Space stocks rally on reports of SpaceX’s imminent IPO filing

Space stocks rose Wednesday following a report that Elon Musk’s SpaceX could file to go public as soon as this week.

satellite designer AST Space Mobile And Rocket Lab both jumped about 10%. rocket maker Firefly AviationShares of the company, which went public in August, increased by 16 percent. York SpaceThe aviation and space company, which held its public offering in January, increased by 5% upon this news.

Accordingly Informationhighly anticipated stock market start More than $75 billion can be raised for SpaceX. CNBC previously reported that this could be the largest IPO ever and is targeting a valuation of $1.75 trillion.

SpaceX acquired Musk’s xAI last month in a deal that valued the combined company at $1.25 trillion.

The space industry, which includes companies focused on national defense, has benefited from the excitement generated by SpaceX, President Donald Trump’s plans for a “Golden Dome” defense system, and growing demand for artificial intelligence infrastructure.

The rapid establishment of data centers to support artificial intelligence is cited as the reason for increasing electricity costs. Sending data centers into space has been proposed as a solution, but faces numerous obstacles, including high costs and limited rocket launch capability.

SpaceX currently operates the Starlink constellation, which has more than 9,500 satellites in orbit. In January, Musk proposed a larger project that would launch 1 million satellites; This effort was strongly opposed by scientists due to environmental threats.

WRISTWATCH: SpaceX’s IPO could be largest ever