The SpaceX emblem is showcased at a SpaceX site on April 2, 2026, in Hawthorne, California.Mario Tama/Getty Images
SpaceX, the rocket and satellite venture helmed by Elon Musk, officially requested an initial public offering (IPO) on Wednesday, setting the stage for what could be one of the year’s most eagerly awaited market debuts.
The IPO is intended to generate new capital for the Texas-based entity, which also oversees Musk’s aspirations in the rapidly advancing realm of artificial intelligence. This action will subject the privately owned company to heightened examination from both public shareholders and regulatory bodies, along with continuous financial reporting duties.
SpaceX is targeting a valuation of $1.75 trillion, potentially positioning it as the world’s ninth-largest enterprise based on market capitalization. Tesla, another entity guided by Musk, has a market capitalization of roughly $1.4 trillion, ranking it as the 10th-largest globally.
Established in 2002, SpaceX designs and manages spacecraft, including a multitude of satellites utilized to support its Starlink satellite internet service.
This past February, the Texas-rooted organization combined with xAI, an artificial intelligence firm also led by Musk, which features a chatbot rivaling OpenAI’s ChatGPT and Google’s Gemini.
CEO of SpaceX and Tesla, Elon Musk speaks during the World Economic Forum (WEF) annual meeting in Davos on January 22, 2026.Fabrice Coffrini/AFP via Getty Images
SpaceX promoted the merger as a crucial move toward realizing its strategy to introduce a series of "orbital data centers," essentially satellites crafted to provide computing capabilities, mirroring their earthbound counterparts, as stated on the company’s website.
The company characterized this project as a solution for the substantial energy requirements of AI infrastructure, which have placed pressure on the U.S. power grid and met with opposition from certain local communities.
Last December, Musk utilized his social platform X to confirm a report from the tech publication Ars Technica, which detailed SpaceX’s intentions for a 2026 IPO and its pursuit of a $1.75 trillion valuation. The article suggested that this action could enable SpaceX to gather tens of billions of dollars, thereby bolstering the company’s AI pursuits.
The IPO application occurs mere days after a federal court in San Francisco ruled against Musk in his litigation against OpenAI and its chief executive, Sam Altman.
Musk, a co-founder of OpenAI, had accused the company of deviating from its mission to benefit the public as it transitioned toward a for-profit model. Attorneys representing Altman contended that Musk’s motivations were driven by a desire to exert control over OpenAI.
The nine-member advisory panel concluded that the allegations against OpenAI and Altman were invalid due to the expiration of the statute of limitations. Judge Yvonne Gonzalez Rogers concurred with the finding and dismissed the claims.
In a message posted on X, Musk pledged to appeal the verdict, referring to it as a mere "technicality based on timing."
Sourse: abcnews.go.com