extends across a sprawling supply chain that includes satellite antenna modules, RF front-end modules, printed circuit boards, beamforming ICs, solar cells, compound semiconductor materials such as gallium arsenide and gallium nitride, high-temperature alloys, titanium alloys, precision cast components, and industrial gases.

Samsung and TSMC Enter the Picture

Samsung Electronics and Taiwan Semiconductor Manufacturing Company (TSMC) are reportedly involved in early-stage, small-volume production of chips for space-based AI computing, according to TrendForce. Their participation signals that the world's two most powerful contract chip ecosystems are beginning to orient capacity toward orbital computing applications.

The involvement of these semiconductor giants underscores the scale of capital and technical complexity that SpaceX's ambitions require — and the degree to which the IPO could unlock further investment across the supply chain.

Competitive Backdrop

China's state-backed satellite constellations — including Qianfan and Guowang — are racing to build low-earth-orbit infrastructure of their own, intensifying the geopolitical dimension of the space connectivity race. SpaceX's Starlink network already operates thousands of satellites in orbit, giving it a substantial head start in both coverage and data throughput.

The IPO, if completed at the targeted valuation, would cement SpaceX as one of the most valuable companies ever to go public, with implications for defence contractors, satellite component suppliers, and sovereign space programmes worldwide.

What's Next

The listing, expected to be finalised this week, will be closely watched as a benchmark for investor appetite for long-duration, capital-intensive space infrastructure bets. The trajectory of Terafab's development and the pace of TSMC and Samsung's chip production ramp for orbital applications will be the metrics to watch in the quarters ahead.