SpaceX seeks Wall Street listing as Starlink and AI ambitions expand

Reports estimate the company is looking to raise up to $80bn, with targets pointing to a valuation between $1.25tn and $1.75tn.

SpaceX has formally unveiled plans to go public in the United States in what is expected to become the largest stock market debut in Wall Street history, a move that could push founder Elon Musk into the ranks of the world's first trillionaires.

The aerospace and technology company has filed for an initial public offering on the Nasdaq exchange under the ticker symbol "SPCX", with the listing expected to take place as early as next month. Reports indicate the offering could raise between $75bn and $80bn, surpassing the previous IPO record set by Saudi oil giant Saudi Aramco in 2019.

Long regarded as one of the world's most valuable private companies, SpaceX has rapidly expanded beyond rocket launches into satellite communications, artificial intelligence and data infrastructure. The company operates the Starlink satellite broadband network and earlier this year absorbed Musk's AI startup xAI into the broader SpaceX group.

The company's latest filings value the business at between $1.25tn and $1.75tn, though some reports suggest advisers are targeting a valuation above $2 trillion during investor roadshows.

Musk, who also leads electric vehicle manufacturer Tesla, is expected to retain more than 85% voting control in SpaceX through a dual-class share structure. Analysts estimate his stake in the company alone could be worth over $600bn following the flotation. Combined with his holdings in Tesla and other ventures, the IPO could lift his net worth above the $1tn mark.

The listing marks a significant shift for Musk, who for years maintained that SpaceX would remain private until the company achieved its long-term ambition of sending humans to Mars. However, the enormous capital requirements linked to artificial intelligence, satellite networks and next-generation space infrastructure appear to have accelerated plans for a public offering.

Financial disclosures released alongside the IPO filing revealed that SpaceX generated approximately $18.7bn in revenue in 2025, driven largely by Starlink, which accounted for more than half of total sales. Despite the strong growth, the company reported a net loss of nearly $4.9bn due to heavy investments in AI computing infrastructure, satellite expansion and data-centre development.

The filings also outlined SpaceX's increasingly ambitious plans, including orbital data centres, space-based AI infrastructure, asteroid mining projects and long-term Mars colonisation initiatives.

The IPO is expected to attract enormous interest from both institutional and retail investors, with market observers predicting it could reshape technology and aerospace investing in the same way landmark listings by Meta Platforms and Alibaba Group did in previous decades.