"Target valuation of $1.75 trillion"…SpaceX may begin IPO process as early as next month

Elon Musk’s aerospace company SpaceX is expected to file confidential draft registration documents with the U.S. Securities and Exchange Commission (SEC) as early as next month.

Bloomberg reported this on the 27th (local time), citing sources.

SpaceX is said to be pursuing a plan to secure a valuation of $1.75 trillion (about 252.4 trillion won) through an IPO after recently expanding its scale by acquiring AI startup xAI.

If the listing goes through, observers say SpaceX could join Nvidia, Apple, Microsoft, Alphabet and Amazon as one of the world’s most valuable publicly traded companies.

SpaceX is expected to raise as much as $50 billion. The previous record for the largest IPO proceeds was Saudi state oil company Aramco’s $29 billion in 2019.

SpaceX plans to use the funds to develop the large spacecraft Starship, build space AI data centers, and pursue projects such as constructing a lunar base.

June—when Musk’s birthday falls—has been floated as the target timing for the listing. However, the plan could change depending on internal decisions and the SEC’s confidential review schedule.

Potential lead underwriters under consideration include Bank of America (BoA), Goldman Sachs, JPMorgan Chase and Morgan Stanley.

SpaceX operates the satellite-based internet service Starlink and a space launch vehicle business. Some 50% to 70% of revenue comes from Starlink. Last year’s revenue was reported at $15 billion to $16 billion, with profit around $8 billion.

By Shin Yong-hyun, Hankyung.com reporter yonghyun@hankyung.com