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commerce
shāng yè
商业
·HSK 3

SpaceX (rocket and space company)
SpaceX
SpaceX
to apply for / to file for
shēnqǐng
申请
to go public / stock market listing
shàngshì
上市
，
valuation / estimated value
gūzhí
估值
to reach / to amount to
dá
达
$1.75 trillion USD
1.75 wànyì měiyuán
1.75万亿美元
。

SpaceX (rocket and space company)
SpaceX
SpaceX
already / has (completed action marker)
yǐ
已
confidentially / secretly
mìmì
秘密
to / toward
xiàng
向
the United States
Měiguó
美国
Securities and Exchange Commission (SEC)
Zhèngquàn Jiāoyì Wěiyuánhuì
证券交易委员会
to submit / to file
tíjiāo
提交
IPO / stock market listing
shàngshì
上市
application / filing
shēnqǐng
申请
，
target / goal
mùbiāo
目标
valuation
gūzhí
估值
to be / is (equal to)
wéi
为
$1.75 trillion USD
1.75 wànyì měiyuán
1.75万亿美元
，
likely to / expected to
yǒuwàng
有望
to become
chéngwéi
成为
in history / historically
lìshǐ shàng
历史上
scale / size
guīmó
规模
largest / greatest
zuìdà
最大
possessive / structural particle
de
的
initial public offering (IPO)
shǒucì gōngkāi mùgǔ
首次公开募股
。

May 14, 2026 at 8:00 AM

SpaceX (rocket and space company)
SpaceX
SpaceX
already / has (completed action marker)
yǐ
已
confidentially / in secret
mìmì
秘密
to / toward
xiàng
向
the United States
Měiguó
美国
Securities and Exchange Commission (SEC)
Zhèngquàn Jiāoyì Wěiyuánhuì
证券交易委员会
to submit / to file
tíjiāo
提交
draft prospectus / S-1 filing
zhāogǔ shuōmíngshū
招股说明书
。
company / corporation
gōngsī
公司
possessive / structural particle
de
的
target / goal
mùbiāo
目标
valuation
gūzhí
估值
to be / is (equal to)
wéi
为
$1.75 trillion USD
1.75 wànyì měiyuán
1.75万亿美元
，
to plan
jìhuà
计划
to raise (funds)
mùjí
募集
approximately / about
yuē
约
$75 billion USD
750 yì měiyuán
750亿美元
。
this
zhè
这
will (future marker)
jiāng
将
to become
chéngwéi
成为
in history / historically
lìshǐ shàng
历史上
scale / size
guīmó
规模
largest / greatest
zuìdà
最大
possessive / structural particle
de
的
IPO (initial public offering)
IPO
IPO
，
far exceeding / well beyond
yuǎnchāo
远超
Saudi Aramco (oil company)
Shātè Āměi
沙特阿美
the year 2019
2019 nián
2019年
possessive / structural particle
de
的
$29.4 billion USD
294 yì měiyuán
294亿美元
IPO / listing
shàngshì
上市
fundraising / capital raised
róngzī
融资
record
jìlù
纪录
。
SpaceX
SpaceX
SpaceX
under / subsidiary of
qíxià
旗下
to have / there are
yǒu
有
three major
sān dà
三大
business / operations
yèwù
业务
：
Starlink (satellite internet service)
Xīngliàn
星链
、
rocket
huǒjiàn
火箭
launch
fāshè
发射
as well as / and
yǐjí
以及
artificial intelligence
réngōng zhìnéng
人工智能
division / department
bùmén
部门
。
this year
jīnnián
今年
February
2 yuè
2月
，
SpaceX
SpaceX
SpaceX
using / through (all-stock deal)
yǐ
以
all-stock (transaction)
quán gǔpiào
全股票
method / manner
fāngshì
方式
to acquire / to take over
shōugòu
收购
completion particle
le
了
xAI (Elon Musk AI company)
xAI
xAI
，
the latter / the second mentioned
hòuzhě
后者
valuation
gūzhí
估值
to be / is (equal to)
wéi
为
$250 billion USD
2500 yì měiyuán
2500亿美元
。
currently / at present
mùqián
目前
expected to / estimated
yùjì
预计
to go public / to list
shàngshì
上市
time / date
shíjiān
时间
to be / is
wéi
为
the year 2026
2026 nián
2026年
June
6 yuè
6月
end of / late (month)
dǐ
底
or
huò
或
July
7 yuè
7月
beginning of / early (month)
chū
初
。

New Words

SpaceX
SpaceX
SpaceX
mìmì
秘密
confidentially
zhāogǔ shuōmíngshū
招股说明书
prospectus
gūzhí
估值
valuation
mùjí
募集
to raise funds
guīmó
规模
scale
róngzī
融资
fundraising
Xīngliàn
星链
Starlink
shōugòu
收购
acquisition
shàngshì
上市
IPO/listing

News in English

Business

SpaceX Files for IPO at $1.75 Trillion Valuation

SpaceX has confidentially filed an IPO application with the SEC at a target valuation of $1.75 trillion, which would make it the largest IPO in history.

SpaceX has confidentially submitted a draft prospectus to the U.S. Securities and Exchange Commission.

The company's target valuation is $1.75 trillion, with plans to raise approximately $75 billion.

This will become the largest IPO in history, far exceeding Saudi Aramco's $29.4 billion fundraising from its 2019 listing.

SpaceX operates three major business divisions: Starlink, rocket launches, and artificial intelligence departments.

In February of this year, SpaceX acquired xAI through an all-stock transaction; the latter has a valuation of $250 billion.

The company's IPO is currently expected to take place by the end of June 2026 or early July.

More in Business

Momenta
Móméng tǎ
摩蒙塔
Hong Kong
Xiānggǎng
香港
listed
shàngshì
上市
fundraising
róngjī
融资
$752 million
7.52 yì měiyuán
7.52亿美元

Chinese Autonomous Driving Firm Momenta Debuts on Hong Kong Stock Exchange with 752 Million Fundraise

Samsung (South Korean electronics company)
Sānxīng
三星
、
SK Hynix (South Korean memory chipmaker)
SK Hǎilìshì
SK海力士
and / together with
yǔ
与
Micron (US semiconductor company)
Měiguāng
美光
to race to / to vie in
jìngxiāng
竞相
to expand / to increase
kuòdà
扩大
AI / artificial intelligence
AI
AI
memory (computing)
nèicún
内存
chip / semiconductor chip
xīnpiàn
芯片
production capacity
chǎnnéng
产能
。

Samsung, SK Hynix and Micron Race to Expand AI Memory Chip Capacity

China
Zhōngguó
中国
artificial intelligence
réngōng zhìnéng
人工智能
company
gōngsī
公司
MiniMax (Chinese AI company)
MiniMax
MiniMax
to complete
wánchéng
完成
$2 billion
èrshí yì měiyuán
二十亿美元
fundraising / financing
róngzī
融资
。

Chinese AI Firm MiniMax Raises 2 Billion Dollars in Hong Kong Share Sale

PepsiCo
Bǎishì Gōngsī
百事公司
earnings / performance
yèjī
业绩
lower than / below
dīyú
低于
expectation / forecast
yùqī
预期
，
the United States
Měiguó
美国
stock market
gǔshì
股市
slightly / marginally
xiǎofú
小幅
to rise / to increase
shàngzhǎng
上涨
。

PepsiCo Earnings Disappoint as US Stocks Edge Higher