Elon Musk’s rocket and satellite company SpaceX unveiled its long-awaited initial public offering filing, opening its books to investors for the first time and setting the stage for what could become the largest and most consequential stock market debut in US history.

The listing could value the company at as much as $1.75 trillion, instantly making SpaceX one of the world’s most valuable publicly traded companies and potentially the second company in Musk’s business empire after Tesla to cross the trillion-dollar mark.

The IPO is expected to become a defining moment for global capital markets and may pave the way for other high-profile technology firms — including OpenAI and Anthropic — to pursue stock market listings later this year.

Founded in 2002, SpaceX transformed the global space industry through the development of reusable rockets capable of landing and flying again, dramatically reducing launch costs and reshaping the economics of space travel. The company’s rise also intensified competition with rivals such as Blue Origin, founded by Jeff Bezos.