Elon Musk's SpaceX has reportedly made a confidential filing with the U.S. Securities and Exchange Commission (SEC) for an initial public offering (IPO), marking a significant step toward becoming a publicly traded company. According to reports from Bloomberg, Reuters, and the New York Times, SpaceX aims to officially go public sometime in June.

Once public, SpaceX's valuation is expected to surpass $1 trillion, positioning it among the world's most valuable companies. Musk's personal stake in SpaceX could make him the world's first trillionaire. The company is seeking to raise $50 billion or more through the public offering.

Earlier this year, SpaceX absorbed Musk's artificial intelligence venture, xAI, in an all-stock merger that reportedly boosted its internal valuation to $1.25 trillion. Emily Zheng, a senior analyst at Pitchbook, noted that by bringing xAI under SpaceX, Musk could demonstrate to potential investors his ability to consolidate costs and share resources across his companies.

SpaceX's ambitious projects, including plans to place AI data centers in space and build a self-sustaining city on Mars, require massive capital infusion that a public offering can provide. Zheng added that the company is racing to keep up with the "sheer cost of compute, infrastructure, and energy" needed for expansion.

Musk's other companies, Tesla and xAI, are increasingly intertwined with SpaceX. The three firms are set to collaborate on Terafab, a chipmaking endeavor announced by Musk last month. Musk claimed in a March presentation that "Tesla, xAI and SpaceX have all done amazing things that people did not think could be done before."

Founded in 2002 with the goal of reducing space launch costs through reusable rockets, SpaceX secured its first contract with NASA in 2006. Today, the company's core operations focus on rocket launches and managing the Starlink satellite network, which provides global internet connectivity.

Source: www.bbc.com