The American aerospace and artificial intelligence company, SpaceX founded by Elon Musk, has submitted a confidential application for an initial public offering (IPO) to the Securities and Exchange Commission.
This action brings the company closer to what is expected to be the largest IPO in history. According to reports, the firm is aiming for a valuation exceeding $1.75 trillion.
The listing is projected to occur as soon as June.
Founded by Elon Musk in 2002, SpaceX has transformed from a groundbreaking rocket manufacturer into NASA‘s primary launch partner.
In February, the company merged with Musk’s xAI, resulting in a combined valuation of $1.25 trillion.
The IPO will position Musk as the first individual to head two distinct trillion-dollar publicly traded enterprises.
Tesla, an electric vehicle manufacturer established by Musk, is presently valued at $1.4 trillion.
SpaceX expected to break all previous records
With this initiative, the company is expected to break all existing records.
As per reports, the company could potentially raise as much as $75 billion, which is threefold the amount of the largest U.S. IPO recorded so far. In the past, the largest IPO filing was that of Alibaba, which amounted to $22 billion in 2014.
A confidential filing allows companies to present financial information to the SEC, which is assessed before the information is made public. SpaceX is required to submit a public filing at least 15 days before the IPO road show.
NASA all set for historic Artemis II moon mission
Earlier, it was reported that as part of its Artemis II mission, NASA is preparing to send astronauts to the moon for the first time in over fifty years, marking a significant advancement in its lunar exploration initiative.
This mission occurs in the context of intensified competition stemming from China’s emergence in the space sector, as the United States endeavors to reaffirm its supremacy.
