Musk submits documents for SpaceX IPO, one of the largest in history
The potential valuation of Elon Musk's holding company would be $1,750 billion. Three-way war for the listing of the year. Three companies, three visions, three crossed fates
The first of the big IPOs related to artificial intelligence that should arrive by the end of this year is no longer a hypothesis: according to Bloomberg, in fact, Elon Musk has confidentially filed the documents for SpaceX's Wall Street landing. According to sources interviewed by the agency, the draft registration submitted to the US Securities and Exchange Commission (SEC) paves the way for the listing in June. News confirmed by the Wall Street Journal. It will be one of the largest listings in history.
SpaceX today is not only the company that sends rockets into space to carry or retrieve astronauts, or satellites into low orbit with Startlink. Since last February, SpaceX has been the holding company for Musk's artificial intelligence business. Space X controls xAI, which develops artificial intelligence models like Grok, which in turn controls X, the former Twitter.
As for future space activities, it aims to build space data centres, as well as operations to one day take humans to Mars and the Moon. Here is a recent development: this year SpaceX has shifted its focus to building a 'self-sufficient city on the Moon' as an immediate priority, putting the infatuation with Mars on the back burner.
SpaceX is aiming for a $1.75 trillion valuation, with the goal of raising around $50 billion, surpassing Saudi Aramco's record of $1.7 trillion in 2019 debut. As of today, the valuation is around 800 billion. Last year, SpaceX posted revenues of 15-16 billion, with a profit of around 8 billion thanks mainly to Starlink, while xAI is valued at 250 billion despite revenues of only 210 million and a cash burn of 9.5 billion in the first nine months of 2025.
A few hours ago OpenAI closed the deal to raise $122 billion with a valuation of $852 billion, by far the company's largest funding round to date. The Sam Altman-led company is also expected to go public in the coming months.
