SpaceX has reportedly assembled a consortium of 21 banks to prepare for a potential initial public offering, according to reports from Reuters and CNBC. The aerospace company has internally designated the potential IPO under the code name "Project Apex."

The reports indicate that Elon Musk's space exploration company has engaged the banks as part of preparations for what would likely be one of the largest IPOs in recent years, given SpaceX's substantial valuation in private markets.

SpaceX has been valued at approximately $180 billion in recent private funding rounds, making it one of the world's most valuable privately-held companies. The company has built its business around rocket launches, satellite internet services through its Starlink division, and NASA contracts.

While the engagement of 21 banks suggests serious preparation for a public offering, neither SpaceX nor the banks involved have officially confirmed the IPO plans. Companies often engage investment banks for various strategic planning purposes beyond immediate public offerings.

The timing of any potential IPO remains unclear, as private companies typically maintain flexibility in their going-public timeline based on market conditions and business readiness. SpaceX has previously indicated it might consider taking its Starlink satellite internet business public separately from its rocket operations.