SpaceX completed its acquisition of its AI startup xAI in February, a deal valued at roughly $1 trillion for SpaceX and about $250 billion for xAI, according to Reuters.

To attract anchor investors, SpaceX is highlighting its facilities in California, Mississippi, and Texas, with Musk planning a tour of the sites for large investors starting from New York (dates may shift).

The banking syndicate for the IPO includes Bank of America, Goldman Sachs, JPMorgan Chase, Morgan Stanley, and Citigroup, with international lenders such as Royal Bank of Canada, Mizuho, and Macquarie also participating.

SpaceX is accelerating its employee stock option vesting schedule, potentially enabling earlier sales as the company gears up for an anticipated May IPO.

The IPO is targeting a valuation above $1.75 trillion, which would make it the largest ever, surpassing Saudi Aramco's 2019 debut.

The company is aiming to price its IPO the week of mid-June and could list on major indices like the Nasdaq 100 soon after the offering.