Goldman Leads SpaceX IPO as Public S-1 Expected Wednesday

Goldman Sachs will take the lead “left seat” in the underwriting syndicate for the SpaceX IPO, CNBC reported. Morgan Stanley is positioned next, followed by Bank of America, Citi, and JPMorgan. The public version of SpaceX’s S-1 could be released as early as Wednesday, which would mark the first time SpaceX opens its financials to outside scrutiny. SpaceX filed its S-1 confidentially in April. The filing must be available at least 15 days before the investor roadshow scheduled for the week of June 8. The planned deal size is reported at $70 billion–$75 billion, with a valuation range of $1.75 trillion–$2 trillion. The company’s recent xAI acquisition (February) valued the merged firm at $1.25 trillion. The IPO is also expected to allocate up to 30% of shares to retail investors—around triple the typical retail allocation for major IPOs. Goldman winning the left-seat role over Morgan Stanley ends a months-long competition and places it in charge of pricing and order-book management, which carries the highest underwriting fees. Beyond the top five banks, at least 16 additional institutions are involved in smaller roles. For crypto traders, the direct link is limited, but a mega-IPO like the SpaceX IPO can influence broader risk sentiment and liquidity expectations as large allocations and attention rotate into major private-to-public tech listings.