Goldman Sachs set to be named lead left underwriter for SpaceX IPO, source says

Goldman Sachs will likely take the lead left underwriter role for SpaceX’s highly anticipated initial public offering, a source told Reuters on May 19. The position signifies the most senior role among underwriters, with Morgan Stanley also serving as a lead banker on the prospectus, which could be released by May 23. Goldman Sachs and Morgan Stanley previously co-led Tesla’s IPO in 2010, and Morgan Stanley has advised Elon Musk for years. SpaceX aims to raise approximately $75 billion at a valuation of around $1.75 trillion, surpassing its combined valuation with Musk’s AI startup xAI, which stood at $1.25 trillion after their merger in February. The listing, targeting Nasdaq, could occur as early as June 12, pending regulatory approvals. If successful, it would mark the largest stock market flotation in history. Bank of America, Citigroup, and JPMorgan will also lead the IPO alongside Goldman Sachs and Morgan Stanley, with 16 additional banks supporting institutional, retail, and international channels. The IPO follows a volatile market period influenced by U.S. tariff policies and geopolitical uncertainty, but analysts expect strong demand given SpaceX’s dominance in satellite and rocket technology. Goldman Sachs declined to comment, while SpaceX and Morgan Stanley did not immediately respond to Reuters’ request for confirmation. The Wall Street Journal first reported Goldman’s lead role earlier on May 19. The IPO underscores SpaceX’s ambition to expand beyond private funding, leveraging its rapid growth in space infrastructure and Starlink satellite services.