The Biggest IPO in History Is Coming! Musk’s SpaceX Reportedly Secretly Filed for an IPO, Valuation Pointing to $1.75 Trillion

Citing people familiar with the matter, Bloomberg reports that SpaceX, the space exploration company owned by the world’s richest person Elon Musk, has officially and confidentially filed an initial public offering (IPO) application with the U.S. Securities and Exchange Commission (SEC). The company’s target valuation is as high as 1.75 trillion dollars, and it plans to raise a record-breaking 75 billion dollars. If the listing goes smoothly, it would become the largest IPO deal in global history.
(Backgrounder: REX Shares files first for a “2x leveraged ETF” tracking SpaceX and Anthropic before they even go public)
(Additional background: SpaceX reportedly plans to submit a listing application as early as this week—fundraising 75 billion dollars, in the middle of the largest IPO in human history)

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• Plans to raise 75 billion dollars, shattering historical records
• Integrating xAI for positioning—Musk will steer two “trillion-level” companies at the same time
• Deeply tied to U.S. national interests—government orders provide solid backing

Global capital markets are about to welcome an unprecedented tech behemoth. According to Bloomberg, Elon Musk’s SpaceX has submitted confidential IPO filing documents to the U.S. SEC, laying the groundwork for this giant that is disrupting the global aerospace industry to enter the public market.

Plans to raise 75 billion dollars, shattering historical records

According to people familiar with the matter, SpaceX is seeking a public listing valuation of as much as 1.75 trillion dollars. Even more startling to Wall Street is that the company plans to raise as much as 75 billion dollars through this offering. If the plan comes to fruition, it would easily shatter the history of global IPOs.

Looking back at history, the largest IPO by market size currently in the U.S. market was the 22 billion dollars raised by Chinese e-commerce giant Alibaba in 2014; second was Visa, which raised nearly 18 billion dollars in 2008. SpaceX’s fundraising target is more than 3 times Alibaba’s.

Per SEC requirements, a confidential filing allows companies to have their financial situation reviewed internally by regulators before disclosing it to the public and potential investors. SpaceX must publicly file this document at least 15 days before it kicks off its IPO road show.

Integrating xAI for positioning—Musk will steer two “trillion-level” companies at the same time

Founded in 2002, SpaceX initially focused on developing reusable rocket technology. After NASA ended the Space Shuttle program in 2011, SpaceX rapidly rose to become NASA’s largest launch partner. Notably, this February, SpaceX officially merged with xAI, the artificial intelligence startup under Musk. At the time of the merger, the internal valuation of the merged entity was about 1.25 trillion dollars. Now, with a target valuation of 1.75 trillion dollars, it shows the market’s extremely high expectations for the twin engines of “space infrastructure + general artificial intelligence.”

Once SpaceX successfully goes public, Musk will set another historical record: becoming the first CEO in the world to simultaneously lead two publicly listed companies in the “billion-dollar-level” range.

Deeply tied to U.S. national interests—government orders provide solid backing

SpaceX’s backbone for taking on such an enormous valuation largely comes from its deep ties with the U.S. government. According to data from FedScout, a research organization on federal spending and government contracts, since 2008 SpaceX has earned more than 24.4 billion dollars in revenue from collaborations with the U.S. federal government. Its core customers not only include NASA, but also key national-security-related institutions such as the U.S. Air Force and the U.S. Space Force.

Analysts believe that SpaceX’s IPO will not only inject massive liquidity and buzz into global stock markets, but also marks that the capitalization of private aerospace and AI technology has reached an unprecedented level. Investors are holding their breath, waiting for the prospectus that will soon be made public, to catch a glimpse of the true financial footprint of this mysterious tech empire.