SpaceX registers to go public in blockbuster IPO, sources say

STORY: Elon Musk's SpaceX has confidentially filed for an initial public offering, setting the stage for what could become the largest stock market listing on record.

That's according to a person familiar with the matter who spoke to Reuters on Wednesday.

:: SpaceX

SpaceX could seek to raise more than $50 billion in the IPO, handily surpassing Saudi Aramco's public offering in 2019, which remains the largest IPO on record.

The filing comes after SpaceX absorbed Musk's artificial intelligence startup xAI. The deal valued the rocket company at $1 trillion and xAI, which developed the Grok chatbot, at $250 billion.

:: SpaceX

The public listing would potentially value SpaceX at $1.75 trillion, signaling that space exploration has moved from a speculative venture to a mainstream investment theme.

A blockbuster SpaceX debut could jolt the IPO market back to life after years of subdued activity.

:: SpaceX

Some investors could be drawn in simply by Musk's brand, while others may be seeking exposure to SpaceX's fast-growing space and satellite businesses.

:: Neuralink

Musk's sprawling business empire - unofficially dubbed the Muskonomy - includes Tesla, brain-chip maker Neuralink, tunnel-digging firm The Boring Company and social media platform X, which last year was folded into xAI.

Analysts say that questions regarding Musk's ability to oversee multiple companies with market values exceeding $1 trillion could temper investor enthusiasm in the IPO.

Meanwhile, several other high-profile startups, including ChatGPT maker OpenAI and rival Anthropic, are also said to be weighing large IPOs, setting up a broader test of investor appetite for new listings.