SpaceX Files Draft IPO Filing Ahead of Emerging AI Competitors
SpaceX Confidently Submits Draft IPO Filings, Aiming for Record-Breaking Listing
Billionaire Elon Musk's rocket company SpaceX has taken a significant step towards a potential initial public offering (IPO) by confidentially submitting draft filings to the United States Securities and Exchange Commission (US SEC). According to Bloomberg, the filings were submitted on Wednesday, citing sources. This move puts SpaceX on track for a June listing, potentially beating the debut of Saudi Aramco in 2019.
The confidential filing allows the company to receive feedback from the regulator and make changes before the information becomes public. Details of the offering, including the number of shares to be sold and the price range, are expected to be disclosed in a later filing. SpaceX's IPO is widely anticipated to be one of the largest listings in history, with sources suggesting that the company could seek a valuation of over $1.75 trillion.
This valuation is significant, considering that SpaceX acquired xAI in February, valuing the enlarged entity at $1.25 trillion. A previous Bloomberg News report estimated that SpaceX's listing could raise as much as $75 billion, shattering the current record held by Saudi Aramco's $29 billion listing in 2019.
SpaceX's plans to go public are aimed at funding its ambitious projects, including an "insane flight rate" for its developmental Starship rocket, artificial intelligence data centers in space, and a base on the moon. The company has reportedly lined up Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, and Morgan Stanley for senior roles on the IPO, with additional banks to be added to the lineup.
A virtual financial discussion with banks is scheduled to take place on May 4. SpaceX is also considering a dual-class share structure, which could give insiders, including Musk, extra voting power to dominate decision-making.
| Company | IPO Listing | Valuation |
|---|---|---|
| Saudi Aramco | 2019 | $29 billion |
| SpaceX | 2026 (potential) | $1.75 trillion (estimated) |
Note: The table compares the IPO listing and valuation of Saudi Aramco and SpaceX.
Read also: SMR Jewels IPO Successfully Lists with Institutional Support
Investor Takeaway
SpaceX's potential IPO could be the biggest-ever listing, with a valuation of over $1.75 trillion.
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