SpaceX filed for a confidential IPO in March at a valuation of $1.75 trillion
Elon Musk's rocket and satellite company SpaceX is preparing for a secretive initial public offering, setting the stage for what could be the largest IPO in history.
The Starbase, Texas-based firm is expected to file a draft registration with the US Securities and Exchange Commission in March, which could be filed in June. A confidential filing allows SpaceX to process regulatory feedback before publicly releasing financial details.
According to Bloomberg, SpaceX could go for a valuation of more than $1.75 trillion in an IPO. That's a dramatic increase from earlier private market discussions after the company bought Musk's AI startup xAI in February, below $1 trillion, then closer to $1.25 trillion. Market chatter later pushed expectations to $1.5 trillion, before the current forecast was closer to $1.75 trillion.
At that rate, SpaceX ranks among the top five most valuable public companies globally, trailing only names like Nvidia, Apple, Microsoft, Alphabet and Amazon, surpassing Meta and Tesla in market capitalization.
The offering could be up to $50 billion, surpassing Saudi Aramcon's $29 billion initial public offering in 2019. SpaceX has reportedly lined up Bank of America, Goldman Sachs, JPMorgan and Morgan Stanley for senior roles in the deal.
Revenues are expected to support aggressive expansion plans, including increasing the frequency of Starship launches, building artificial intelligence data centers in orbit, and advancing lunar base ambitions.
The company's dominance in orbit with the Falcon 9 and Starlink satellite network, which serves millions of customers worldwide, has fueled investor appetite. EchoStar, which owns a stake in SpaceX following early spectrum transactions, saw its shares jump as much as 10% on the news.
