SpaceX has selected four major investment banks to lead its initial public offering, according to people familiar with the matter, as Elon Musk's rocket and satellite company advances plans for what could become the largest IPO in history.

Banking Consortium Formation

The company has chosen Bank of America Corp., Goldman Sachs Group Inc., JPMorgan Chase & Co., and Morgan Stanley for senior roles in the offering. Additional banks are reportedly in discussions for roles in the IPO, though no final decisions have been made and details could change.

Representatives from SpaceX and the selected banks declined to comment on the arrangements. The Financial Times initially reported the lead bank selections.

IPO Valuation and Timeline

SpaceX is targeting an IPO that would raise significantly more than $30.00 billion in a transaction valuing the company at approximately $1.50 trillion. The offering could potentially occur as early as this year, representing a substantial increase from the company's current private market valuation.

Current Corporate Developments

The company is simultaneously moving forward with an insider share sale that values SpaceX at about $800.00 billion, as reported in December. This private transaction provides a bridge between the company's previous valuation and its IPO aspirations.

SpaceX has implemented standard pre-IPO protocols, informing employees in December that the company was entering a quiet period. During this regulatory requirement for listing candidates, employees have been instructed to refrain from discussing the IPO in the months leading up to the expected market debut.

Market Significance

The planned offering would represent a landmark transaction in the public markets, potentially setting records for IPO fundraising amounts. The substantial valuation reflects SpaceX's position in both the commercial space launch industry and satellite communications sector through its Starlink constellation.

SpaceX has activated free Starlink satellite internet service in Iran as the country faces widespread protests and a nationwide internet blackout that has persisted for five days. The company waived subscription fees for users with receivers in Iran, providing crucial communication access during ongoing civil unrest.

Service Implementation and Confirmation

The free service confirmation comes from multiple sources, including Ahmad Ahmadian, executive director of US-based Holistic Resilience, which works with Iranians to secure internet access. A person familiar with Starlink's operations also confirmed the complimentary service provision, though SpaceX has not responded to requests for official comment.

Government Response and Equipment Seizures

Iranian authorities have intensified efforts to counter Starlink usage through multiple approaches. The Iranian military has been actively working to jam Starlink signals and hunting down users, according to Amir Rashidi, director of digital rights at Miaan Group. Iranian state-run IRIB News reported that authorities seized "a large consignment of electronic equipment used for espionage and sabotage," including what appeared to be Starlink receivers.

Despite these restrictions and the official ban on Starlink receivers in Iran, an estimated 50,000+ units are available in the country through smuggling operations across borders, according to Ahmadian.

Historical Precedent in Conflict Zones

This deployment follows SpaceX's established pattern of providing free Starlink service during geopolitical conflicts:

The service has provided internet communications for both Ukrainian citizens and military forces since Russia's invasion, while the Venezuela deployment followed US government actions regarding President Nicolás Maduro.

Current Situation Context

The unrest across Iran has intensified significantly, with hundreds of thousands taking to the streets calling for political change. Activist groups warn that thousands may have been killed during more than two weeks of violent unrest. NetBlocks, which monitors online connectivity, confirms the nationwide internet shutdown has cut off millions from online services, making alternative communication methods crucial for protesters and citizens.