Elon Musk’s SpaceX is preparing for an IPO, according to the Financial Times.

The report says the company has lined up Bank of America, Goldman Sachs, JPMorgan and Morgan Stanley for the IPO, which could be the largest in history.

Shares have recently been sold at an $800 billion valuation. It’s unclear what portion of the company will be made public in the sale but the largest ever capital raise via public sale was Aramco’s $29 billion.

However if OpenAI or Anthropic were to launch an IPO, it could be surpassed in short order.

Musk is in Davos today making his usual predictions about the imminent global rollout of full-self driving, robotics and data centers in space. His credibility is basically non-existent on that front so I won’t bother repeating them.

Tesla shares are up 1.3% today but down so far this year. I see this as a massive potential double top as the company is likely to burn cash this year and has no reasonable way back to being a growing automaker. The robotics side is vaporware so far and even if robotaxi works, the market isn’t big enough to sustain the valuation and it will quickly be commoditized.

I wonder if the SpaceX IPO will siphon money from the retail market from TSLA.