Elon Musk’s SpaceX is looking to raise $80 billion or more in its IPO, a haul that would make it the largest public offering in history, with The Goldman Sachs Group (NYSE:GS) set to lead the deal.
The Wall Street Journal reported on Monday that the $80 billion raise would be roughly three times Saudi Aramco’s $26 billion offering in 2019, the current record.
At a valuation of around $1.7 trillion, SpaceX would also rank among the most valuable companies ever to go public.
After SpaceX absorbed Musk’s xAI earlier this year, its implied worth jumped from around $1.25 trillion to the $1.75 trillion-to-$2 trillion range now circulating.
Starlink, SpaceX’s profit engine, doubled its operating income to $4.42 billion last year, according to Reuters. The newly absorbed xAI does the opposite, posting a roughly $6.4 billion …
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