Space stocks surged after reports that Elon Musk’s SpaceX could file for an initial public offering as soon as this week.
The IPO could raise more than US$75 billion and would value the company at $1.75 trillion, The Information reported. Shares in Firefly Aerospace and Rocket Lab closed 16% and 10.3% higher respectively.
SpaceX was valued at $1.25 trillion in February after it acquired artificial intelligence business xAI, another company run by Musk. “SpaceX has acquired xAI to form the most ambitious, vertically-integrated innovation engine on (and off) Earth,” Musk wrote at the time.
SpaceX has been interviewing banks for leading roles in the IPO, Reuters reported earlier in March, including JPMorgan Chase, Goldman Sachs, Bank of America, and Morgan Stanley.
The company is reportedly targeting a June listing.
It generated almost $16 billion in revenue and $7.5 billion in EBITDA last year, per Morningstar estimates. This was largely due to major subscriber growth at its satellite internet segment Starlink.
Satellite designer AST SpaceMobile’s shares closed 10.4% higher today, while York Space Systems was up 5.1%. Lunar exploration company Intuitive Machines rose 14.7%, having also been lifted by a $180.4 million NASA contract yesterday.
Shares in Tesla, where Musk is also CEO, rose 0.8%.



