3 Stocks That Could Benefit From the SpaceX IPO

SpaceX is set to be the largest initial public offering (IPO) in history this summer. The company aims to raise $75 billion in capital at a valuation of $1.75 trillion. That's a lot of cash that could soon hit the company's balance sheet, giving it the opportunity to ramp up significant capital expenditures, benefiting multiple companies. Meanwhile, the IPO excitement has spread to other aerospace stocks, bolstering the entire sector.

Several companies could come out as winners thanks to SpaceX's IPO. Here are three that investors should keep an eye on this summer.

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1. Alphabet

Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) invested $900 million in SpaceX at the start of 2015. While it has been diluted by share-based compensation and SpaceX's merger with xAI, Alphabet still holds a substantial stake in the business. As of the end of 2025 (before the xAI merger), it held 6.11% of the company's shares. It likely holds around 5% of the merged company today.

At a $1.75 trillion IPO valuation, Alphabet's stake in the business would be worth about $87.5 billion. Alphabet will likely be subject to a lockup period post-IPO, requiring it to hold its position for a few more months, but it could liquidate some of it.

Alphabet is also benefiting from the SpaceX IPO thanks to the increased hype around aerospace stocks. It holds substantial stakes in satellite builder Planet Labs and satellite-based telecom company AST SpaceMobile. The former is a partner in Alphabet's ambition to develop orbital data centers, a business opportunity SpaceX is also eyeing.

For Alphabet, the SpaceX opportunity is purely based on the stock's value. It's unlikely to be able to liquidate a $100 billion position in one fell swoop. Nonetheless, the ability to sell shares and plow cash into high-return-on-invested-capital opportunities (like AI data centers) is a positive development. With Alphabet shares trading for just 27 times forward earnings estimates, the stock looks attractive.

2. Intel

Intel (NASDAQ: INTC) is an essential partner for the forthcoming Terafab, a joint venture between Elon Musk's SpaceX and Tesla. The Terafab project is meant to increase chip supply capacity as SpaceX's and Tesla's demand for chips climbs faster than their manufacturing partners are willing to expand production capacity. The $75 billion in capital raised from the SpaceX IPO could be a major source of financing for the project, which could cost a total of $119 billion over several years, according to filings made in Texas.

Terafab will use Intel's 14A fabrication process, giving Intel a major customer for its next-generation process. That's a huge win for Intel, which was considering shutting down its foundry business about a year ago if it couldn't find a major customer. SpaceX and Tesla bring in huge amounts of capital, and Intel gets a guaranteed customer. It could help Intel scale its foundry business and diversify its customer base over the long run.

Intel's stock has rocketed higher since Musk announced the chipmaker's involvement with Terafab. Intel has also seen more momentum in attracting customers to its foundry business, but that may be secondary sourcing more than a bet on Intel's technology. After the run-up in share price, the stock trades for 111 times forward earnings expectations. While earnings could ramp up quickly with major foundry customers like SpaceX and Tesla, that's still a huge premium to pay for the chipmaker. Investors may want to wait for a better entry point.

3. Linde

Linde (NASDAQ: LIN) is the leading industrial gas provider for rocket launches in the United States, supplying 65% to 75% of all launches. The company has a close relationship with SpaceX, opening a $100 million facility in Texas earlier this year to supply the company's Starbase operation.

SpaceX is currently testing its third version of the massive Starship, a fully reusable space vehicle. That means shorter turnaround times between launches compared to the current fleet of Falcon 9 rockets it's using. It's also significantly larger, capable of carrying more freight. More frequent launches and larger rockets mean greater fuel demand, and Linde is going to supply it. If SpaceX effectively deploys capital to scale its Starship fleet, Linde could be a big beneficiary.

Investors should note that Linde is a massive gas provider, and aerospace remains a small part of the business. That said, management called out strong double-digit-percentage growth in gases for the industry during its most recent quarter, which helped its manufacturing end market (one of its largest) grow 5% overall. With the tailwind of more SpaceX launches (and possibly increased competition for launches), Linde is set to steadily grow revenue and expand margins as demand increases. At 28 times forward earnings, however, the stock seems a bit expensive. Investors may get a better entry point as excitement around space stocks dies down after the SpaceX IPO.

Adam Levy has positions in Alphabet. The Motley Fool has positions in and recommends AST SpaceMobile, Alphabet, Intel, Planet Labs PBC, and Tesla. The Motley Fool recommends Linde. The Motley Fool has a disclosure policy.