SpaceX, Elon Musk’s rocket company that merged earlier this year with artificial intelligence company xAI, confidentially filed plans for an initial public offering Wednesday in what might be the largest of all time, according to multiple reports.
The filing was reported by Bloomberg, the Wall Street Journal and Reuters, citing unnamed sources familiar with the matter. Neither SpaceX nor the Securities and Exchange Commission immediately responded to a request for confirmation.
How much SpaceX plans to raise through a sale of some of its shares are not yet available due to the confidential nature of the filing.
But CEO and principal shareholder Elon Musk is expected to control a majority of voting shares once the details are revealed. And it could make Musk, already the world’s richest person, that much richer.
SpaceX was valued at $800 billion and xAI $230 billion at their most recent funding round in January according to PitchBook, a research firm that tracks the valuation of private companies. That puts the combined companies’ worth at more than $1 trillion.
This first public stock sale could push the company’s value even higher as investors look to profit from both a dominant company in the business of space travel as well as a major player in the rapidly growing field of artificial intelligence.
The filing comes the same day that NASA is set to launch its first crewed mission to the moon since the Apollo program.
This is a developing story. It will be updated.
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