SpaceX, the private space exploration company founded by Tesla CEO Elon Musk, filed plans to take the company public on Wednesday, in what could be the largest initial public offering ever.

SpaceX plans to offer its shares on the Nasdaq under the symbol SPCX, according to a filing on Wednesday with the US Securities and Exchange Commission. 

The Texas-based company didn’t disclose how much money it is seeking to raise, but a draft IPO registration filed in April put the amount at up to $75 billion. That would easily surpass the $29.4 billion IPO record set by Saudi Aramco in 2019.

Wednesday’s filing also revealed that the company collected $4.69 billion in revenue in the first quarter of 2026 while recording a net loss of $4.28 billion.

SpaceX representatives didn’t immediately respond to a request for comment.

SpaceX is expected to use the proceeds from the IPO to fund Musk’s ambitions in AI, space exploration and satellite ventures. 

“Our mission is to build the systems and technologies necessary to make life multiplanetary, to understand the true nature of the universe and to extend the light of consciousness to the stars,” SpaceX said in the filing. 

The IPO could make SpaceX one of the most valuable companies ever, with a possible valuation of more than $1.75 trillion. The IPO could make Musk, already the world’s richest person, the world’s first trillionaire, due to his controlling interest in the company.

Founded in 2002, SpaceX gets billions of dollars from the US government to launch satellites and help keep NASA’s programs running. But SpaceX is more than just a high-flying rocket company.

Its Starlink division provides internet access to homes, remote locations, airlines and many mobile phones in areas without cellular coverage. It also recently acquired xAI, another of Musk’s companies, and owns the social media site X (formerly Twitter).  

AI appears to be the driving force behind the company’s valuation ahead of the IPO. The xAI all-stock acquisition valued the company and SpaceX at $1.25 trillion.

“Musk wants to own and control more of the AI ecosystem, and step by step, the holy grail could be combining SpaceX and Tesla in some way to give the connected tissue between both disruptive tech stalwarts looking to lead the AI revolution,” Wedbush analysts said in a research note.