The move would make Musk the first ever person to lead two publicly traded companies worth more than $1 trillion.
AUSTIN, Texas — Elon Musk’s aerospace company SpaceX appears to be taking a major step towards going public.
According to reporting from Bloomberg, the Texas-based company confidentially filed paperwork with the U.S. Securities and Exchange Commission (SEC) for an initial public offering.
Many details of the filing are not currently public, but the offering could raise anywhere between $40 billion and $80 billion, which would make it one of the largest IPOs in history.
SpaceX merged with xAI, another Musk-owned property, back in February. The merger created a combined business with a value of more than $1 trillion.
Musk is expected to retain majority control of the company, and SpaceX’s listing would make him the first person to lead two publicly traded companies worth more than $1 trillion. He’s also the CEO of Austin-based Tesla Inc.
Last month, the company also received a new $17.3 million state grant to expand its semiconductor research and development and advanced packaging facility in Bastrop.
Over the next three years, SpaceX plans to expand the square footage of its facility in Bastrop by 1 million square feet, with the intent of producing Starlink kits and their component parts, including advanced packaged silicon products.
The proposed facility expansion would focus on work developing printed circuit boards (PCBs), a semiconductor failure analysis lab and advanced packaging for panel level packaging (PLP).
According to the governor’s office, the expansion is expected to create more than 400 jobs and around $280 million in investment. Once its completed, the Bastrop facility will be the largest PCB and PLP facility in North America.
