SpaceX files for record-breaking $75 billion public offering

SpaceX stated in a filing with the US Securities and Exchange Commission on Tuesday that it intends to sell 555.6 million shares at $135 apiece. The planned listing would raise approximately $75 billion, valuing the company at roughly $1.77 trillion and eclipsing the $29.4 billion record set by Saudi Aramco in 2019, according to the regulatory documents.

Trading and proceeds

The aerospace manufacturer said trading is expected to commence next Friday. Proceeds from the offering will support capital expenditure requirements across its space exploration and artificial intelligence divisions, the filing noted.

Musk's retained control

Musk currently owns roughly half of SpaceX and is expected to maintain nearly that proportion following the public offering. Due to special voting shares outlined in the filing, he would command 82.4 percent of the company’s voting power, ensuring his continued dominance over strategic decisions.

The IPO could elevate Musk’s personal fortune, with his SpaceX stake valued at approximately $841 billion based on the proposed share price. Combined with his holdings in Tesla, his net worth could surpass $1 trillion, according to calculations derived from the filing.

From rockets to AI

Founded in 2002, SpaceX has transformed from a specialized rocket launch provider into a conglomerate spanning satellite internet and artificial intelligence. The company expanded into telecommunications through Starlink, its satellite-based broadband service, and recently combined operations with xAI, Musk’s artificial intelligence venture.

The IPO documentation stated ambitions for artificial intelligence development and space-based data centers, alongside objectives in lunar and Martian exploration. These initiatives represent the company's broader pivot toward integrated space and computing infrastructure.

Market momentum

The filing arrives amid strong investor appetite for enterprises associated with artificial intelligence, despite lingering questions regarding profitability across the sector. Anthropic and OpenAI, two other prominent artificial intelligence firms, are also expected to pursue public listings, according to industry reports.

This convergence of major technology offerings could generate substantial new wealth within the sector while testing market capacity for high-growth, capital-intensive enterprises. SpaceX's debut would mark a pivotal moment for private space companies transitioning to public markets.