SpaceX, the aerospace firm founded by Elon Musk, is positioning itself to become one of the world’s most valuable publicly listed companies.
The company, which develops rockets, space exploration systems and Starlink satellites, remains privately held. However, it has submitted a confidential filing to the U.S. Securities and Exchange Commission for an initial public offering, paving the way for its shares to be traded on public markets.
Once listed, SpaceX is expected to achieve a valuation exceeding $1 trillion (£751 billion), potentially making its stock market debut among the most significant in financial history.
Musk’s personal stake in the company could also place him on course to become the world’s first trillionaire.
According to reports from Bloomberg, Reuters and The New York Times, the company is targeting a public listing as early as June.
A confidential filing allows companies to consult with regulators before publicly disclosing detailed financial information. The next phase will involve investor “roadshows,” where executives present the business to major institutional investors.
SpaceX is reportedly aiming to raise $50 billion or more through the offering.
Earlier this year, the company acquired xAI, Musk’s artificial intelligence venture. Following the all-stock transaction, SpaceX is believed to have become the world’s most valuable private company, with an internal valuation of $1.25 trillion.
Musk’s businesses have increasingly converged in recent years. In 2024, xAI acquired X, the social media platform previously known as Twitter, which Musk purchased in 2022.
Analysts say the consolidation signals preparation for a public listing. Emily Zheng, a senior analyst at PitchBook, said integrating xAI into SpaceX could demonstrate cost efficiencies and improved resource-sharing across Musk’s ventures.
She added that SpaceX’s capital-intensive ambitions require substantial funding, citing the “sheer cost of compute, infrastructure, and energy” needed for expansion.
Earlier this year, Tesla disclosed it had invested more than $2 billion in xAI. Musk has also indicated that a significant portion of Tesla’s manufacturing will shift toward robotics, leveraging xAI technologies such as Grok, which is already integrated into some Tesla vehicles as an AI assistant.
SpaceX is also expected to collaborate with Tesla and xAI on a major semiconductor initiative announced by Musk, known as Terafab.
“Tesla, xAI and SpaceX have all done amazing things that people did not think could be done before,” Musk said in a March presentation discussing Terafab.
Founded in 2002, SpaceX was established to reduce the cost of space launches, primarily through the development of reusable rockets. The company secured its first contract with NASA in 2006.
Today, its core operations remain focused on rocket launches and the expansion of Starlink, a global satellite-based internet network.
Musk has also outlined more ambitious long-term goals, including deploying AI data centres in orbit and establishing a self-sustaining city on Mars—objectives that some experts say are highly challenging to achieve.
