SpaceX confidentially filed for an IPO - Bloomberg

Elon Musk's private space company SpaceX has confidentially filed for an initial public offering, sources told Bloomberg.

The company has sent a draft registration statement to the U.S. Securities and Exchange Commission (SEC), according to Bloomberg's interlocutors. The listing of the company, which launches rockets, provides Internet via satellites and develops artificial intelligence, may become the largest in history, the agency writes. Filing now would allow SpaceX to float in June and thus become the first of this year's possible three mega-IPOs, ahead of OpenAI and Anthropic - AI developers ChatGPT and Claude, it added.

A SpaceX spokesperson could not immediately respond to Bloomberg's request for comment.

A confidential IPO filing allows companies to get feedback from regulators and make changes before a public disclosure, Bloomberg explains. Details of the deal, including the size of the offering and price range, are expected to be disclosed later.

According to Bloomberg sources, SpaceX could target an IPO valuation of more than $1.75 trillion. The company could raise as much as $75 billion, the Financial Times reported. That would be a new record, beating Saudi oil company Saudi Aramco's $29 billion result in 2019.

SpaceX is considering a two-class share structure that could provide insiders, including Musk, with more voting rights to control decisions, Bloomberg writes. A significant portion of the offering is expected to target retail investors - up to 30% of the shares could be distributed in this segment, one of the agency's sources said.

Musk's space company has engaged 21 banks to prepare its IPO, with Morgan Stanley, Goldman Sachs, JPMorgan, Bank of America and Citigroup as lead organizers, Reuters reported on April 1. Several other international banks will be responsible for bids in specific regions: for example, Barclays will be responsible for the U.K., Deutsche Bank and UBS for Europe, and Citigroup will act as coordinator, Bloomberg claims. In addition to them, Royal Bank of Canada will oversee bids from Canada, Mizuho - from Asia, and Macquarie - from Australia.

SpaceX is already informing potential investors about upcoming meetings with management in April, sources told Bloomberg. Such preliminary meetings with investors may reveal additional details that would confirm the target valuation, the agency explains.

In February, SpaceX bought Musk's AI startup xAI: the combined entity was valued at $1.25 trillion as part of the deal. SpaceX's main revenue comes from rocket launches and Starlink satellite internet. The figure is approaching $20 billion in 2026, while xAI, according to Bloomberg Intelligence estimates, may bring in less than $1 billion.

When SpaceX goes public, Elon Musk will become the first person to head two separate public companies with a market capitalization of more than $1 trillion: Tesla is the current one, CNBC notes. According to Forbes Real-Time, Musk is the richest businessman in the world with a fortune of about $824 billion.

This article was AI-translated and verified by a human editor