SpaceX Targets Record-Breaking $1.75 Trillion Valuation in Confidential IPO Move

New updates have been reported about SpaceX.

SpaceX has reportedly submitted a confidential draft registration to the U.S. Securities and Exchange Commission for an initial public offering that could value the company at about $1.75 trillion, positioning it as one of the most highly valued businesses ever to approach public markets. The offering, internally dubbed “Project Apex,” would involve 21 underwriting banks and aims to raise roughly $75 billion, which would surpass the $29 billion IPO of Saudi Aramco and mark the largest equity listing in history.

The contemplated IPO comes as SpaceX ramps investment in Starship, its fully reusable heavy-lift launch system, and in its Starlink broadband network, now comprising about 10,000 satellites that will require continual replenishment and additional spectrum rights. The group has also expanded into artificial intelligence and social media through its February acquisition of Elon Musk’s xAI at a $1.25 trillion valuation and its inclusion of X, moves that significantly increase compute and capital needs and shift SpaceX into a broader tech conglomerate profile. Musk, who previously said SpaceX would not go public before reaching Mars, now appears to be recalibrating around nearer-term lunar ambitions and a plan to deploy up to one million data-center-class satellites, underscoring why tapping the public markets may be critical to funding growth, maintaining technological lead in space infrastructure, and supporting NASA’s timeline to outpace China in lunar exploration.