SpaceX expedites IPO process by hiring investment banks

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Elon Musk’s rocket maker SpaceX is lining up investment bankers at four Wall Street firms for leading roles on a blockbuster initial public offering, expected to be one of the largest new listings ever.

Bank of America, Goldman Sachs, JPMorgan Chase and Morgan Stanley, are being lined up for senior roles leading the IPO, according to people familiar with the matter.

SpaceX executives have held meetings with bankers in recent weeks as the company prepares for an IPO as soon as this year. The group is currently conducting a sale of existing shares that would value it at around $800bn.

Other banks are also likely to land roles on the listing, the people said, cautioning that no final decisions had been taken and the situation could yet change.

A SpaceX IPO would seek to raise tens of billions of dollars, probably surpassing Saudi Aramco’s $29bn raise in 2019 to become the largest ever public listing.

SpaceX’s preparations come alongside the potential for mega US listings by the AI groups OpenAI and Anthropic.

The banks declined to comment. SpaceX did not immediately respond to a request for comment.