Musk's SpaceX looking to raise $75 bn in June IPO

SpaceX, the company founded by tech billionaire Elon Musk, will soon file for an initial public share offering in June that could raise a whopping $75 billion for his extraterrestrial ambitions, a report said Tuesday.

Citing a person with knowledge of the plan, tech news site The Information said the IPO prospectus would be filed with security regulators this week or next for the long-expected operation.

SpaceX, which is also developing a spacecraft for reaching Mars, was valued at $1.25 trillion in early February, when it merged with Musk's artificial intelligence unit xAI.

In recent months, analysts had expected Musk would seek to raise $30 billion to $50 billion given the red-hot investor demand for technology firms.

The IPO looks set to blow past the biggest public offering on record from 2019, with the oil group Saudi Aramco raised $25.6 billion.

The company did not immediately respond to an AFP request for comment.

SpaceX, which dominates the space launch market with its reusable rockets, is owned by Musk alongside several investment funds and tech companies including Google's parent Alphabet.

Analysts have said that taking SpaceX public will require it and Musk to maintain greater transparency, particularly about its revenues, and could increase pressure to deliver profits.