SpaceX finally files for IPO, targets $1.75 trillion valuation
Musk's rocket company confidentially filed for a public listing that could raise $75B and become the largest IPO ever.
SpaceX has taken the first major step toward becoming a public company by confidentially filing paperwork with the SEC for an initial public offering. The Elon Musk-led aerospace giant is targeting a monumental $1.75 trillion valuation and aims to raise approximately $75 billion, which would shatter the previous record set by Saudi Aramco's $29 billion listing in 2019. This move follows SpaceX's recent $250 billion acquisition of Musk's other venture, the AI startup xAI, and could launch as soon as June, potentially timed with a rare planetary alignment and Musk's 55th birthday. The confidential filing allows the company to advance its plans without publicly disclosing its financials.
The potential listing arrives amid significant rule changes by the Nasdaq stock exchange that could benefit SpaceX. The exchange has removed a key requirement for inclusion in its flagship Nasdaq 100 index, which had mandated that at least 10% of a company's shares be publicly available. SpaceX reportedly plans to float less than 5% of its equity. Furthermore, Nasdaq reduced the waiting period for large new listings to join the index from three months to just 15 trading days. These changes mean passive funds tracking the index, which manage about $520 billion, could pour money into SpaceX shortly after its debut. The company is also considering allowing some existing shareholders to sell stakes immediately upon listing, bypassing the typical 180-day lock-up period for insiders, a move critics say could distort post-IPO price discovery.
- Targets a $1.75 trillion valuation, which would make it the 6th most valuable U.S. company, behind only Nvidia, Apple, Alphabet, Microsoft, and Amazon.
- Aims to raise $75 billion, which would be more than double the record $29 billion raised by Saudi Aramco in 2019.
- Filing follows Nasdaq rule changes that remove a 10% public float requirement and shorten the index inclusion wait time to 15 days, fast-tracking access to $520B in passive funds.
Why It Matters
This IPO would unlock public investment in the leading space infrastructure company and could redefine valuation benchmarks for the entire tech and aerospace sectors.