SpaceX, founded by Elon Musk, filed confidential disclosures with the U.S. Securities and Exchange Commission for an initial public offering, potentially seeking a valuation of $1.75 trillion, according to Bloomberg sources. As per SEC rules, a private company can confidentially file its IPO registration 15 days before marketing shares publicly, allowing private feedback from the agency. Reuters reported SpaceX has enlisted 21 banks for the IPO, dubbed “Project Apex.” The company aims to raise $75 billion, making it the largest IPO ever, surpassing Saudi Aramco’s $29 billion listing in 2019. SpaceX has previously raised around $10 billion privately.
Founded in 2002, SpaceX leads in space technology, operating reusable rockets and Starlink, a 10,000-satellite network. Musk infused Silicon Valley culture into space contracting, fostering a private technology industry and space startup surge. In February, SpaceX acquired Musk’s xAI, valuing the entity at $1.25 trillion. The conglomerate includes xAI and X, formerly Twitter. Although Musk initially stated SpaceX would go public after reaching Mars, the need for capital has shifted focus to the Moon. Musk mentioned plans for a million-space satellite network launched from the Moon. SpaceX requires significant funds to develop the Starship, a key element for its business plans and NASA’s moon aspirations, purchase spectrum, update Starlink satellites, and support xAI’s deep learning models.