SpaceX pursues confidential IPO in March following xAI merger, aiming for a $1.75T valuation

Elon Musk’s space exploration giant, SpaceX, is reportedly preparing to take the next step toward going public with one of the most anticipated IPOs in history. Following its recent merger with Musk's artificial intelligence startup, xAI, the company is said to be targeting a staggering $1.75 trillion valuation.

Quiet Filing to Test the Waters

According to reports from Bloomberg, SpaceX plans to submit draft paperwork to the U.S. Securities and Exchange Commission in March under a confidential filing. This strategic move would allow the company to review regulatory feedback and tweak its filing before making its financial details public. Sources familiar with the matter have cautioned that timelines remain fluid, and no final decisions have been made.

If the IPO proceeds as planned, the public listing could happen as early as June. At its projected $1.75 trillion valuation, the SpaceX offering would far surpass Saudi Aramco’s $29 billion debut in 2019, which currently holds the record for the largest IPO in history.

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xAI Merger and Valuation Surge

The company's proposed valuation follows its recent acquisition of xAI, Musk’s artificial intelligence venture. The merger reportedly valued the combined entity at $1.25 trillion earlier this month, setting the stage for what could become one of the largest tech IPOs ever undertaken.

Major financial institutions, including Bank of America, Goldman Sachs, JPMorgan Chase, and Morgan Stanley, are said to be working on the deal. The company is also weighing the possibility of a dual-class share structure, a move that would give Musk and other key insiders enhanced voting control despite owning a smaller percentage of shares.

Investors Show Early Interest

Speculation about the IPO has already sparked significant interest among traders. Prediction platforms are buzzing with activity, reflecting investor anticipation. Kalshi, a regulated U.S.-based prediction market, shows traders assigning a 47% chance that SpaceX will announce its IPO before June 1. Meanwhile, Polymarket, powered by blockchain technology, has traders betting on the company's potential to close its IPO at a valuation exceeding $2 trillion, with odds above 40%.

Although prediction markets are not definitive indicators, they reveal the high levels of enthusiasm surrounding what could be a record-breaking market debut.

A Pivotal Year for Tech IPOs

The possible SpaceX IPO would add to a broader wave of excitement in the tech sector, with reports indicating that other major players, such as OpenAI and Anthropic, may also explore going public. If these listings materialize, 2026 could become a landmark year for technology IPOs, rivaling some of the industry’s most significant milestones in recent memory.

With its bold ambitions and the momentum from its xAI merger, SpaceX is poised to make history. However, the journey to its public debut remains uncertain, as the confidential filing process allows for quiet adjustments during this critical pre-launch phase. Investors and industry observers will be watching closely in the months ahead.

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