SpaceX Seeks $75 Billion in Record IPO Plan to Fund AI, Launch
SpaceX is seeking to raise $75 billion in an initial public offering, which would be the largest IPO ever and could pave the way for other major listings.
The Starbase, Texas-based company plans to sell about 555.6 million shares at $135 each, according to a filing Wednesday with the U.S. Securities and Exchange Commission. At that price, SpaceX would be valued at nearly $1.77 trillion based on the outstanding shares in the filing.
The $75 billion offering would surpass Saudi Aramco’s record $29.4 billion IPO in 2019 and could open the door for OpenAI and Anthropic PBC to pursue their own multibillion-dollar listings, potentially as soon as this year.
SpaceX said it will use the proceeds to expand its AI, rocket launch and satellite businesses. The filing also shows the company must use proceeds from certain debt financings and the IPO to repay at least part of a $20 billion bridge loan within six months. Much of that loan was used to refinance high-interest debt tied to Elon Musk’s social media and AI companies.
The IPO could price as soon as June 11. SpaceX is expected to begin formally marketing the offering Thursday, pitching investors on plans for orbital AI computing, direct-to-cell wireless service, AI semiconductor production with Tesla, and eventually lunar bases and a Mars colony.
The filing also disclosed a contract with Anthropic worth $1.25 billion per month for AI computing services, though either side can cancel with 90 days’ notice.
Musk is expected to retain control, holding 84.4% voting power after the IPO through Class B shares with 10 votes each. His stake gives him the ability to elect 51% of the board and effectively prevents his removal against his will. Critics have argued the structure grants Musk excessive control and weakens shareholder protections.
SpaceX pioneered reusable rockets and built Starlink into its largest revenue business. It is pitching investors on a $28.5 trillion addressable market, largely tied to AI infrastructure, including the future possibility of space-based data centers.
Goldman Sachs, Morgan Stanley, Bank of America, Citigroup and JPMorgan are leading the deal. SpaceX plans to list on Nasdaq and Nasdaq Texas under the ticker SPCX.
