Both Reuters and Bloomberg cited confidential sources familiar with the matter in reporting the filing, with SpaceX possibly seeking a total of $1.75trn.
SpaceX has privately filed for an initial public offering (IPO) in the US ahead of what could be the largest stock market listing ever, according to media reports yesterday (April 1).
Both Reuters and Bloomberg cited confidential sources familiar with the matter in reporting the filing, with SpaceX possibly seeking a total of $1.75trn.
Estimates of how much the listing could raise range from about $50bn to about $75bn, which is on track to surpass the $29bn 2019 listing of Saudi Aramco, the current record holder for the largest IPO.
A private filing would enable the Elon Musk-owned company to privately submit IPO documents to regulators, then act on the response as needed away from the public eye.
Bloomberg said SpaceX’s submission of a draft IPO registration to the US Securities and Exchange Commission puts the company on track for a June listing, and a source told Reuters that between late April and early May, the company will be offering a variety of personal tours and research sessions with financial analysts.
Bloomberg sources identified Bank of America, Citigroup, Goldman Sachs, JPMorganChase and Morgan Stanley as the top planned participants in the IPO, with the UK’s Barclays, Germany’s Deutsche Bank and Switzerland’s UBS said to be working on related European orders.
Reuters recently reported that Musk will offer up to 30pc of shares in SpaceX’s IPO to retail investors, a move that will help him shape who owns the company and how its shares trade.
Musk has consolidated various businesses over the past year to reach an estimated $1.75trn valuation. In February, SpaceX acquired xAI, which in March 2025 acquired X.
The growth in revenue from SpaceX’s Starlink satellite broadband service is widely recognized and particularly as a basis for valuation. Starlink currently dominates the global satellite internet industry, with more than 9,000 satellites in orbit and nearly 9m customers.
In a blog post about the xAI merger on the SpaceX website in February, Musk said the deal would allow data centers to be moved into space to use permanent solar energy from the sun.
According to the tech-billionaire, SpaceX’s Starship rockets will begin delivering next-generation satellites into orbit this year, and each launch is expected to add more than 20 times the capacity of the current launch to the satellite constellation. Starship also plans to launch the next generation of mobile-oriented satellites this year.
“My estimate is that within two to three years, the cheapest way to produce AI compute will be in space,” he said, adding that cost-effectiveness will allow companies to train their AI models and process data at “unprecedented” speeds and scales.
The February merger deal valued xAI at about $250bn, but preceded the departure of all 11 of Musk’s co-founders from the company.
A massive SpaceX IPO will precede the anticipated listing of competing AI giants OpenAI and Anthropic in the near future.
Don’t miss out on the information you need to succeed. Sign up for Daily BriefSilicon Republic’s digest of must-know sci-tech news.
Starship Mission, March 2023. Image: Official SpaceX Images via Flickr (CC BY-NC 2.0)
