Elon Musk, the world’s richest person, is pressing ahead with plans for an initial public offering of SpaceX, with the aim of completing the listing before July this year, according to people familiar with the matter.

Media reports have previously said that SpaceX was valued at about $800 billion in a secondary share sale in December. The aerospace company had long been expected to go public in 2026, a timeline Musk confirmed publicly last month.

Founded in 2002, SpaceX has resisted an IPO for years, but the rise of artificial intelligence has begun to shift that stance.

Since the AI boom took off in 2023, major technology companies have poured massive sums into building data centers to support growing computing demands. Against this backdrop, Musk and Blue Origin founder Jeff Bezos have floated the idea of deploying data centers in space.

While the concept faces formidable technical hurdles and has drawn skepticism from many engineers, people familiar with the discussions say Musk has developed an intense interest in making SpaceX the first company to turn the idea into reality. Without the capital raised through an IPO, however, such an undertaking would be difficult to finance.

Sources also said Musk views a SpaceX listing as a way to help his artificial intelligence venture, xAI, close the gap with rivals. Musk has long been locked in a rivalry with OpenAI Chief Executive Sam Altman, who last year explored the possibility of acquiring a rocket company to deploy AI-capable satellites in orbit.

Two of xAI’s competitors, OpenAI and Anthropic, are also considering IPOs this year, according to people familiar with the matter. Musk, the sources said, appears eager for SpaceX to reach public markets ahead of them.