Elon Musk’s aerospace firm SpaceX has confidentially filed for an initial public offering, according to sources familiar with the matter. The IPO could occur as early as June and may value the company at over $1.75 trillion, surpassing the market caps of Meta, Tesla, and Bitcoin. The listing could raise up to $75 billion, more than double Saudi Aramco’s record debut. Prospective investors are expected to receive briefings from company executives later this month.
SpaceX has reportedly filed confidentially for an initial public offering, moving closer to what could be the largest U.S. public listing ever. The company submitted its filing to the U.S. Securities and Exchange Commission, according to a recent report citing people familiar with the matter.
The IPO could be finalized as early as June. Sources have indicated SpaceX could seek a valuation exceeding $1.75 trillion, which would make it more valuable than several major assets.
The company may raise up to $75 billion from the offering. This would more than double the record set by Saudi Aramco’s $29 billion debut in 2019.
SpaceX’s potential IPO follows its acquisition of Musk’s AI startup xAI in early February. This puts the company in direct competition with AI firms like OpenAI and Anthropic.
OpenAI recently closed a funding round with $122 billion in committed capital. This bumped its valuation to $852 billion.
Prospective IPO investors have reportedly been told to expect briefings from SpaceX executives later this month. The company is weighing a dual-class share structure to give insiders greater voting control.
The IPO is expected to allocate up to 30% of shares for individual investors. Major Wall Street firms like Bank of America and Goldman Sachs are expected to be involved.
SpaceX continues to hold 8,285 Bitcoin, worth over $565 million, on its balance sheet. The company moved its Bitcoin to a new wallet address in October, prompting speculation about its long-term holding intentions.
Trading platforms have sought to offer tokenized shares in high-profile private companies. Investors have had limited access to these private tech firms, but that blockchain tokenization could help broaden participation, stated Robinhood CEO Vladimir Tenev in February 2025.
OpenAI is expected to file for an IPO in 2026. Anthropic is also exploring a public listing as soon as October.
