Overview
- SpaceX, which filed confidentially with the SEC on Wednesday, is preparing a June stock market debut in what several outlets say could be the biggest listing ever.
- Reports indicate the company is seeking to raise roughly $50 billion to $75 billion at a valuation near $1.75 trillion, surpassing Saudi Aramco’s record by deal size if achieved.
- An unusually broad syndicate of 21 banks is lined up, with Morgan Stanley, Goldman Sachs, JPMorgan, Bank of America, and Citigroup in lead roles as investor briefings kick off in April.
- The offering will bundle SpaceX’s launch business and Starlink with Elon Musk’s recently folded‑in xAI, following Reuters’ reports of about $15–$16 billion in 2025 revenue, roughly $8 billion in EBITDA, and more than 9 million Starlink users.
- Coverage notes two market wild cards: a retail allocation reportedly as high as 30% that could widen small‑investor access, and a possible fast entry into the Nasdaq‑100 that may force big ETFs like QQQ to buy the shares.