The world's largest IPO is coming? SpaceX selects Goldman Sachs and three other major investment banks as underwriters.

SpaceX, the rocket manufacturer owned by Elon Musk, is preparing for an IPO that could set a global record, having selected four Wall Street investment banks as lead underwriters.

According to sources cited by the Financial Times, SpaceX executives have met with bankers from Bank of America, Goldman Sachs, JPMorgan Chase, and Morgan Stanley in recent weeks, and the company is preparing for an IPO as early as this year.

The report cited insiders as saying that other banks may also be included in the listing, but they cautiously noted that no final decision has been made.

Since it was founded over twenty years ago, SpaceX's valuation has continued to climb. The company has solidified its position as the leading commercial rocket developer and also operates the Starlink satellite internet service.

WallstreetCN mentioned that in December last year, SpaceX set its latest internal share offering price at $421 per share, putting the company’s valuation at an astounding $800 billion—potentially setting a record for the largest IPO in history.

Four Major Banks Lead the Preparations

According to informed sources, Bank of America, Goldman Sachs, JPMorgan Chase, and Morgan Stanley have been given leading roles in SpaceX's IPO project. Sources added that other investment banks may also gain positions on the project, but no final decision has been made. All four banks declined to comment, and SpaceX did not immediately respond to requests for comment.

WallstreetCN mentioned that SpaceX's IPO aims to raise well over $30 billion, likely surpassing the $29 billion record set by Saudi Aramco’s IPO in 2019, making it the largest IPO ever.

In September last year, SpaceX reached a $17 billion deal with troubled operator EchoStar to acquire wireless spectrum licenses to enhance the Starlink network, enabling Musk to expand the service in the U.S.

This deal further strengthened SpaceX’s dominant position in the satellite internet field.

Tech Giants Lining Up for IPOs

SpaceX’s IPO preparations come as the U.S. market may see multiple large tech company IPOs.

Artificial intelligence companies OpenAI and Anthropic are also preparing potential IPO plans. Analysts say these three deals alone could raise more than the total U.S. IPO proceeds for all of last year.

Other major private firms planning to go public this year include data analytics company Databricks with a valuation of $134 billion and design platform Canva valued at $42 billion. Fitness tracking app Strava is also expected to launch an IPO in the coming months.

Despite an optimistic outlook, market volatility could still disrupt these IPO plans.

Trump's tariff policies resulted in a weaker-than-expected IPO market last year. Trump’s tariff announcements in April dragged down the stock market and delayed multiple large tech IPOs, disappointing investment bankers who had expected a strong rebound in the IPO market after three years of stagnation.

However, as companies advance their long-delayed listing plans and the rising stock market provides support, the IPO market has recently regained momentum.

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