Elon Musk’s companies, particularly SpaceX, are positioning themselves for significant financial milestones in the coming years. Reports indicate that SpaceX is in discussions with four major Wall Street banks regarding a potential initial public offering (IPO) that could set a record, with a valuation reaching as high as $1.5 trillion. This move could make SpaceX, already recognized as the world’s most valuable startup, the largest flotation in history. Although no final decision has been announced, the IPO could occur as early as this year.
The surge in SpaceX’s valuation stems from its established leadership in the commercial rocket sector and its successful Starlink satellite service, which has garnered substantial market interest. Analysts are speculating about a wave of “mega listings” from major players in the technology industry. In addition to SpaceX, two prominent companies in the generative AI sector, OpenAI and Anthropic, are also considering potential IPOs, reflecting a broader trend toward significant public offerings in the tech landscape.
Growing rapidly, OpenAI reported that its annualized revenues exceeded $20 billion in 2025. However, the organization is also facing considerable expenditures, leading some experts to suggest that remaining private might offer advantages. Retaining a private status could allow OpenAI to maintain a level of operational secrecy, providing time to refine its intricate corporate structure.
The atmosphere surrounding OpenAI has been further complicated by a legal dispute involving its CEO, Sam Altman, and Elon Musk. Musk, who is suing OpenAI for $134 billion, alleges that the organization violated its initial governance commitments—he was an early investor. In response, Altman argues that Musk’s actions are aimed at undermining OpenAI to promote his own AI venture, xAI. This lawsuit has raised concerns about OpenAI’s future, with some analysts viewing it as a potential “existential threat.”
Market observers are keenly watching these developments, as they could significantly impact the competitive landscape of the technology sector, particularly in the multitrillion-dollar race for dominance in artificial intelligence. As companies like SpaceX, OpenAI, and Anthropic navigate these challenges, their decisions regarding public offerings will be closely scrutinized by investors and industry analysts alike. The outcomes of these potential IPOs could redefine the financial contours of the tech industry in the years to come.
