Elon Musk's SpaceX has confidentially filed for a U.S. initial public offering with the Securities and Exchange Commission, multiple sources confirmed on April 1. The listing, reportedly targeting a valuation of $1.75 trillion, would be the largest IPO in history by a wide margin.

Record-Shattering Numbers

The company is looking to raise up to $75 billion - more than three times the previous U.S. record set by Alibaba's $22 billion IPO in 2014. A listing is expected around June 2026, though market conditions and geopolitical tensions could affect timing.

From Rockets to AI

SpaceX merged with Musk's xAI in February 2026, creating a combined entity valued at $1.25 trillion at the time. The company operates NASA's primary launch partnership, the Starlink satellite internet constellation, and now xAI's artificial intelligence infrastructure. In 2025 alone, SpaceX conducted 165 orbital flights.

What It Means

The filing makes Musk the first person poised to helm two separate trillion-dollar public companies, alongside Tesla. SpaceX has received over $24.4 billion in federal government contracts since 2008, spanning NASA, the Air Force, and Space Force.

A confidential filing allows SpaceX to undergo SEC review before revealing financials publicly. The company must release a public filing at least 15 days before its IPO roadshow. Georgetown finance professor Reena Aggarwal noted the offering could face headwinds from recent market volatility tied to geopolitical tensions, but expects strong retail investor interest given the rarity of the opportunity.