SpaceX Eyes Public Market After xAI Acquisition

Elon Musk’s SpaceX has confidentially submitted paperwork for a U.S. initial public offering, according to a source familiar with the matter. The filing was made on Wednesday, April 1, 2026, and signals that the rocket and satellite internet company is preparing for a public-market debut. Officials have not publicly detailed the timing or final terms.

The move comes after SpaceX merged with Musk’s artificial intelligence startup xAI. The merger valued SpaceX at $1 trillion and xAI at $250 billion, according to the same account. xAI is described as the developer of the Grok chatbot.

People familiar with the planning said SpaceX is organizing a series of investor-facing events ahead of the offering. The company is planning an analyst day on April 21. It has also scheduled an optional visit to xAI’s “Macrohard” data center in Memphis, Tennessee, on April 23, followed by a virtual session on May 4 focused on financial model discussions with banks.

According to the source, SpaceX is targeting proceeds of more than $50 billion in the IPO. The same person said the listing could value SpaceX at over $1.75 trillion, which would position it for what could become the largest stock market listing on record. If achieved, that fundraising level would potentially exceed Saudi Aramco’s 2019 listing, which has been widely cited as the biggest IPO to date.

SpaceX’s expansion has been attributed to two core businesses highlighted by the source: reusable rockets and the Starlink satellite internet network. The company’s launch operations and satellite connectivity business have been central to its growth narrative, and the planned analyst engagement suggests SpaceX is preparing to present detailed assumptions to banks and institutional investors.

Beyond the company itself, the filing is being watched as a potential catalyst for broader capital-markets activity. A successful debut could help lift sentiment in the IPO market, which has seen subdued activity in recent years, according to the source. However, key uncertainties remain, including the final valuation, the ultimate amount raised, and the timetable for moving from a confidential filing to a public roadshow and listing.