Elon Musk’s SpaceX is reportedly preparing for a significant initial public offering (IPO) that could become the largest in history, with potential valuations reaching up to $1.5 trillion. This news follows Musk’s recent public confrontation with Ryanair’s CEO, Michael O’Leary. Although no final decision has been made regarding the IPO, the company is said to be engaging four Wall Street banks for advisory support, indicating a potential float as early as this year.
The anticipated IPO is a result of SpaceX’s established leadership in the commercial rocket sector and its successful Starlink satellite service. As the world’s most valuable startup, SpaceX’s growing valuation reflects its pivotal role in space exploration. The upcoming months are expected to witness a surge in major listings in the United States, as two prominent players in the generative AI space—OpenAI and Anthropic—are also considering their own IPOs.
Despite their impressive growth trajectories, caution is advised regarding the public offerings of OpenAI and Anthropic. OpenAI’s annualized revenues surpassed $20 billion in 2025, yet the company is reportedly spending significantly more to maintain its competitive edge. Remaining private could allow these companies to retain a level of operational secrecy, enabling them to better navigate their intricate corporate structures.
The situation surrounding OpenAI has become increasingly complex due to a legal dispute involving Musk, who is suing the company for $134 billion. Musk claims that OpenAI’s current management has strayed from its original governance promises, a matter of particular concern as he was an initial investor. He has been releasing internal documents that could shed light on OpenAI’s operations. In response, OpenAI’s CEO, Sam Altman, has argued that Musk’s motivations are tied to his own interests in his AI venture, xAI.
This lawsuit could represent a critical turning point for OpenAI, as noted by Danny Fortson in The Sunday Times. The outcomes of these legal proceedings may have significant implications in the competitive landscape of AI technology, an industry projected to be worth trillions of dollars.
As the landscape of tech IPOs evolves, the coming years could redefine the financial trajectories of these influential companies. Investors and industry watchers are now keenly observing how these developments will unfold, especially with the potential for SpaceX, OpenAI, and Anthropic to reshape the market with their respective public offerings.
