SpaceX confidentially files IPO for possible valuation of $1.75T

Elon Musk-owned SpaceX confidentially filed IPO paperwork with the US Securities and Exchange Commission (SEC), signalling preparations for a potential public listing which could value the company at up to $1.75 trillion, according to Bloomberg.

SEC rules allow private companies to submit IPO filings confidentially up to 15 days before marketing their shares, enabling them to address regulator feedback out of public view.

Bloomberg reported SpaceX is on track for a listing in June, ahead of IPOs by OpenAI and Anthropic.

Reuters reported SpaceX is aiming to raise $75 billion and has assembled 21 banks to manage the offering, codenamed Project Apex.

The $75 billion IPO would eclipse all previous record listings, including Saudi oil company Aramco’s $29 billion flotation in 2019.

In February, SpaceX acquired Musk’s start-up xAI in a record deal valuing the combined entity at $1.25 trillion.

SpaceX needs a large amount of capital to build and launch its Starship rocket, provision its direct-to-device satellites and deploy up to 1 million Starlink birds designed to operate as solar-powered data centres for AI.