Elon Musk's SpaceX has said it is even more valuable than anticipated as it approaches a public stock listing set for next week.

In a filing with the US Securities and Exchange Commission detailing its plans for an initial public offering (IPO), SpaceX said its shares should go for $135 (£100) each, ratcheting up its valuation to roughly $1.75tn.

Setting an estimated price for its stock listing so far in advance is a rare move, and the amount represents a large increase over SpaceX's $1.25tn valuation earlier this year.

The revelation does not mean its shares will sell for the proposed price, as this will ultimately be decided by buyers. The price could go up or down.

SpaceX, which builds space exploration rockets and infrastructure but also owns xAI and Starlink, revealed its estimated share price more than a week before its public debut, which is unusual.

Companies typically only share an estimated selling price the day before they begin trading on the open market.

SpaceX is expected to start trading on the Nasdaq stock index on 12 June, making its price estimate one of the earliest, if not the earliest, in stock market history. The company is aiming to raise $75bn, the most ever for an IPO.

Should the company's shares sell at or above the expected $135 price, it will immediately become one of the world's most valuable companies.

And Musk, who controls more than 80% of SpaceX through his own stock holdings, could become a trillionaire.

However, such an outcome is not certain.

According to Dealogic data, which conducts research on the capital markets, almost half of the companies that have gone public in the last 30 years have seen their value decrease since listing.

"There is no doubt the valuation is incredibly rich," Samuel Kerr, head of equity capital markets research at Mergermarket, said.

He noted that SpaceX was pricing itself at a ratio relative to its sales higher than that of any other major company included in what investors refer to as the "Mag 7" - Alphabet, Amazon, Apple, Meta, Nvidia, Microsoft and Tesla, another of Musk's companies.

"But SpaceX is being valued on future earnings and revenue rather than the here and now, so some investors might be willing to overlook that," Kerr added.

Last year, Space Exploration Technologies - as SpaceX is officially known - brought in $18.6bn (£13.8bn) in revenue but had a net loss of $4.9bn.

In the first three months of this year, it achieved $4.7bn in sales but made a net loss of $4.3bn. Its balance sheet shows it has $102bn in assets, such as rockets and other equipment, but also carries $60.5bn of debt.

Besides space exploration, the company is investing heavily in artificial intelligence (AI), social media, space-based internet services and data centres.

Earlier this year, SpaceX acquired xAI, another one of Musk's businesses, which is known for its Grok chatbot.

xAI started as part of X, formerly known as Twitter, and used its access to live text and information on the platform to train its AI models.

Musk has long believed that developing space-based infrastructure is the best way to secure the resources needed to power AI, given that land on Earth is scarce.

He has outlined plans to launch AI satellites and eventually build data centres in orbit.

Ruth Foxe-Blader, managing partner at US venture capital firm Citrine Venture Partners, previously said that the sheer number of projects SpaceX was taking on was appealing.

"SpaceX is just an absolutely sprawling, enormous project with so many different selling points, and so many points that really point to the future," Foxe-Blader said.

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SpaceX valued at $1.75tn as it approaches stock market

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