SpaceX Said to Cut IPO Value Goal to at Least $1.8 Trillion (1)

SpaceX is currently targeting a valuation of at least $1.8 trillion in its initial public offering, according to people familiar with the matter, as Elon Musk’s rocket and artificial intelligence company nears its debut.

Bloomberg News reported in April that SpaceX was aiming for a valuation above $2 trillion. The target is settling lower after consultations with advisers and investors, the people said, asking not to be identified as the information isn’t public.

Details of an IPO such as size and valuation are typically adjusted ahead of pricing based on feedback from stakeholders, the people said. SpaceX is seeking ...