SpaceX Confidentially Files for IPO

The global financial market stands on the threshold of the largest event in its history. Elon Musk’s SpaceX has officially initiated its public offering by filing a confidential registration statement with the U.S. Securities and Exchange Commission (SEC).

The choice of a confidential filing format is a strategically important step. It allows the company to go through all stages of the regulator's review and refine financial details without disclosing reporting to the general public until the final stage. According to insiders, a full-scale public roadshow and listing could take place as early as June 2026.

For Raison, this news is an important stage in portfolio management: we invested in SpaceX back in 2019. During this time, the company has evolved from a private launch operator into a global infrastructure giant, and the move to the public market will be the logical conclusion of this transformation.

Details of the Upcoming Placement

According to data from leading financial agencies, SpaceX plans to raise approximately $75 billion in new capital, which is nearly three times the previous world record set by Saudi Aramco. The company's expected valuation upon going public is $1.75 trillion.

Nasdaq and NYSE are competing to host the listing. According to Reuters, SpaceX is leaning toward the Nasdaq to gain inclusion in the Nasdaq-100 index, which would open access to major institutional funds. The scale of the event is also confirmed by the lineup of underwriters: according to Bloomberg, Morgan Stanley and Goldman Sachs may become the leading organizers of the placement. A final decision on the choice of platform has not yet been announced.

Why Has the Valuation Soared to Trillions?

The explosive growth in SpaceX's value in 2026 is linked to the company's transformation from a rocket operator into a global infrastructure giant. Key drivers:

• Merger with xAI: Earlier this year, SpaceX merged with Elon Musk's artificial intelligence startup. This created a vertically integrated holding company combining space infrastructure and AI computing power.
• Space as IT Infrastructure: SpaceX has begun licensing an orbital data center project. Against the backdrop of a shortage of terrestrial capacity for AI, the company is already seeking regulatory permission to deploy servers in orbit, which would solve the main problems of cooling and power consumption.
• Starlink’s Infrastructure Record: The company has launched more than 10,000 satellites into orbit, reaching this milestone in just 7 years. Taking into account expansion into new markets, including Vietnam, SpaceX has secured its status as a monopolist in the satellite internet market.

What Does This Mean for Raison Investors?

SpaceX is one of the key companies in our investment portfolio. This placement will become the "gold standard" for the private spaceflight and AI markets, confirming our expertise in finding assets that change the global economy.

The confidential filing of the application is a strategic choice that minimizes market noise and guarantees the most stable exit to the Nasdaq. We continue to manage this asset and will inform you at every stage of the preparation for what could be the largest IPO in history.

Want to learn more about our investment solutions and gain access to exclusive Pre-IPO deals? Please contact our expert to get a personal consultation.