SpaceX is rumored to have secretly filed for an IPO as early as March, with a target valuation of over $1.75 trillion.

The latest market rumors suggest that the world's richest person, Elon Musk's private space company SpaceX, is considering secretly submitting its first public offering (IPO) documents as early as March. As the most certain of the three potential IPOs this year (SpaceX, OpenAI, Anthropic), this move will keep pace with its goal of completing the IPO in June. By submitting the documents secretly, the company planning to go public can obtain feedback from regulators and make modifications before the prospectus is made public. According to sources, SpaceX may seek a valuation of "over $1.75 trillion" in the IPO. Based on current market conditions at the time of writing, this would mean that SpaceX could surpass Meta and Saudi Aramco, ranking 7th in the world in terms of market value. Earlier reports showed that in early February, the overall valuation of the new entity after SpaceX's acquisition of xAI was $1.25 trillion. Sources say that the relevant considerations are still ongoing, and specific details are subject to change, so SpaceX may still postpone the submission of the prospectus. Consistent with previous reports, sources say that SpaceX's IPO fundraising could reach as high as $500 billion. This would significantly surpass the current world record set by Saudi Aramco in 2019 at $290 billion. SpaceX has stated in a memorandum that the fundraising purposes include providing "crazy launch frequency" for the Starship rocket, establishing artificial intelligence data centers in space, and building a moon base. If everything goes as planned, Morgan Stanley, closely related to Musk, along with top Wall Street banks JPMorgan, Goldman Sachs, and Bank of America, are likely to act as the main underwriters for SpaceX's listing. SpaceX may adopt a dual-class share structure, giving insiders like Musk more voting rights.