April 2, 2026

• less than 3 min read

Elon Musk’s combination Pizza Hut and Taco Bell aerospace and AI company filed initial paperwork to go public as soon as June, Bloomberg reported yesterday, in a potentially record-shattering listing.

SpaceX wants to raise $75 billion at a $1.75 trillion valuation, according to Bloomberg, a gargantuan goal that would tower over all past public offerings. For context:

• The current IPO record holder is Saudi Aramco, which generated $29 billion from its 2019 debut.
• Last year, the US IPO market raised $44 billion all together…from 202 company listings.

If SpaceX hits its target, it would become one of the ten most valuable publicly traded companies, ahead of Meta and Tesla, but behind the rest of the Mag 7, whose individual profits are 10x greater or more than SpaceX’s. Still, Musk’s stake could make him the world’s first trillionaire.

IPO details are under wraps, for now: SpaceX submitted a confidential filing, per Bloomberg. The number of shares, share price, and other information will be announced later, with one untraditional detail expected: Up to 30% of IPO shares could reportedly be reserved for individual investors—triple the norm—potentially signaling that SpaceX wants hefty participation from retail traders, a group that has embraced Musk’s Tesla (cough r/WallStreetBets).

What else does SpaceX want from the IPO?

Funding for data centers in space, a base on the moon, and an “insane flight rate” for its developmental Starship rocket, the company said in a recent internal memo.

Two birds, one IPO: xAI—the money-burning startup that houses Grok and X—was acquired by SpaceX last month, so this IPO could propel Musk’s AI business to the public markets before OpenAI and Anthropic, which are both expected to IPO as early as this year.

Looking ahead…after its IPO, SpaceX will be able to join Nasdaq’s main index after 15 days of trading, instead of three months, due to a rule change effective May 1. Meanwhile, banks expect this to be a big year for IPOs overall.—ML

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