April 2, 2026 10:16 am EST Brandon Bell/Getty Images SpaceX, the rocket and satellite company founded by Elon Musk, reportedly no longer wants to be the world's most valuable private company, because it has confidentially filed to become a public company instead. This is the first step towards leading the space juggernaut to an IPO, which is currently expected to be one of the largest in history, if not the largest. This would give both institutional and retail investors access to an enterprise that launched a rocket every other day in 2025 and has put 10,000 Starlink satellites into orbit. And because Musk recently folded his xAI business into SpaceX, after folding his X social media platform into xAI (the man really loves that letter), this offering would also give investors access to the AI boom and/or bubble. Bloomberg broke the story, citing anonymous sources. The outlet believes this puts SpaceX on track for an IPO in June, with a potential valuation of $1.75 trillion. That is a very specific number: it is just over the valuation of the previous record-holder, which was $1.7 trillion for Saudi Aramco back in 2019. For what it's worth, when Musk brought xAI into the space company, that maneuver valued the company at "only" $1.25 trillion. Peasant money! In terms of how much money the offering could raise, the New York Times cites Musk as hoping for $50 billion, whereas Bloomberg suspects it may be closer to $75 billion. For reference, the Aramco offering raised "only" $29 billion. Barely enough to buy groceries these days! An entire army of banks are apparently shepherding the IPO, including Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley, and many others. Surprising no one, the stocks will likely be dual-class, meaning Musk's stocks will have voting privileges beyond whatever stocks you can buy. In other words, this is a fundraising move; Musk will not be ceding any actual control. Bloomberg believes as much as 30% of the IPO will be available to retail investors (i.e., you). The state of the rocket (and AI) business