Elon Musk's SpaceX has confidentially filed for an initial public offering with the U.S. Securities and Exchange Commission, according to reports from Bloomberg and CNBC. The filing targets a valuation exceeding $1.75 trillion following a merger with Musk's artificial intelligence venture, xAI. The company intends to raise as much as $75 billion to fund its ambitious deep-space and infrastructure goals.
Scaling the Largest Public Offering in History
If completed, the offering would represent the largest public debut in history, far surpassing the $29 billion raised by Saudi Aramco in 2019. The confidential nature of the filing allows regulators to review financial data privately before the details are released to the general public. Bloomberg reports that the company expects to officially launch the IPO in June.
While Musk has not issued a formal statement, he previously hinted at a public listing for the company's satellite internet service. In February 2021, he noted on X that Starlink could go public once cash flow became reasonably predictable. More recently, he confirmed the accuracy of predictions regarding a near-term public offering.
"As usual, Eric is accurate," Musk wrote in response to a post by Ars Technica editor Eric Berger regarding the timing of the IPO.
Integration of AI and Orbital Infrastructure
An internal memo viewed by Bloomberg indicates the capital will fund an "insane flight rate" for the Starship rocket system. The company also plans to build artificial intelligence data centers in space and establish a permanent lunar base. These goals rely on the successful deployment of Starship, which is designed to carry crew and cargo to the Moon and Mars.
This move positions SpaceX to capture market attention ahead of other highly anticipated AI-related IPOs, including those of OpenAI and Anthropic. By combining aerospace capabilities with xAI's intelligence frameworks, the entity seeks to create a vertically integrated tech giant. This strategy marks a significant shift from traditional aerospace business models.
Historically, SpaceX has relied on private funding rounds to scale its operations and the Starlink constellation. Transitioning to a public entity provides the massive liquidity required for the high-risk development of deep-space hardware. The company continues to navigate technical setbacks, including several Starship explosions during testing phases.
Investors will now watch for the SEC's review process and the official prospectus release in the coming months. The success of the offering depends on the company's ability to prove consistent revenue growth from Starlink and the viability of its Mars ambitions. A successful debut would redefine the valuation ceiling for the global aerospace industry.