SpaceX has filed for what could become the world's largest IPO, seeking to raise up to $86 billion at a $1.78 trillion valuation. The company plans to sell 555.6 million shares at $135 apiece, with potential additional shares if underwriters exercise the "greenshoe" option. This offering would dwarf most previous tech debuts and establish SpaceX as one of the most valuable companies globally.

The IPO will cement Elon Musk's control of two of America's most valuable companies, SpaceX and Tesla. His special class of shares grants him 82% voting power at the rocket group, ensuring he maintains decision-making authority. The listing comes amid a tech race to raise capital for AI development, with competitors like Alphabet also seeking significant funding.

SpaceX will direct IPO proceeds primarily toward expanding AI infrastructure, followed by developing space launch vehicles and building its Starlink satellite network. The prospectus outlines ambitious future goals including orbital AI data centers, asteroid mining, and passenger transport to the Moon and Mars. Investors will have limited governance influence given Musk's controlling stake.