SpaceX is preparing for what could become the largest initial public offering (IPO) in history after confidentially filing draft registration documents with the US Securities and Exchange Commission. The Elon Musk-led aerospace and technology company could be valued at more than $1.75 trillion if the listing goes ahead, analysts say.
The filing positions SpaceX for a landmark market debut that would surpass all previous technology flotations. The company’s plans follow its recent merger with Musk’s artificial intelligence venture, xAI, which is behind the Grok chatbot. The combined entity has already been valued at approximately $1.25 trillion, with SpaceX accounting for the majority of the figure.
SpaceX has begun preparing investors for the potential IPO with a series of briefings. An analyst day is scheduled for April 21, with further meetings with banks set for early May. Analysts are expected to receive details on xAI’s operations, reflecting the growing role of artificial intelligence within SpaceX’s broader strategy.
Founded in 2002 by Elon Musk, SpaceX has become the dominant player in the global launch market, conducting more rocket launches each year than any other company. Its operations include advanced rocket development, satellite deployment, and the Starlink broadband network, which provides high-speed internet around the world.
The company is also pursuing ambitious new projects, including plans to deploy up to one million satellites designed to act as orbital data centres. Such a network could revolutionize global computing and data delivery. SpaceX is additionally advancing Musk’s vision of expanding human presence in space, with goals to establish a self-sustaining lunar base within the next decade and eventually begin building a city on Mars. Musk has noted that the Moon remains the immediate focus.
The proposed IPO would have major implications for global financial markets. A listing at the projected scale would set a new record, providing investors with rare exposure to a company operating at the intersection of space and artificial intelligence. The offering could also accelerate competition in both sectors, signalling that space and AI technologies are increasingly central to the global economy.
While the timing and final valuation of the IPO remain subject to market conditions and regulatory approval, the scale of SpaceX’s ambitions highlights the rapid evolution of both the aerospace and AI industries. The listing would represent a milestone in the commercialisation of space and mark SpaceX as a core player in emerging high-tech markets.
For investors, the IPO offers a unique opportunity to participate in a company that combines transformative technology with long-term exploration goals. For markets worldwide, it could redefine benchmarks for tech valuations and underscore the growing integration of space and artificial intelligence into the economic mainstream.
