SpaceX Files for Initial Public Offering

The move puts SpaceX on track for a public market listing by July, The Wall Street Journal reported, citing people familiar with the process.

Elon Musk's SpaceX has confidentially filed papers with US securities regulators for what could become the largest initial public offering in history, a source familiar with the matter told AFP.

The move puts SpaceX on track for a public market listing by July, The Wall Street Journal reported, citing people familiar with the process.

The US Securities and Exchange Commission declined to comment.

US media reported that the IPO could value the company at an impressive $75 billion or more, a figure reflecting its sky-high ambitions.

The offering is expected to surpass the largest public listing on record so far, that of Saudi oil giant Saudi Aramco in 2019, when it raised $25.6 billion.

SpaceX, which dominates the space launch market with its reusable rockets, is owned by Musk along with several investment funds and technology companies, including Google parent Alphabet.

The company's rockets have dramatically reduced the cost of putting satellites into orbit. SpaceX also owns the Starlink satellite network.

In February, Musk announced that SpaceX was taking over his artificial intelligence company xAI. The move is part of the billionaire's plan to use SpaceX rockets to launch solar-powered, satellite-based data centers designed to develop and run future AI models. | BGNES