Exclusive: SpaceX Chooses Legal Advisors for Major IPO – Sources

• SpaceX hired Gibson Dunn for legal representation while underwriting banks chose Davis Polk & Wardwell, with a potential confidential filing expected as early as this month
• The IPO could value SpaceX at $1.75 trillion, making it one of the most highly valued companies globally and giving public investors their first opportunity to buy shares
• The offering is part of a strong 2026 IPO market alongside planned mega-offerings from AI companies Anthropic and OpenAI

SpaceX Advances Toward Major IPO with Legal Team Appointments

SpaceX has taken concrete steps toward a blockbuster initial public offering by selecting legal advisors for the transaction, according to Reuters sources. Elon Musk's aerospace company has hired Gibson Dunn & Crutcher for legal representation, while underwriting banks have chosen Davis Polk & Wardwell.

Key Details:

• Target valuation: $1.75 trillion, which would rank SpaceX among the world's most valuable companies
• Timeline: Confidential filing could occur as soon as March 2026
• Banks under consideration: Bank of America, Goldman Sachs, JPMorgan Chase, and Morgan Stanley are being interviewed for lead underwriting roles

Strategic Context:

SpaceX recently acquired xAI, Musk's privately-owned social media and AI company, consolidating control over rockets, Starlink satellites, the X platform, and Grok AI chatbot under one corporate structure. Gibson Dunn previously advised on this acquisition.

Market Implications:

A successful SpaceX IPO would represent one of the most lucrative public offerings ever for participating banks and mark the first opportunity for public investors to access equity in the company. Davis Polk brings significant IPO expertise, having advised on major listings including Uber and Arm Holdings, and currently ranks first in capital markets league tables.

Broader IPO Landscape:

The potential SpaceX offering is part of a robust 2026 IPO pipeline, with AI companies Anthropic and OpenAI also preparing mega-offerings. This surge in high-profile technology IPOs signals renewed investor appetite for transformative companies despite elevated valuations.

The confidential nature of discussions and lack of official comment from involved parties reflects standard pre-IPO protocols.