SpaceX, the aerospace company founded by Elon Musk, has confidentially submitted initial public offering paperwork to the U.S. Securities and Exchange Commission, according to reports from Bloomberg and CNBC. The filing allows regulators to examine the company’s financial details privately before any public disclosure. The IPO is expected to launch in June, Bloomberg reports.
The company is targeting a valuation exceeding $1.75 trillion, which would follow a planned merger with Musk’s artificial intelligence venture xAI. SpaceX is seeking to raise as much as $75 billion through the offering, a figure that would make it the largest public offering in history. For comparison, Saudi Aramco‘s market debut in 2019 raised $29 billion, the current record holder.
Musk has not issued a public statement regarding the filing, though he has previously signaled openness to the idea. In February 2021, he posted on X that SpaceX’s internet service Starlink could go public once the company could predict its cash flow with reasonable confidence. More recently, when Ars Technica senior space editor Eric Berger suggested SpaceX was moving toward a public listing, Musk responded by saying Berger was, as usual, accurate.
According to an internal memo reviewed by Bloomberg, proceeds from the IPO would be directed toward several ambitious projects. These include funding what the company describes as an accelerated launch schedule for its developmental Starship rocket, building artificial intelligence data centers in space, and establishing a lunar base. The June timeline would position SpaceX ahead of other anticipated major listings, including those from OpenAI and Anthropic.
Starship sits at the center of Musk’s long-term vision for space exploration. SpaceX has stated the rocket system is designed for deep-space missions and is intended to eventually transport both cargo and crew to the Moon and Mars. However, the program has faced significant setbacks, including multiple rocket explosions, which have delayed the realization of those goals.
The confidential filing process is a standard regulatory mechanism that gives companies time to address any SEC concerns before their financial information becomes publicly available. If the June target holds, SpaceX’s market debut would represent a landmark moment for the private space industry and one of the most closely watched financial events in recent memory.
Originally reported by Decrypt.
