space exploration technology corp. It’s moving forward with an internal stock sale that could value Elon Musk’s rocket and satellite maker at about $800 billion in what could be the largest initial public offering ever.
In company information seen by Bloomberg on Friday, SpaceX said it is preparing for a possible public offering in 2026 to fund the “insane speed” of the Starship rocket, space-based artificial intelligence data center and lunar base it is developing.
Chief Financial Officer Bret Johnsen said in a memo to shareholders that the latest secondary offering was priced at $421 per share, nearly double the $212 per share. Scheduled for July The valuation is US$400 billion.
This valuation surpasses the $500 billion record set by ChatGPT owner OpenAI in October, making SpaceX once again the world’s most valuable minority-owned company.
If Musk decides to go ahead with an IPO, it will be another high-profile venture for him, but it will depend on a series of ambitious and risky plans that SpaceX has to achieve in the coming years.
Subscribe now: space business The newsletter provides the inside story on investing beyond Earth, from satellite networks to the moon landing.
SpaceX is moving forward with plans for an IPO that would seek to raise more than $30 billion, Bloomberg reported earlier this week, which would make it the largest listing ever.
The Musk-led company is targeting a valuation of the entire company of about $1.5 trillion, which would give SpaceX a market capitalization close to Saudi Aramco Established during the record listing period in 2019.
Read more: SpaceX’s high IPO valuation hinges on big bets on outsized growth
The timing of the IPO and corresponding valuation are uncertain and the company could decide not to move forward, Johnson said in an email.
Representatives for SpaceX, formally known as SpaceX, did not respond to requests for comment.
The company conducts two tender offers a year to give shareholders, including employees, the chance to cash out or buy more shares. In this case, SpaceX has set a fair market valuation in the lead-up to next year’s IPO.
Read more: SpaceX IPO plan will list $2.9 trillion
The world’s most prolific rocket launcher, SpaceX dominates the aerospace industry with its Falcon 9 rockets, which carry satellites and people into orbit.
SpaceX is also the industry leader in providing internet service from low Earth orbit through Starlink, a system of thousands of satellites serving millions of customers.