SpaceX reportedly files confidential IPO documents for potential $1.75 trillion listing

Aerospace and technology company SpaceX, founded by Elon Musk, has reportedly submitted confidential filings to the U.S. Securities and Exchange Commission as it prepares for a potential initial public offering. According to Bloomberg, which cited sources familiar with the matter, the company could seek a valuation of approximately $1.75 trillion.

Under current SEC rules, private companies may file IPO registration documents confidentially for at least 15 days before they begin marketing shares to public investors. This process enables companies to receive regulatory feedback privately before formally launching their offering. Reports indicate that SpaceX has assembled a group of 21 banks to manage the offering, which is internally referred to as “Project Apex.”

The company is expected to raise around $75 billion through the IPO, a figure that would make it the largest public offering in history, significantly surpassing the $29 billion listing of Saudi Aramco in 2019. To date, SpaceX has raised an estimated $10 billion while operating as a private company.

Founded in 2002, SpaceX has become one of the most influential players in the global space industry. The company operates reusable rocket systems, advanced spacecraft, and a large-scale satellite network known as Starlink, which currently includes around 10,000 satellites providing communication services worldwide. By introducing Silicon Valley-style innovation into the aerospace sector, SpaceX has played a major role in transforming the industry and accelerating the growth of private space ventures.

Earlier this year, SpaceX expanded its operations by acquiring xAI, Musk’s artificial intelligence venture, in a deal that valued the combined entity at $1.25 trillion. The broader organisation now encompasses xAI and X, the platform formerly known as Twitter.

For many years, Musk had stated that SpaceX would remain private until its spacecraft reached Mars. However, increasing capital requirements have prompted a shift in strategy, even as the company adjusts its near-term ambitions toward lunar missions. In recent months, Musk has also outlined plans to deploy a large-scale network of up to one million data-centre satellites in orbit, to be built and launched from Earth’s closest celestial neighbour.

The company’s funding needs are substantial. SpaceX is investing heavily in the development of Starship. This fully reusable heavy-lift rocket is central to both its long-term commercial plans and NASA’s goal of returning astronauts to the moon ahead of competing global efforts. In addition, the company must continue to expand and maintain its Starlink network, including acquiring spectrum and replacing ageing satellites, while also supporting the significant computational demands of training and operating xAI’s advanced AI systems.

The potential IPO represents a major milestone for SpaceX, signalling not only a shift in its long-standing approach to public markets but also an effort to secure the capital needed to sustain its ambitious projects in space exploration, communications, and artificial intelligence.