SpaceX is seeking to file publicly for its long-awaited IPO as soon as Wednesday, according to people familiar with the matter.
Elon Musk’s rocket, satellite and artificial intelligence company aims to kick off formal marketing as soon as June 4, price its initial public offering as early as June 11 and list on June 12, one of the people said, asking not to be identified as the information isn’t public.
Details of the IPO including the size and timing could still change, the people said. A representative for SpaceX didn’t immediately respond to a request for comment.
The company has picked Nasdaq for its IPO and will list under the ticker SPCX, Reuters reported earlier Friday, citing people it didn’t identify. The news agency was first to report the new timeline. Nasdaq declined to comment.
SpaceX has filed confidentially to go public and is seeking to raise as much as $75 billion at a valuation of more than $2 trillion, Bloomberg News has reported, which would be the largest IPO of all time.
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The company has picked Bank of America Corp., Citigroup Inc., Goldman Sachs Group Inc., JPMorgan Chase & Co. and Morgan Stanley for senior roles on the IPO, and has added more banks to the lineup.
SpaceX has grown from a relative underdog in the space industry to an aerospace behemoth with billions of dollars in government contracts and serves as a backbone for America’s space program.
In addition to its rocket launch business, SpaceX’s satellite-based Starlink internet broadband service operates the largest network of satellites in low-Earth orbit and is a crucial source of revenue.
SpaceX also owns the Grok AI assistant following an all-stock acquisition in February of xAI.
The company’s rocket launch program and Starlink satellites generate the majority of revenue, approaching $20 billion in 2026, with xAI likely to generate less than $1 billion, according to Bloomberg Intelligence.
A SpaceX IPO promises to be a huge market spectacle as investors get a chance to buy into Musk’s fast-evolving vision to create a combined space and AI powerhouse, driving toward his often-repeated goal of “making life multiplanetary.”
SpaceX is preparing to publicly file for its long-anticipated initial public offering (IPO), with expectations to initiate formal marketing as early as June 4, price the offering around June 11, and potentially list on June 12. This information comes from sources familiar with the matter who requested anonymity due to the non-public nature of these details. Although the specifics of the IPO, including its size and timing, could still be subject to change, the company has chosen Nasdaq for its listing, under the ticker symbol SPCX.
According to reports, SpaceX has confidentially filed for its IPO and is seeking to raise up to $75 billion at an astonishing valuation exceeding $2 trillion, which would mark it as the largest IPO in history. Major financial institutions, including Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, and Morgan Stanley, have been selected for senior roles in the IPO process.
SpaceX has evolved from being a relatively small player in the aerospace sector to a dominant force, securing billions of dollars in government contracts and serving as a crucial component of the United States’ space initiatives. The company is not only renowned for its rocket launch services but also for its satellite-based Starlink internet service, which boasts the largest network of low-Earth orbit satellites and is a significant revenue driver for the company.
In addition to its space ventures, SpaceX has expanded its portfolio by acquiring the Grok AI assistant through an all-stock transaction with xAI in February. While the revenue generated from SpaceX’s rocket launches and Starlink is projected to approach $20 billion by 2026, the AI division is expected to contribute less than $1 billion.
The upcoming IPO is poised to attract considerable attention from investors, providing them with the opportunity to engage with Elon Musk’s vision of a combined space and artificial intelligence enterprise, all while striving toward his goal of making life multiplanetary. The anticipation surrounding this IPO underscores the significant impact SpaceX has had not just in the aerospace industry, but also in the realm of technology and innovation.
