SpaceX, the aerospace and artificial intelligence company led by Elon Musk, confirmed plans to go public on Wednesday. The company filed an investor prospectus for an initial public offering expected as early as next month. The listing is planned for the Nasdaq under the ticker SPCX.
This debut could become the largest IPO in history, potentially three times the size of the current record. SpaceX seeks to raise up to $75 billion at a valuation of approximately $1.75 trillion, with some reports suggesting more than $2 trillion. Following the listing, Musk will remain CEO, CTO, and Chairman of the Board, maintaining majority voting power. The move is expected to make Musk the world's first trillionaire.
The filing provides a rare first look at the company's financials, revealing a complex empire with extensive US government contracts. While Starlink has shown strong earnings, the firm has faced ballooning losses and debt related to futuristic endeavors and the acquisition of a cash-hungry startup. Funds from the offering will support missions to the Moon and Mars, as well as the development of AI data centers in space.