SpaceX picks Goldman Sachs to lead record-breaking IPO, sources say

SpaceX is preparing to unveil its IPO prospectus and has selected Goldman Sachs to spearhead the offering, according to sources with insider knowledge. Goldman Sachs will take the lead position on the prospectus, with support from Morgan Stanley, Bank of America, Citigroup, and JPMorgan Chase. Elon Musk's pioneering rocket company is expected to make its prospectus public as early as Wednesday, following a confidential filing with the Securities and Exchange Commission last month. The IPO is anticipated to raise an unprecedented amount, as Musk recently valued SpaceX at an impressive $1.25 trillion when he merged it with his AI company, xAI, in February. As of now, SpaceX has not responded to requests for comments. Historically, only two technology firms—Facebook and Alibaba—have surpassed valuations of $100 billion on their first trading day in U.S. markets. Recently, AI chipmaker Cerebras made its debut on the Nasdaq, closing with a market capitalization of approximately $95 billion, hinting at a potentially transformative year for IPOs linked to the AI sector. In a competitive landscape, SpaceX aims to enter the public market ahead of leaders in AI models, OpenAI and Anthropic, both valued near $1 trillion by private investors and looking towards an IPO this year. Stay tuned for further updates as this story develops.