Elon Musk has officially confirmed the veracity of widely circulating reports about SpaceX’s IPO plans.

According to the reports, SpaceX aims for an initial public offering (IPO) in mid-to-late 2026 that could raise over $32 billion, taking the company’s valuation to $1.5 trillion.

Taking to X, Musk responded to a post by Ars Technica senior space editor Eric Berger and commented, “As usual, Eric is accurate,” endorsing details about the company's shift toward going public.

The recent initiative is directly tied to the AI boom, featuring plans to convert Starlink satellites into orbital data centers. These centers would utilize constant solar power and natural cooling. The plans also include Moon-based factories for producing AI satellites.

According to the Guardian, SpaceX, the company known for designing, planning, and launching rockets, has entered the discussion with banks about an initial public offering (IPO).

According to Bloomberg’s report, Elon Musk is eyeing an overall valuation of about $1.5 trillion and is expected to raise “significantly more than £30bn,” given the Starlink’s growth and Starship advancements.

Earlier this week, there were also reports of the company being in talks with investors about a share sale, thereby leading it to a $800 billion valuation. However, SpaceX CEO refuted these reports outrightly.

According to Musk, who holds a 42 percent stake in the company, these public markets are the fastest and most reliable way to build resources amid fierce competition from other tech giants.

Musk commented at a meeting with shareholders in November, “I do want to try to figure out some way for Tesla shareholders to participate in SpaceX. I’ve been giving a lot of thought to how to give people access to SpaceX stock.”

“Maybe at some point, SpaceX should become a public company despite all the downsides of being public,” he added.

As per Cathie Wood's Ark Invest projection, the SpaceX company could reach an enterprise value of approximately $2.5 trillion by 2030.