"SpaceX is planning to raise tens of billions of dollars through an initial public offering next year, multiple outlets have reported, and Ars can confirm. This represents a major change in thinking from the world's leading space company and its founder, Elon Musk. The Wall Street Journal and The Information first reported about a possible IPO last Friday, and Bloomberg followed that up on Tuesday evening with a report suggesting the company would target a $1.5 trillion valuation."
"This is an enormous amount of funding. The largest IPO in history occurred in 2019, when the state-owned Saudi Arabian oil company began public trading as Aramco and raised $29 billion. In terms of revenue, Aramco is a top-five company in the world. Now SpaceX is poised to potentially match or exceed this value. That SpaceX would be attractive to public investors is not a surprise-it's the world's dominant space company in launch, space-based communications, and much more."
SpaceX plans an IPO next year targeting a $1.5 trillion valuation and potentially raising more than $30 billion. That amount would rival or exceed the largest IPO, Saudi Aramco's $29 billion. SpaceX leads in launch services and space-based communications, with Starlink revenue surging. Musk previously resisted taking SpaceX public because of public scrutiny and concerns that shareholder returns could conflict with a goal of settling Mars. The rise of artificial intelligence has increased demand for assets. Musk cofounded OpenAI in 2015, later left and started xAI in 2023, and is advancing AI efforts at Tesla.
Read at Ars Technica
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