Elon Musk’s SpaceX has confidentially filed for an initial public offering with U.S. regulators, setting the stage for what could become the largest stock market listing in history. Bloomberg News first reported the move, which was confirmed by sources to Reuters on April 1, 2026.
Merger with xAI Boosts Valuation
The filing follows SpaceX’s recent merger with Musk’s artificial intelligence startup xAI. The deal valued SpaceX at $1 trillion and xAI at $250 billion, creating a combined entity with ambitions that stretch from rocket launches to orbital AI data centers. SpaceX was previously valued at about $800 billion in a secondary share sale.
Starlink, the company’s satellite internet service with around 9 million subscribers, forms the core of the high valuation. It generates recurring revenue through consumer broadband, defense contracts, and global connectivity, including support in conflict zones.
Record-Breaking Fundraising Plans
SpaceX aims to raise more than $50 billion through the IPO, potentially eclipsing Saudi Aramco’s 2019 record. The company, headquartered in Starbase, Texas, reported approximately $15-16 billion in revenue and $8 billion in profit last year. It launches more rockets than any other entity and is developing Starship for deep-space missions.
The IPO would offer public investors exposure to Musk’s integrated vision of space, satellites, and AI. SpaceX plans analyst briefings starting April 21, including a visit to xAI’s data center in Memphis.
Investor Excitement and Challenges
Analysts note strong demand for SpaceX shares, though valuation could fluctuate based on belief in Musk’s long-term goals, such as colonizing Mars and placing AI infrastructure in orbit. A dual-class share structure is expected to allow Musk to retain control.
The listing comes amid growing interest in space and AI stocks. SpaceX did not comment on the reports. If successful, the June-targeted debut could revitalize the IPO market and precede potential listings from AI firms like OpenAI.