Why Destiny Tech100 stock is surging: SpaceX IPO buzz fuels rally

Shares of Destiny Tech100 Inc. climbed 15% on Wednesday, as investor enthusiasm surged following reports that SpaceX could file for an initial public offering (IPO) as soon as this week.

The rally reflects growing interest in companies with exposure to SpaceX, widely regarded as a bellwether in the commercial space industry, as anticipation builds around what could be one of the largest IPOs in history.

SpaceX IPO report drives momentum.

According to a report from The Information, SpaceX plans to file its IPO prospectus with regulators later this week or next.

Advisers involved in the process expect the company to raise more than $75 billion, positioning the offering among the largest ever. 

The report also noted that the allocation for individual investors could exceed 20%, although the final structure has yet to be determined.

The potential listing comes amid rising investor appetite for space-related assets, driven by declining launch costs, expanding satellite networks, and growing interest in space-based infrastructure.

Fund gains tied to SpaceX exposure

Destiny Tech100’s sharp move higher is closely linked to its exposure to SpaceX. 

As of December 2025, the fund had approximately 16.2% of its portfolio invested in the company, making it its largest holding.

This significant allocation has positioned the fund as a proxy for investors seeking exposure to SpaceX ahead of a potential public listing.

As reports of the IPO gained traction, investors moved into vehicles like Destiny Tech100 that offer indirect access to the private space giant.

The broader space sector also saw gains, with companies such as Rocket Lab, Planet Labs, and AST SpaceMobile rising by more than 10% in the trading session.

A SpaceX listing could also attract retail investors familiar with Tesla, potentially unlocking a new wave of capital into space and aerospace-related companies.

The fund also has exposure to companies such as OpenAI (2.1%), xAI (3.5%), Revolut (2.9%), and Kraken (1.5%). 

SpaceX’s scale and long-term ambitions

Founded in 2002, SpaceX has grown into the largest private space company in the United States and conducts more launches annually than any other firm globally.

Its reusable Falcon 9 rockets and Starship program have significantly lowered launch costs, while its Starlink satellite network has emerged as a dominant player in space-based broadband.

The company’s IPO ambitions are also tied to its longer-term vision of building orbital infrastructure, including data centers in space—a concept gaining traction as demand for artificial intelligence computing rises.

Recent developments further highlight its scale. 

SpaceX recently acquired Elon Musk’s xAI in a transaction that valued SpaceX at $1 trillion and xAI at $250 billion.

As anticipation builds around the potential IPO, Destiny Tech100’s rally underscores how closely investor sentiment is tied to access to high-profile private companies, particularly those at the forefront of emerging industries like space and AI infrastructure.