Tesla and SpaceX CEO Elon Musk attends a state dinner between President Donald Trump and Chinese President Xi Jinping at the Great Hall of the People in Beijing on May 14, 2026.
Brendan Smialowski AFP | Getty Images
SpaceX, which secretly filed for an IPO in April, plans to release its prospectus as soon as next week, according to people familiar with the matter, as Elon Musk’s reusable rocket company approaches what is expected to be a record-breaking stock sale.
The company aims to begin a roadshow to formally pitch the deal to investors on June 8, said the people, who requested anonymity due to the quiet period ahead of the listing process. Applications must be disclosed at least 15 calendar days before the roadshow begins, but SpaceX and its advisers are aiming for an earlier turnaround to give investors time to digest the numbers, the people said, adding that the timing could still change.
SpaceX did not respond to a request for comment.
The IPO is expected to be the largest since SpaceX merged with Musk’s artificial intelligence company xAI in February, valuing the combined company at $1.25 trillion. Citing people familiar with the matter, Bloomberg reported that the company is targeting a listing size of about $70 billion to $75 billion, far more than double Saudi Aramco’s record size in 2019.
Because so many shares have never been sold in an IPO before, SpaceX advisers are exploring unique channels, especially to what they believe to be long-term retail holders outside the United States, two people said. This includes scouting brokers in countries such as the U.K., Japan and Canada to secure quotas for clients, one of the people said.
Wall Street is hungry for IPOs after years of drought, and investors are especially excited about those related to AI trading. cerebrumThe AI chip maker soared 68% in its opening price on Thursday, closing with a market capitalization of about $95 billion. AI modeling giants OpenAI and Anthropic are also aiming to deliver products whose valuations could exceed $1 trillion as early as this year.
SpaceX’s application could come around the time of the next-generation Starship rocket’s 12th test flight. The company previously said it was targeting May 19th.
—CNBC’s Lora Kolodny contributed to this report.
Watch: Market awaits upcoming IPOs by SpaceX, OpenAI, Anthropic
