Elon Musk’s SpaceX has confidentially filed for an initial public offering with US regulators, paving the way for what could become the largest IPO in history.
The aerospace company could seek a valuation exceeding $1.75 trillion and raise as much as $75 billion, more than doubling Saudi Aramco’s record $29 billion debut.
SpaceX has also indicated it may brief prospective investors later this month as preparations for the listing progress.
The company is considering a dual-class share structure that would give insiders, including Musk, enhanced voting control following the public debut.
Major Wall Street banks including Bank of America, Goldman Sachs, JPMorgan Chase, Morgan Stanley and Citigroup are expected to support the IPO process.
Following the announcement the SpaceX implied valuation was targeting $1.75 trillion.
The potential listing comes after SpaceX’s acquisition of Musk’s AI startup xAI, positioning the company within the intensifying competition among leading artificial intelligence firms.
SpaceX also holds more than 8,000 Bitcoin on its balance sheet, adding a crypto dimension to one of the most anticipated public offerings in market history.