On Wednesday, SpaceX submitted its application for an initial public offering (IPO), marking a significant step for the company owned by Elon Musk as it seeks to secure additional funding for its endeavors in space exploration, artificial intelligence, and satellite technology.

This announcement follows a confidential IPO filing made by SpaceX with the Securities and Exchange Commission (SEC) last month. While the company has not revealed the amount of capital it aims to raise, earlier projections suggested that it could reach as high as $75 billion.

If successful, SpaceX’s IPO could become the largest ever, surpassing the current record set by Saudi Aramco. The state-controlled oil and gas giant raised $25.6 billion during its IPO in 2019, as reported by Renaissance Capital, an investment banking firm.

In its filing, SpaceX indicated that it plans to list its shares on the Nasdaq Composite exchange under the ticker symbol “SPCX.”

The company, headquartered in Texas, has not yet responded to inquiries for further comments.

Founded by Musk in 2002, SpaceX focuses on the development and launch of space transport systems. The company also oversees Musk’s xAI, which specializes in artificial intelligence, and Starlink, which provides satellite internet services.

According to the recent filing, SpaceX reported an operational loss of $2.6 billion last year, despite generating $18.7 billion in revenue. In the first quarter of 2026, the company reported revenues nearing $4.7 billion.

This report was edited by Alain Sherter, with contributions from the Associated Press.