SpaceX Targets Nasdaq Debut as Early as December 12

SpaceX, the aerospace company led by Tesla CEO Elon Musk, is set to launch its initial public offering as early as December 12.

Reuters and CNBC reported Wednesday, citing multiple sources, that SpaceX plans to list on the Nasdaq on December 12, rather than on Musk's birthday of December 28. The company moved up the listing schedule because the U.S. Securities and Exchange Commission (SEC) reviewed its filing faster than expected. According to the reports, SpaceX will soon release its prospectus and hold an investor briefing on December 4. The company then plans to set the offering price on December 11 and list shares the following day.

SpaceX has drawn Wall Street's attention as the largest IPO candidate this year. In February, the company expanded its scale by merging with xAI, the developer of the artificial intelligence model "Grok." Major foreign media at the time estimated SpaceX's corporate value at $1.25 trillion (approximately 1,873 trillion won). Wall Street expects SpaceX to raise between $70 billion and $75 billion through the listing. If SpaceX raises funds as the market expects, it would far surpass the existing IPO fundraising record of $29 billion set by Saudi Arabian state-owned oil company Aramco in 2019.

SpaceX operates the satellite-based internet business "Starlink" and the large spacecraft Starship business, among others. The company has stated it will use the funds raised through the listing for Starship, AI data center construction, and lunar base construction projects. Wall Street, however, sees these as overly long-term projects and considers it likely that Musk will channel a substantial portion of the funds into xAI's Grok model. A successful IPO could instantly catapult SpaceX into the top 10 companies by market capitalization on the New York stock market.