Overview
- A competitive bank "bake-off" is in progress, with Morgan Stanley viewed as the leading contender alongside Goldman Sachs and JPMorgan, though no mandates have been awarded.
- A decision on lead banks could come before year-end, but discussions remain fluid and confidential, according to people familiar with the process.
- SpaceX’s CFO told employees the company is preparing for a possible 2026 listing, stressing uncertainty over whether it will occur, its timing, and any valuation.
- Reporting indicates the IPO could raise more than $25 billion, which would place it among the biggest public offerings globally if completed.
- Plans for proceeds include increasing Starship flight cadence, deploying space-based AI data centers, and supporting a lunar base effort linked to a $4 billion NASA Artemis contract, with the IPO potentially covering both Starlink and launch businesses.