SpaceX, the aerospace company founded by Elon Musk, is preparing to go public with an initial public offering (IPO) that is anticipated to set a record. The company has selected Goldman Sachs for the lead left position on its IPO prospectus, with Morgan Stanley, Bank of America, Citigroup, and JPMorgan Chase following in secondary roles. This decision comes after SpaceX was valued at $1.25 trillion during its merger with Musk's artificial intelligence startup, xAI, earlier this year. The IPO prospectus is expected to be made public soon, potentially as early as Wednesday, after a confidential filing with the Securities and Exchange Commission last month.

SpaceX aims to enter the public market ahead of other major AI firms, including OpenAI and Anthropic, which are also planning to go public this year. Notably, only two tech companies, Facebook and Alibaba, have achieved valuations exceeding $100 billion following their first day of trading on U.S. exchanges. Musk's IPO announcement comes on the heels of a recent court defeat against OpenAI and its CEO, Sam Altman, regarding claims of a broken promise related to the nonprofit status of OpenAI. Musk plans to appeal the court's decision, which he described as a mere technicality.