Overview
- SpaceX, which filed confidential IPO papers with the SEC on Wednesday according to multiple outlets, is reported to be aiming to raise up to $75 billion at about a $1.75 trillion valuation.
- The filing follows February’s all‑stock merger with Elon Musk’s AI startup xAI, which sources said valued the combined company at roughly $1.25 trillion.
- Starlink is the main revenue driver, with reports citing about 9.2 million users and more than $10 billion in 2025 sales as SpaceX generated roughly $8 billion in profit on $15–$16 billion of revenue.
- An unusually large 21‑bank syndicate is in place, with Morgan Stanley, Goldman Sachs, JPMorgan, Bank of America and Citigroup named among the lead bookrunners.
- Reports say SpaceX may adopt a dual‑class share structure and could allocate up to 30% of shares to retail investors, and a public prospectus must be released at least 15 days before any roadshow.