Elon Musk’s aerospace company SpaceX has once again sparked market attention with fresh developments in its listing plans. According to multiple international media reports, SpaceX has selected Bank of America, Goldman Sachs, JPMorgan Chase and Morgan Stanley as potential lead underwriters for its initial public offering (IPO), signaling that a blockbuster listing that could set a global record is gaining momentum.

Four Wall Street Giants Step In, IPO Preparations Accelerate

The Financial Times, citing sources familiar with the matter, reported that SpaceX’s management team has recently held several rounds of meetings with the four top-tier Wall Street banks and has preliminarily confirmed their core roles in the IPO. While the final underwriting syndicate has yet to be fully finalized and additional banks may still join, the move is widely seen as a key milestone indicating that SpaceX’s listing plans are moving into a more substantive phase.

Valuation Soars to USD 800 Billion, Fundraising Could Break Records

Since its founding more than two decades ago, SpaceX’s valuation has continued to climb. Public information shows that in an internal share transaction last December, SpaceX priced its shares at USD 421 each, implying an overall valuation of around USD 800 billion. If the company were to list at this valuation, its IPO fundraising could exceed USD 30 billion, potentially surpassing Saudi Aramco’s USD 29 billion IPO in 2019, the largest in global history.

Starlink Emerges as a Core Growth Engine

Beyond its rocket launch business, the Starlink satellite internet network has become one of SpaceX’s most important commercial assets. In September last year, the company struck a deal worth approximately USD 17 billion with EchoStar to acquire wireless spectrum-related assets, further strengthening Starlink’s network coverage in the United States and globally, while significantly enhancing its long-term revenue potential.

A Possible Revival of the U.S. Tech IPO Wave

SpaceX’s IPO preparations come at a time when expectations for large-scale U.S. tech listings are beginning to recover. Companies such as OpenAI and Anthropic have been rumored to be exploring listing options, while other high-valuation private firms including Databricks, Canva and Strava are also viewed as potential IPO candidates. The market expects that if several major deals materialize, total U.S. IPO fundraising this year could see a notable rebound.

Market Volatility Remains a Key Variable

That said, macroeconomic uncertainty could still affect the timing of the listing. In the past, tariff policies and market volatility have led several technology companies to delay their IPO plans. While a combination of market recovery and rising corporate financing demand is rebuilding momentum in the IPO market, the final timing and scale of SpaceX’s listing will still depend on market conditions and regulatory progress. Overall, if SpaceX successfully goes public, it could not only rewrite global IPO records, but also become one of the most landmark capital market events in the technology and aerospace sectors in recent years.