The biggest IPO in history is coming! SpaceX confirms the listing "target date": June 12

SpaceX Accelerates Toward Going Public, Aiming for the Largest IPO in History

On Friday local time, The Wall Street Journal, citing sources familiar with the matter, reported that Elon Musk’s rocket company SpaceX plans to officially go public on June 12th, with an expected fundraising scale of up to $80 billion or more, listing on NASDAQ. If the plan proceeds smoothly, this will become the largest IPO in global capital markets ever.

The proceeds from this round of financing will mainly be used to promote large-scale launches of the “Starship” project and to build and deploy a data center network in near-Earth orbit.

According to Reuters, citing sources, SpaceX has significantly advanced its original schedule—**originally planned to complete the listing process in late June (around Musk’s birthday)—**and has now adjusted to file the prospectus as early as next Wednesday, with roadshows starting on June 4th, and officially listing on June 12th.

Schedule moved up, prospectus disclosure imminent

Reports indicate that previously, advisory teams expected SpaceX to go public around June 17th, but the timeline has recently been moved forward. If the June 12th listing target is maintained, SpaceX must submit its IPO application documents by mid-next week at the latest.

Investors are highly focused on the contents of the prospectus. The documents will cover financial statements, details of SpaceX’s various business segments—including the recently added xAI artificial intelligence business—and core information such as the company’s equity structure.

According to earlier media reports, SpaceX favors listing on NASDAQ, partly because the company wants to be included in the NASDAQ-100 index as soon as possible.

A major highlight of this IPO is that SpaceX has included Musk’s artificial intelligence company xAI into its business portfolio. The prospectus will be the first to disclose financial details related to this business to the public, providing an important reference for investors to assess SpaceX’s overall valuation.

Sources warn that the above schedule remains subject to change, and the final listing date could be adjusted.

Stock split lowers subscription threshold, Musk says he will not sell

According to the latest report from Bloomberg, SpaceX has notified shareholders via email that the company will implement a 5-for-1 stock split.

The fair value per share will be adjusted from $526.59 to approximately $105.32. The split will be processed during the week of May 18th, with completion expected by May 22nd. SpaceX representatives did not comment on this.

The stock split itself does not change the company’s total market value, but it will significantly lower the price per share, helping to improve market accessibility for the IPO and attract more retail and institutional investors.

Amid high public attention on whether the founder will sell shares, Musk explicitly stated on X (formerly Twitter) that he will not sell any SpaceX stock. This statement provides a direct reference for assessing potential selling pressure in this IPO and also addresses concerns about major shareholders cashing out.

Large IPO wave, impacting US stock liquidity?

SpaceX’s listing plan coincides with a period of high IPO market sentiment.

NVIDIA challenger and AI chip giant Cerebras Systems completed a highly anticipated IPO this week, raising about $5.6 billion, with its stock price rising 68% on the first trading day Thursday, highlighting strong investor demand for AI-related stocks.

If SpaceX’s IPO succeeds, the fundraising scale will far surpass Cerebras and set a new global IPO record, marking a landmark event in the market.

Regarding concerns that a “large IPO wave” might impact US stock liquidity, Goldman Sachs trading head Tony Pasquariello believes the market is fully capable of absorbing it.

He pointed out that the total market capitalization of US stocks is about $77 trillion; meanwhile, Goldman Sachs expects only around 100 US IPOs in 2026, far fewer than the 380 during the internet bubble of 1999.

Pasquariello noted that compared to 1999, when many companies of varying quality rushed to go public, today’s market pays more attention to “asset quality,” and SpaceX clearly belongs to the rare super-assets with long-term narratives and core technological barriers.

It is also noteworthy that the timing of SpaceX’s IPO filing may coincide with the 12th test flight window of Starship. Market expectations suggest that this test flight could occur as early as next Tuesday.

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