Elon Musk’s SpaceX is preparing for what could be a record-breaking initial public offering (IPO), with plans to go public as early as June and a potential valuation of $1.75 trillion. According to a report from Bloomberg, SpaceX has confidentially filed paperwork with the U.S. Securities and Exchange Commission (SEC), making it one of the most anticipated public offerings in recent years.

The company’s IPO is set to stand out not only for its size, but also for its approach to retail investors. As noted by Evalueserve, up to 30% of shares could be allocated to individual investors, a significant increase from the typical 5%–10% allocation seen in most large IPOs. This move could broaden SpaceX’s shareholder base and increase trading activity once the stock is listed.

The offering is expected to raise around $75 billion, more than doubling the current record set by Saudi Aramco’s $25.6 billion IPO in 2019. Major banks including Bank of America, Morgan Stanley, UBS, and Citigroup are leading the transaction. According to Reuters, SpaceX is targeting an early June listing, with investor roadshows planned to build excitement and gauge demand.

SpaceX’s rapid valuation growth has been fueled by its reusable-rocket technology, a record 165 orbital launches in 2025, and strong U.S. government contracts totaling more than $24 billion since 2008. The company’s Starlink satellite internet business, supported by a network of around 10,000 satellites, provides recurring revenue that appeals to public markets. The recent all-stock merger with xAI, valued at $1.25 trillion, further boosts SpaceX’s scale and positions the company as a leader in both aerospace and artificial intelligence.

While some investors are optimistic, viewing the IPO as a rare chance to invest in a category-defining space infrastructure company, others are cautious due to the high valuation and the potential for volatility in the market, especially if enthusiasm for AI-driven companies cools. The IPO’s outcome is likely to influence upcoming mega-listings from other technology firms like OpenAI and Anthropic.

If successful, SpaceX’s IPO would not only set new records for capital raised, but also provide a significant test for investor appetite in large-scale, high-ambition technology offerings. The company’s performance in the public markets will be closely watched by Wall Street and technology investors worldwide.