SpaceX targets March confidential IPO filing at potential $1.75 trillion valuation

SpaceX is preparing to confidentially file for an initial public offering as soon as next month, positioning Elon Musk’s rocket and satellite company for what could become the largest IPO in history.

The Starbase, Texas based firm is expected to submit a draft registration to the US Securities and Exchange Commission in March, keeping it on track for a potential June listing. A confidential filing would allow SpaceX to work through regulatory feedback before publicly releasing financial details.

According to a Bloomberg report, SpaceX could pursue a valuation exceeding $1.75 trillion in the IPO. That marks a dramatic rise from earlier private market discussions that valued the company below $1 trillion, then near $1.25 trillion following its February acquisition of Musk’s AI startup xAI. Market chatter later pushed expectations toward $1.5 trillion before current projections approached $1.75 trillion.

At that level, SpaceX would rank among the five most valuable public companies globally, trailing only names such as Nvidia, Apple, Microsoft, Alphabet and Amazon, and surpassing both Meta and Tesla by market capitalization.

The offering could raise as much as $50 billion, eclipsing Saudi Aramco’s $29 billion debut in 2019 as the largest IPO on record. SpaceX has reportedly lined up Bank of America, Goldman Sachs, JPMorgan and Morgan Stanley for senior roles in the deal.

Proceeds are expected to support aggressive expansion plans, including scaling Starship launch frequency, building artificial intelligence data centers in orbit and advancing lunar base ambitions.

The company’s dominance in orbital launches through Falcon 9 and its Starlink satellite network, which serves millions of customers globally, has fueled investor appetite. EchoStar, which holds a stake in SpaceX following prior spectrum transactions, saw its shares jump as much as 10% on the news.