JUST IN: SpaceX is interviewing banks for its IPO, with Morgan Stanley $MS emerging as a leading contender due to Elon Musk's close ties with the bank, per Reuters.
Goldman Sachs $GS and JPMorgan $JPM are also pitching. No banks have been selected yet but a decision could come before year-end.
Morgan Stanley has advised Musk for years, including on Tesla's 2010 IPO and the 2022 Twitter acquisition. Two former Morgan Stanley bankers now work directly for Musk: xAI CFO Anthony Armstrong and Jared Birchall, who runs Musk's family office.
SpaceX CFO Bret Johnsen told staff last week the company is preparing for a public offering in 2026, though timing and valuation remain "highly uncertain."
Reuters previously reported SpaceX is seeking to raise more than $25 billion, which would make it one of the largest IPOs ever globally.
Proceeds would go toward increasing Starship flight rates, deploying AI data centers in space, and building "Moonbase Alpha" on the lunar surface.
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