Goldman Sachs has secured the lead left position for SpaceX’s initial public offering, making it primarily responsible for coordinating the deal, engaging investors and helping determine the share price. The bank will head a syndicate that includes Morgan Stanley, Bank of America, Citigroup and JPMorgan.

The IPO is expected to occur this year at a valuation of at least $1.25 trillion, which would rank SpaceX among the top ten most valuable public companies. Plans under discussion include allocating up to 30% of shares to retail investors and highlighting the recurring revenue potential of the Starlink satellite division.

Leading a record-breaking technology offering could enhance Goldman Sachs’s standing in the investment banking league tables and generate substantial underwriting fees. Success on this deal would bolster its credentials in high-profile IPO mandates and intensify competition among major banks for future technology listings.