Elon Musk’s SpaceX Files Confidentially for Record-Breaking $1.75 Trillion IPO

Elon Musk’s SpaceX has filed confidential paperwork for an initial public offering with the U.S. Securities and Exchange Commission, according to reports today from Bloomberg And CNBC.

The company is reportedly targeting a valuation of more than $1.75 trillion following its merger with Musk’s artificial intelligence startup xAI. The aerospace company is looking to raise as much as $75 billion in what it says would be the largest initial public offering in history. Bloombergsurpassing Saudi Aramco’s $29 billion debut in 2019.

The confidential filing allows regulators to privately review the company’s finances before they are made public. The IPO is expected to start in June, Bloomberg said.

While Musk has not made a public statement about the filing, he has suggested the plan was on his radar. In February 2021 Musk posted on X that SpaceX’s Starlink internet service could go public: “As soon as we can predict the cash flow reasonably well.”

In December, after Eric Berger, senior space editor at Ars Technicaposted “Here’s why I think SpaceX will go public soon,” Musk said responded“As usual, Eric is accurate.”

The June timeline would give SpaceX an edge over other potential blockbuster IPOs yet to come, including OpenAI and Anthropic. The IPO would be aimed at financing what the company described as an “insane flight rate” for its developmental Starship rocket, space artificial intelligence data centers and a moon base, according to an internal memo viewed by Bloomberg.

Musk’s long-term ambitions center on Starship, SpaceX’s rocket system designed for missions in space. SpaceX says the vehicle will eventually carry cargo and crew to the moon and Mars. However, setbacks, including spaceship explosions, prevented that dream from coming true.