Elon Musk’s SpaceX files for IPO, could raise $75 billion in biggest listing yet

Elon Musk-led SpaceX has confidentially filed for an initial public offering (IPO) with the US Securities and Exchange Commission (SEC), setting the stage for what could become the largest stock market debut in history, according to a Bloomberg report.

The aerospace and satellite communications company is reportedly seeking a valuation of around $1.75 trillion.

Under US regulations, companies can submit IPO paperwork confidentially at least 15 days before formally marketing the offering, allowing them to address regulatory feedback away from public scrutiny.

Mega IPO in the making

SpaceX is reportedly looking to raise as much as $75 billion through the offering, potentially surpassing the $29 billion IPO of Saudi Aramco in 2019, currently the largest listing on record.

Reuters reported that as many as 21 banks have been lined up to manage the SpaceX IPO, internally codenamed “Project Apex.”

If successful, the listing could provide a much-needed boost to global IPO markets, which have seen muted activity in recent years.

From rockets to AI

Founded in 2002, SpaceX has transformed the global space industry with its reusable rocket technology and its fast-growing satellite internet arm, Starlink, which operates a constellation of satellites.

The company has raised about $10 billion as a private entity and was last valued at around $800 billion in a secondary share sale.

In February, SpaceX acquired xAI, Musk’s artificial intelligence (AI) venture, in a deal that valued the combined entity at approximately $1.25 trillion. The broader group also includes social media platform X (formerly Twitter).

Investor appetite in focus

A listing of this scale is expected to draw strong interest from both institutional and retail investors, driven by Musk’s track record and SpaceX’s dominant position in commercial space launches and satellite connectivity.

The SpaceX IPO could set the tone for other big tech listings. AI companies like OpenAI and Anthropic are also said to be considering going public.