SpaceX Opens Door for International Banks in Historic IPO

SpaceX, the rocket and satellite company owned by Elon Musk, has begun meeting with non-U.S. banks to participate in its much-anticipated initial public offering (IPO), targeting a record-breaking listing later this year.

According to people familiar with the matter, SpaceX held separate meetings in mid-January at its California headquarters, inviting European and other international banks to secure secondary roles in the IPO. These discussions preceded the company’s recent acquisition of Musk’s AI firm xAI, which will be included in the listing.

The company has already selected four major U.S. banks, Bank of America, Goldman Sachs, JPMorgan Chase, and Morgan Stanley, to lead the offering. However, no final decisions have been made, and details of the IPO remain subject to change.

If executed as planned, the IPO could raise up to $50 billion, making it the largest public offering in history. By comparison, Alibaba’s 2014 New York IPO raised $25 billion with 35 global banks acting as underwriters.

The combined valuation of SpaceX and xAI is expected to reach around $1.25 trillion, with SpaceX valued at $1 trillion and xAI at $250 billion. SpaceX also plans to allocate a significant portion of shares to retail investors, with Robinhood Markets expected to play a central role in distributing the stock.

Investor enthusiasm is already high, fueled by Musk’s large following and the potential for retail shareholders, especially Tesla investors, to secure priority access to SpaceX shares.

The IPO will mark the first time the world’s largest private company enters public markets, solidifying SpaceX’s position at the forefront of both space exploration and artificial intelligence.