Elon Musk’s SpaceX has confidentially filed for an initial public offering, setting the stage for what could become the largest stock market listing on record, Bloomberg News reported Wednesday.
A public listing at a potential valuation of more than $1.75 trillion would signal that space exploration has moved from speculative venture to a mainstream investment theme.
SpaceX’s growth has been driven by its reusable rockets and the Starlink satellite internet network.
The filing comes after SpaceX merged with Musk’s artificial intelligence startup xAI in a deal that valued the rocket company at $1 trillion and the developer of the Grok chatbot at $250 billion.
Musk, the world’s richest person, runs a sprawling business empire that spans electric vehicles at Tesla, space launch, satellite broadband, AI and social media.
“Investors could use a sum-of-the-parts analysis, but, like with Tesla, SpaceX’s valuation could very much fluctuate wildly based off how much the public believes in Musk’s vision,” said Angelo Bochanis, data and index associate at Renaissance Capital, a provider of IPO-focused research and ETFs.
“So far, investors seem to be clamoring for any sort of exposure to SpaceX.”
This is a developing story. Please check back for updates.
