Overview
- SpaceX, which submitted a confidential draft to the SEC on Wednesday, took the first formal step toward going public as both the company and the regulator declined comment.
- Reports say the sale could raise about $50–75 billion and value the company at $1.5–$1.75 trillion, with newer discussions reported near $2 trillion that remain subject to change.
- The company has engaged Bank of America, Citigroup, Goldman Sachs, JPMorgan and Morgan Stanley, and is planning an April 21 analyst day ahead of a possible June–July offering window.
- Coverage expects Elon Musk to keep majority voting control after the debut, and a dual‑class share structure is under review to cement that control.
- Starlink is viewed as the core of the valuation, and going public would trigger detailed financial disclosures and could nudge other large AI firms to pursue listings.