Elon Musk’s SpaceX has confidentially filed for an IPO with the U.S. Securities and Exchange Commission, moving the company closer to what could become the largest public offering in history. The filing follows SpaceX’s February merger with Musk’s xAI, which valued the combined company at $1.25 trillion. Sources report that the IPO could target a valuation of $1.75 trillion, potentially raising up to $75 billion—more than three times the size of any previous U.S. IPO.
Founded in 2002 to develop reusable rockets, SpaceX became NASA’s largest launch partner after the space shuttle program ended in 2011. The company also runs Starlink, a satellite internet service supported by about 10,000 satellites, and owns X, which used to be Twitter. SpaceX has made more than $24 billion from government deals, including projects for NASA, the U.S. Air Force, and the Space Force. In 2025, it carried out 165 orbital launches and tested its Starship Super Heavy rocket.
While the IPO could attract a lot of attention from both individual and institutional investors, experts caution that the stock’s timing and pricing might be influenced by market fluctuations, which are linked to the U.S.-Iran conflict and higher oil prices. Analysts point out that SpaceX’s size, its government contracts, and Musk’s visibility create a unique investment chance. If the IPO goes well, Musk would become the first person to lead two public companies valued at over a trillion dollars, including Tesla.
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