SpaceX is preparing to confidentially file for an initial public offering as soon as next month, a move that could lead to the largest stock market debut in history and value Elon Musk’s rocket and satellite company at more than $1.75 trillion, Bloomberg reports.

The Starbase, Texas-based company is expected to submit draft IPO documents to the U.S. Securities and Exchange Commission in March, potentially positioning it for a June listing, according to people familiar with the matter.

If completed, the offering could raise as much as $50 billion — eclipsing the $29 billion record set by Saudi Aramco in 2019.

Deliberations remain ongoing, and timing or valuation could change.

The potential listing would mark a watershed moment for private markets and could kick off a wave of mega-IPOs, with OpenAI and Anthropic also viewed as possible future candidates.

SpaceX recently acquired Musk’s artificial intelligence startup xAI in a February transaction that valued the combined entity at $1.25 trillion.

The company has said proceeds from a future IPO would help fund rapid development of its next-generation Starship rocket, artificial intelligence data centers in space, and a potential lunar base.

SpaceX dominates the commercial space industry with its reusable Falcon 9 rocket and operates Starlink, a satellite internet network serving millions worldwide.

Musk has long stated that the company’s ultimate mission is sending humans to Mars, though recent focus has also shifted toward establishing a presence on the moon.

Major banks expected to play senior roles in the IPO include Bank of America, Goldman Sachs, JPMorgan Chase and Morgan Stanley.

A representative for SpaceX did not immediately respond to requests for comment.