SAN FRANCISCO — Elon Musk’s SpaceX is weighing a mid-June initial public offering timed to coincide with a rare planetary alignment and the billionaire’s 55th birthday, according to five people familiar with the matter who spoke to the Financial Times. The rocket and satellite company aims to raise up to $50 billion at a valuation of approximately $1.5 trillion, which would make it the largest IPO in history by deal size.
The company is targeting mid-June when Jupiter and Venus will appear within roughly 1.6 degrees of each other in the sky—about the width of a thumb held at arm’s length—for the first time in more than three years. On June 8 and 9, the two brightest planets will align in what astronomers call a conjunction, visible low in the west-northwest sky about 45 minutes after sunset. Musk’s 55th birthday on June 28 was also a significant factor in the timing decision, sources said.
Wall Street Giants Lined Up
SpaceX has selected Bank of America, Goldman Sachs, JPMorgan Chase, and Morgan Stanley for lead roles in the blockbuster deal, the Financial Times reported last week. Morgan Stanley is seen as a frontrunner for the coveted “lead left” position, a role that typically commands the highest fees and greatest influence over deal terms. The bank’s relationship with Musk dates back at least 15 years, giving it a competitive edge, according to people briefed on the discussions.
Chief Financial Officer Bret Johnsen has been conducting discussions with existing private investors since mid-December to explore the offering. In a December 12 letter to shareholders reviewed by Reuters, Johnsen said the company is “preparing for a possible IPO in 2026,” though he cautioned that “whether it actually happens, when it happens, and at what valuation are still highly uncertain.”
Record-Breaking Ambitions
If successful, the IPO would dwarf Saudi Aramco’s $29.4 billion listing in December 2019, which currently holds the record for largest IPO by capital raised. Aramco’s offering valued the state-owned oil giant at $1.7 trillion at the time, making it the only completed IPO to achieve a valuation exceeding $1 trillion.
SpaceX’s reported fundraising target of $50 billion doubles prior estimates, positioning it as both the largest IPO by deal size and potentially one of the most valuable public debuts ever recorded. The company conducted a secondary share sale in December 2025 that valued it at $800 billion, nearly double its $400 billion valuation from earlier that year.
Musk’s Pattern of Symbolic Timing
The choice of timing would be surreal for most companies, but Musk has a documented history of leaning into symbolism in business decisions. In August 2018, he tweeted about taking Tesla private at $420 per share, a price widely interpreted as a reference to April 20, a date celebrated by cannabis enthusiasts. When questioned under oath in January 2023, Musk told jurors that “420 was not chosen because of a joke,” though he acknowledged “there was some karma around 420.”
His decision to rename Twitter to X following his 2022 acquisition was seen as a homage to X.com, the online payment company he founded in 1999 that eventually merged with Confinity to become PayPal.
AI Data Centers in Space
SpaceX has told investors it is developing technology to deploy artificial intelligence data centers in space, connected by its network of approximately 9,400 Starlink satellites. In his December letter, Johnsen said the company aims to use capital raised to “ramp Starship’s flight rate, deploy AI data centers in space, build Moonbase Alpha, and send uncrewed and crewed missions to Mars.”
The orbital data center concept would leverage Starlink Version 3 satellites, each capable of downloading 1 terabyte per second and uploading 160-200 gigabytes per second. With plans to deploy approximately 30,000 Version 3 satellites, the constellation could provide compute power comparable to major terrestrial AI centers operated by Google, Amazon, and OpenAI, according to technical analyses.
Musk believes this space-based computing infrastructure is essential for competing in artificial intelligence against rivals such as Google and OpenAI. SpaceX currently has relatively limited compute capacity compared to major AI players, though it can rent processing time from Tesla and xAI.
Market Conditions Remain Critical
Any IPO would hinge on market conditions and investor sentiment, which have grown increasingly volatile amid tariff threats and federal interest-rate decisions, sources cautioned. Financial analysts point out that a June target may be unrealistically tight, noting there may not be enough time to file a registration statement with the Securities and Exchange Commission and conduct a global roadshow for institutional investors.
Despite Musk’s long-standing preference for keeping SpaceX private, people familiar with his thinking indicate the company’s growing valuation and the success of its Starlink satellite-internet service have prompted a strategic shift. Global financial markets are bracing for a year of potentially mega US listings, led by SpaceX, with AI firms Anthropic and OpenAI also laying early groundwork for potential IPOs.
A rebound in US equity capital market activity began in 2025 after three years of limited activity, partially as the result of ongoing volatility and geopolitical tensions. Space technology is a tightly held sector but is sought after by investors keen for exposure in light of rapid development prospects, analysts have said.
SpaceX declined to comment on the matter when contacted by multiple news organizations.
