According to sources familiar with the matter, SpaceX executives have begun the selection process for Wall Street investment banks to provide advisory services for the company's potential initial public offering (IPO).
Multiple banks are scheduled to submit their initial proposals this week in a competitive bidding process known as a "bake-off." This marks the most concrete step yet by the rocket manufacturer toward what could become a blockbuster IPO.
Earlier reports indicated that SpaceX informed employees on Friday about preparations for a possible public listing next year. CFO Bret Johnson stated in an internal message: "Our vision is that if the company executes its plans successfully and market conditions remain favorable, this IPO could raise substantial capital."
Johnson added that both the timing and ultimate decision to proceed with an IPO remain "highly uncertain."
The move toward an IPO has surprised some close observers of the company. Founded over 20 years ago, SpaceX has grown into a key U.S. government contractor for satellite launches and astronaut transport missions. Its valuation has continued to climb, recently boosted by growing customer adoption of its Starlink satellite internet service.
Earlier this month, reports indicated SpaceX is also advancing a secondary stock sale that could value the company at approximately $800 billion - double its $400 billion valuation from this summer.
After several relatively quiet years, the U.S. IPO market is showing signs of revival. Regardless of whether SpaceX's potential mega-IPO materializes, investment banks remain optimistic about market prospects for 2026.
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