Elon Musk’s SpaceX has reportedly filed confidentially for an initial public offering, a move that could lead to one of the largest listings in US market history. According to a report from Bloomberg, the aerospace company submitted its IPO application to the US Securities and Exchange Commission. The IPO could be finalized as early as June, with sources indicating that SpaceX may seek a valuation exceeding $1.75 trillion. This valuation would position SpaceX as one of the largest public companies in the US, surpassing several major tech firms at current market values. The potential IPO follows SpaceX’s acquisition of Musk’s AI startup xAI in early February, intensifying its competition with other private AI startups like OpenAI and Anthropic. OpenAI, the creator of ChatGPT, recently closed its last funding round with $122 billion in committed capital, valuing the company at $852 billion. SpaceX is also considering a dual-class share structure, which would grant insiders, including Musk, greater voting control. The IPO is expected to allocate up to 30% of shares for individual investors, with major Wall Street firms such as Bank of America, Goldman Sachs, JPMorgan Chase, Morgan Stanley, and Citigroup likely to be involved in the transition to a public company. Additionally, SpaceX continues to hold 8,285 Bitcoin on its balance sheet, valued at over $565 million. The company shifted its Bitcoin holdings to a new wallet address in October, sparking speculation about its long-term intentions regarding the cryptocurrency. The potential IPO could raise up to $75 billion, surpassing the $29 billion raised by Saudi Aramco in 2019, which was the largest IPO at the time. This move could significantly impact the tech and broader stock markets, potentially causing a major repricing of tech valuations and affecting investor sentiment toward high-growth companies.
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