Bloomberg is reporting that SpaceX is eyeing a $1.5 trillion valuation for a listing next year. Revenue is projected between $22 billion and $24 billion in 2026, which would put the price-to-sales ratio around 62x. For context, Palantir currently trades near 70x. The main growth story is Starlink, specifically the move into direct-to-cell service with partners like T-Mobile. Musk is also pushing a vision for orbital AI data centers and eventual Mars colonization. Analysts are split on the valuation. Some think it's a sign of a frothy market, while others argue the "Elon premium" and lack of competition in space launch will support the price.