Musk’s SpaceX looking to raise US$75bil in June IPO

2026-03-25 - 03:41

SpaceX was valued at US$1.25 trillion in early February, when it merged with artificial intelligence unit xAI. NEW YORK: SpaceX, the company founded by tech billionaire Elon Musk, will soon file for an initial public share offering in June that could raise a whopping US$75 billion for his extraterrestrial ambitions, a report said Tuesday. Citing a person with knowledge of the plan, tech news site The Information said the IPO prospectus would be filed with security regulators this week or next for the long-expected operation. SpaceX, which is also developing a spacecraft for reaching Mars, was valued at US$1.25 trillion in early February, when it merged with Musk’s artificial intelligence unit xAI. In recent months, analysts had expected Musk would seek to raise US$30 billion to US$50 billion given the red-hot investor demand for technology firms. The IPO looks set to blow past the biggest public offering on record from 2019, when the oil group Saudi Aramco raised US$25.6 billion. The company did not immediately respond to an AFP request for comment. SpaceX, which dominates the space launch market with its reusable rockets, is owned by Musk alongside several investment funds and tech companies including Google’s parent Alphabet. Analysts have said that taking SpaceX public will require it and Musk to maintain greater transparency, particularly about its revenues, and could increase pressure to deliver profits.