SpaceX IPO Filing Confirmed: Musk's Rocket Giant Targets $1.75 Trillion Valuation in Historic Debut

SpaceX Makes Confidential IPO Filing With the SEC

Elon Musk's aerospace and rocket company SpaceX has taken a decisive step toward a public market debut, submitting a confidential initial public offering filing with the US Securities and Exchange Commission. According to Bloomberg, which first reported the development on Wednesday citing sources with direct knowledge, the filing could be finalized as early as June 2026.

The move marks a historic turning point for one of the world's most valuable private companies, setting the stage for what analysts believe could be the largest public offering in US history.

A $1.75 Trillion Valuation That Would Eclipse Meta and Tesla

The stakes are enormous. SpaceX is eyeing a valuation north of $1.75 trillion, a figure that would push it into the top ten publicly traded companies globally — ahead of both Meta (META) and Tesla (TSLA). Even Bitcoin's (BTC) total market capitalization would fall short of that number at its current levels.

Beyond the valuation, the company is also reportedly considering raising as much as $75 billion through the offering. That sum would more than double the previous all-time record for an IPO — Saudi Aramco's $29 billion listing in 2019 — by a considerable margin.

Sources told Bloomberg that SpaceX executives are expected to begin briefing prospective investors later this month. The company is also weighing a dual-class share structure, a mechanism that would preserve concentrated voting power for insiders, including Musk himself.

Retail Investors Could Receive Up to 30% of Shares

One notable detail in the reported offering structure is an allocation of up to 30% of shares for individual retail investors — a meaningful figure that could democratize access to what has historically been a closely held private company.

Several of Wall Street's most prominent financial institutions are expected to play a role in managing the transition. Bank of America, Goldman Sachs, JPMorgan Chase, Morgan Stanley, and Citigroup have all been named as likely underwriters.

xAI Acquisition Adds AI Dimension to the SpaceX Story

The IPO filing doesn't come in isolation. In early February 2026, SpaceX completed its acquisition of Musk's artificial intelligence startup xAI, entering what has become an intensely competitive race against OpenAI, Anthropic, and a growing field of private AI challengers. The all-stock deal brought xAI's orbital data center ambitions under the SpaceX umbrella, with the combined entity carrying a valuation of approximately $1.25 trillion at the time of the merger.

Meanwhile, OpenAI — the company behind ChatGPT — closed its latest funding round on Tuesday with $122 billion in committed capital, lifting its own valuation to $852 billion. Both OpenAI and Anthropic are expected to pursue public listings in 2026 as well, though SpaceX now appears set to lead the wave.

SpaceX's Bitcoin Holdings Add a Crypto Angle

For crypto-focused investors, there's another layer to the SpaceX IPO story. The company currently holds 8,285 Bitcoin on its corporate balance sheet, a position worth more than $565 million at current prices. However, SpaceX moved that Bitcoin to a new wallet address in October, triggering speculation about its long-term intentions with the holding.

The possibility of a SpaceX IPO has also amplified interest in tokenized equity markets. Platforms including Robinhood and Kraken have been building infrastructure to offer tokenized shares of high-profile private companies like SpaceX and OpenAI, providing retail investors blockchain-based exposure to firms that have not yet gone public. Robinhood CEO Vladimir Tenev pointed to this approach in February 2025, arguing that blockchain tokenization could meaningfully broaden access to private technology companies that have traditionally been off-limits to everyday investors.

With an IPO finalization potentially just months away, that workaround may soon be less necessary — at least for SpaceX.