The company is targeting a valuation above $1.75 trillion, a figure that would place it above Meta, Tesla, and Bitcoin at current market values
Crypto News
SpaceX has submitted a confidential initial public offering filing to the U.S. Securities and Exchange Commission, Bloomberg reported Wednesday, citing people familiar with the matter. The listing could be finalized as early as June, the sources said.
The company is targeting a valuation above $1.75 trillion, a figure that would place it above Meta, Tesla, and Bitcoin at current market values. SpaceX is also exploring raising up to $75 billion from the offering, which would more than double Saudi Aramco's record $29 billion debut in 2019.
Executives are expected to brief prospective investors later this month. The company is weighing a dual-class share structure that would preserve greater voting control for insiders, including Elon Musk, while reserving up to 30% of shares for individual investors.
Bank of America, Goldman Sachs, JPMorgan Chase, Morgan Stanley, and Citigroup are all expected to play roles in the transition to a public listing. The involvement of five major Wall Street firms signals the scale of the anticipated offering.
SpaceX holds 8,285 Bitcoin, worth more than $565 million, on its balance sheet, though it moved those holdings to a new wallet address in October, prompting questions about its long-term intent. The company completed its acquisition of Musk's AI startup xAI in early February, placing it in direct competition with OpenAI and Anthropic in the AI sector.
OpenAI, the maker of ChatGPT, closed its most recent funding round Tuesday with $122 billion in committed capital, bringing its valuation to $852 billion. Both OpenAI and Anthropic are separately weighing public listings in 2026, which would make their shares available on regular stock exchanges.
Trading platforms including Robinhood and Kraken have already been seeking to offer tokenized SpaceX shares on the blockchain, giving retail investors a way to participate in the company before a formal IPO. Robinhood CEO Vladimir Tenev said in February 2025 that blockchain tokenization could help broaden access to private tech firms.
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