Elon Musk is considering floating his rocket firm SpaceX on the stock exchange, with bankers being interviewed for what could be a blockbuster stock market launch. Top executives at the US rocket maker are selecting Wall Street bankers to advise on the firm’s initial public offering (IPO), according to reports.

Several investment banks are due to make their pitches this week in what bankers call a “bake-off”. Last week, employees were told bosses were getting ready for a possible public offering in 2026, the Wall Street Journal reported. The company’s chief financial officer, Bret Johnsen, told SpaceX staff in a message seen by the WSJ: “The thinking is that if we execute brilliantly and the markets cooperate, a public offering could raise a significant amount of capital.”

He added that the process remained “highly uncertain”.

It marks the biggest step yet toward what could be one of the largest IPOs of the year.

The decision to pursue an IPO has reportedly surprised people close to the company.

In just over two decades, SpaceX has become an essential contractor to the United States Government, launching both satellites and astronauts.

Over that time its valuation has climbed, boosted by customer gains as its internet service, Starlink, took off.

In December, the company was considering a secondary share sale which valued the firm at around $800billion, American media reported.

The chief financial officer told employees at the time that the new stock price of the company was $421 per share.

The potential IPO comes as the company intends to deploy artificial intelligence data centers in space and continues work on uncrewed and crewed missions to Mars.

Currently the firm, founded by South African-born billionaire Elon Musk, is one of the world’s top rocket manufacturers. It operates more than 9,000 satellites which provide Starlink internet services across the world.

SpaceX is a private company, which means it does not report its financial position.

However earlier this year, Musk said he anticipated the company would generate around $15.5billion in revenue. Taking to X, the social media platform the billionaire also owns, he said the firm had been “cash flow positive for many years”.

Musk is currently in direct competition with fellow tech tycoon Jeff Bezos to launch data centers into space, amid an artificial intelligence race which has seen their competing space firms spending billions on the projects.

Mr Musk is currently worth around $498.8billion and has been the world’s richest person since 2021.

He made his early fortune from PayPal and became CEO of electric car maker Tesla, helping transform it into the world’s most valuable car company.