SpaceX is gearing up to confidentially submit paperwork for an initial public offering (IPO) in the coming month, potentially making it the largest IPO ever. Elon Musk’s space exploration company is on the brink of a groundbreaking financial move.

Based in Starbase, Texas, SpaceX is anticipated to file a draft registration with the US Securities and Exchange Commission in March, paving the way for a potential listing in June. By keeping the filing confidential, SpaceX can navigate regulatory requirements before revealing financial specifics to the public.

Reports suggest that SpaceX is eyeing a valuation that could exceed $1.75 trillion in the IPO. This is a significant jump from previous private market estimations, which valued the company at under $1 trillion. Following the acquisition of Musk’s AI startup xAI in February, SpaceX’s value rose to near $1.25 trillion. Subsequent market discussions pushed expectations to $1.5 trillion before settling around $1.75 trillion.

If SpaceX reaches this valuation, it would rank among the top five most valuable public companies globally, trailing only industry giants like Nvidia, Apple, Microsoft, Alphabet, and Amazon. It would also surpass Meta and Tesla in terms of market capitalization.

The IPO could potentially raise up to $50 billion, surpassing Saudi Aramco’s record-setting $29 billion debut in 2019. SpaceX has enlisted Bank of America, Goldman Sachs, JPMorgan, and Morgan Stanley for key roles in the offering.

The funds raised from the IPO are expected to fuel SpaceX’s ambitious expansion plans, including increasing the frequency of Starship launches, establishing AI data centers in space, and advancing lunar base initiatives.

SpaceX’s dominance in orbital launches through Falcon 9 and its Starlink satellite network, which serves millions of customers worldwide, has garnered significant investor interest. Following the news, EchoStar, a company with a stake in SpaceX from previous spectrum transactions, saw a notable increase in its share value.