SpaceX unveiled its IPO filing on Wednesday, revealing details about the company that has transformed rocket technology and has ambitious plans to colonize Mars and create AI data centers in space. This IPO is anticipated to be the first trillion-dollar U.S. market debut, setting the stage for other significant IPOs, including potentially from tech giants OpenAI and Anthropic.

With this sale, SpaceX is set to become one of the most valuable publicly traded companies globally, marking the second business under Elon Musk’s empire to exceed a $1 trillion market value. The IPO filing confirmed various reports about the upcoming IPO from Reuters.

Founded in 2002, SpaceX has become the world’s largest space enterprise by launching numerous Starlink internet satellites. While the company is renowned for its rocket construction and satellite launches, a substantial portion of its $18.67 billion revenue last year originated from the Starlink satellite internet sector. Future growth prospects largely depend on AI-related ventures, although the nascent xAI unit currently operates at a loss.

If the sale goes through successfully, SpaceX could achieve a record valuation of $1.75 trillion, potentially making its founder the world’s first trillionaire. This regulatory disclosure coincides with a crucial period for the rocket company, as it prepares to test its next-generation Starship rocket, crucial for Musk’s plans for lunar and Mars missions and expanding the Starlink satellite internet enterprise.

Originally scheduled for Tuesday, the test launch is now expected to occur later this week. Musk retains control over SpaceX, with the board linking a significant portion of his compensation to bold objectives like establishing a human colony on Mars and developing space data centers with immense computational capacity. The company aims to list its shares by June 12, with a roadshow set for June 4 and the share sale likely to follow shortly after on June 11.