SpaceX has confidentially filed for an initial public offering, moving Elon Musk’s rocket and satellite company closer to what could become the largest listing in history, according to a Bloomberg report.
The filing is the clearest step yet in an IPO process that had already been signaled through earlier reports on timing, bank mandates, and fundraising targets.
Bloomberg reported in late February that SpaceX was weighing a confidential filing as soon as March and could seek a valuation of more than $1.75 trillion. It later reported that Citigroup had joined Bank of America, Goldman Sachs, JPMorgan, and Morgan Stanley in senior underwriting roles, before saying last week that the company was discussing an IPO that could raise about $75 billion.
The latest report says SpaceX has now submitted draft registration documents to the US Securities and Exchange Commission, putting the company on track for a possible June listing. That filing comes just weeks after Musk combined SpaceX with xAI in an all-stock deal that valued SpaceX at $1 trillion and xAI at $250 billion, creating an enlarged entity valued at $1.25 trillion.
If completed near the reported size, the offering would eclipse Saudi Aramco’s $29 billion 2019 debut by a wide margin. SpaceX generated about $8 billion in profit on as much as $16 billion in revenue last year, with Starlink serving as a major growth engine as the company expands beyond launch services into satellite internet and artificial intelligence-related infrastructure.
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