SpaceX has confidentially filed for an initial public offering on the US stock market, according to Bloomberg and the Wall Street Journal. The filing represents one of the most closely watched listings in market history, with the rocket company potentially seeking a valuation exceeding $1.75 trillion.
The confidential filing gives regulators time to review SpaceX's financial disclosures before the information becomes public. An IPO could occur as early as June, marking what is expected to be a major year for large-scale public offerings.
SpaceX, founded by Elon Musk, has become a dominant force in space travel and satellite communications. The company operates through several divisions, including its Starlink subsidiary, which has grown into one of the world's largest satellite operators. Starlink's satellite internet service generates over half of SpaceX's revenue and has become influential in geopolitical operations, with users ranging from NASA to foreign militaries.
The company holds extensive contracts with the US government for defense and space operations. NASA depends heavily on SpaceX rockets for the majority of its launches, making the space program substantially reliant on Musk's enterprise.
In February, SpaceX acquired Musk's artificial intelligence company xAI, which owns the social media platform X and produces the Grok chatbot. The acquisition valued xAI at $250 billion. SpaceX cited plans to build solar-powered datacenters in space to support AI infrastructure and meet growing computational demands. However, xAI has lagged behind competitors like Anthropic's Claude and OpenAI's ChatGPT in capability development.
SpaceX's strategic focus has recently shifted toward orbital datacenters and supporting NASA's upcoming moon landing missions. Mars colonization, long a prominent Musk objective, has become less emphasized in recent communications.
The $75 billion fundraising target would rank among the largest IPOs in American history. Two additional AI companies are expected to follow with major public offerings this year. OpenAI announced a $122 billion funding round and plans its own IPO, while fellow AI firm Anthropic is preparing a similar public debut. SpaceX's performance as the first of these three offerings could shape investor reception for subsequent listings.
Details of SpaceX's finances have remained closely guarded even from most investors. Share pricing and other listing specifics will become public following SEC review of the confidential filing. SpaceX is working with prominent international banks, including Barclays, to coordinate the IPO process.
For Musk, already the world's richest person, a successful offering would significantly expand his wealth and position him closer to becoming the world's first trillionaire.