SpaceX submits necessary documentation to go public

SpaceX, a company founded and led by Elon Musk, filed the necessary paperwork to go public with the Securities and Exchange Commission (SEC). The move puts an end to rumors about whether or not it would end up happening.

The filing was delivered confidentially, a source close to the matter told AFP.

The filing of the documentation is the start of the process for SpaceX to go public. The foreseeable date of its entry into the stock market is July.

According to information reported by AFP, the official public offering (IPO) could be around $75 billion.

If so, it would surpass the record set in 2019, when oil group Saudi Aramco raised $25.6 billion in its IPO.

SpaceX, which dominates the space launch market with its reusable rockets, is owned by Musk along with other investment funds and technology companies, including Alphabet (parent company of Google).

Its Falcon 9 rockets have significantly reduced the cost of placing satellites into orbit. It has also carried several crews to the International Space Station aboard its Crew Dragon capsule.

The company also owns Starlink satellites. In February, Musk announced that SpaceX was absorbing his artificial intelligence company, xAI, which put the value of the space company at $1.25 billion, according to several media outlets.

The company is currently developing a mega rocket called Starship, which has already completed several test flights but does not yet have a date for its first commercial flight. SpaceX is also working on developing in-space and solar-powered data centers.