Report: SpaceX targets June 12 debut in what could be biggest IPO ever

Elon Musk's SpaceX plans to launch a record-breaking initial public offering (IPO) on June 12, aiming to raise up to $80 billion or more from investors, the Wall Street Journal reported on Friday, citing people familiar with the matter.

If completed, the listing would rank as the largest stock market debut ever.

SpaceX plays a central role in the US space programme through its rocket launches and also operates the Starlink satellite internet network.

Musk has also folded his artificial intelligence company xAI and social media platform X into SpaceX. Following the merger, the combined group was reportedly valued at about $1.25 trillion.

The billionaire entrepreneur recently said xAI would no longer operate as a separate company and that AI products such as the Grok chatbot would instead be marketed under the SpaceXAI brand.

Musk has also outlined plans for AI data centres in space, arguing that solar energy would be abundant there and cooling systems easier to operate. Critics, however, point to major challenges including high construction costs and radiation that could damage electronic circuits.

Musk is chief executive and a major shareholder of SpaceX. He also leads electric carmaker Tesla.

The SpaceX flotation could become the first of several massive technology listings this year. Media reports have also linked ChatGPT developer OpenAI and rival Anthropic to potential stock market debuts expected to generate massive proceeds.