SpaceX is seeking to file publicly for its long-awaited IPO as soon as Wednesday, according to people familiar with the matter.
Elon Musk’s rocket, satellite and artificial intelligence company aims to kick off formal marketing as soon as June 4, price its initial public offering as early as June 11 and list on June 12, one of the people said, asking not to be identified as the information isn’t public.
Details of the IPO including the size and timing could still change, the people said. A representative for SpaceX didn’t immediately respond to a request for comment.
The company has picked Nasdaq for its IPO and will list under the ticker SPCX, Reuters reported earlier Friday, citing people it didn’t identify. The news agency was first to report the new timeline. Nasdaq declined to comment.
SpaceX has filed confidentially to go public and is seeking to raise as much as $75 billion at a valuation ofmore than $2 trillion, Bloomberg News has reported, which would be the largest IPO of all time.
Read More:SpaceX Ticker Speculation Is Heating Up as Tuttle Drops ‘SPCX’
The company has picked Bank of America Corp., Citigroup Inc., Goldman Sachs Group Inc., JPMorgan Chase & Co. and Morgan Stanley forsenior roleson the IPO, and has added more banks to the lineup.
SpaceX has grown from a relative underdog in the space industry to an aerospace behemoth withbillions of dollarsin government contracts and serves as a backbone for America’s space program.
In addition to its rocket launch business, SpaceX’s satellite-based Starlinkinternet broadband service operatesthe largest network of satellites in low-Earth orbit and is a crucial source of revenue.
SpaceX also owns the Grok AI assistant following anall-stock acquisitionin February of xAI.
The company’s rocket launch program and Starlink satellites generate the majority of revenue, approaching $20 billion in 2026, with xAI likely to generate less than $1 billion, according to Bloomberg Intelligence.
A SpaceX IPO promises to be a huge market spectacle as investors get a chance to buy into Musk’s fast-evolving vision to create a combined space and AI powerhouse, driving toward his often-repeated goal of “making life multiplanetary.”
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