SpaceX IPO Prospectus Expected as Soon as Next Week Ahead of Planned June 8 Roadshow

SpaceX is preparing to publicly disclose its IPO prospectus as soon as next week, according to people familiar with the matter, as the aerospace and artificial intelligence company moves toward what analysts expect to be the largest share offering in history.

The company, which confidentially filed for an IPO in April, is targeting a roadshow launch date of June 8 to begin formally marketing the deal to investors, according to the sources, who asked not to be named given a quiet period ahead of the listing process.

Regulatory requirements mandate that the filing be made public at least 15 calendar days before the roadshow begins. SpaceX and its advisers are aiming to disclose it somewhat earlier than that minimum threshold, the people said, to allow investors additional time to review the financials. They cautioned that the timeline may still shift.

SpaceX did not immediately respond to a request for comment.

The offering follows SpaceX's February merger with xAI, Elon Musk's artificial intelligence company, in a deal that valued the combined entity at $1.25 trillion. The listing size is being targeted at approximately $70 billion to $75 billion, according to people familiar with the matter — more than twice the size of Saudi Aramco's record-setting 2019 offering.

Because no company has ever sold that volume of stock in a single IPO, SpaceX's advisers are pursuing distribution channels beyond traditional institutional investors. That includes outreach to retail brokers in countries such as the United Kingdom, Japan, and Canada, in an effort to secure allocations for longer-term individual investors outside the United States, two of the people said.

The disclosure could coincide with the 12th test flight of SpaceX's next-generation Starship rocket, which the company had previously said it was targeting for May 19.

The planned offering arrives as investor appetite for IPOs — particularly those tied to artificial intelligence — has surged after years of a largely dormant new-issue market. Cerebras, an AI chipmaker, gained 68% in its market debut on Thursday, closing with a market capitalization of approximately $95 billion.

OpenAI and Anthropic, two of the largest AI model developers, are also pursuing public offerings as soon as this year, with both potentially targeting valuations exceeding $1 trillion.

The timing underscores the degree to which public markets are being reshaped by the AI buildout, with investors competing for exposure to a sector that has driven much of the equity market's momentum over the past several years. How SpaceX prices and allocates its offering will be closely watched as a signal of how much further that appetite extends.

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