SpaceX Initiates IPO as Musk Aims to Build Trillion-Dollar Space Titan
Billionaire Elon Musk's aerospace company, SpaceX, took a major step towards Wall Street on the 20th by filing for an IPO in New York. The Initial Public Offering could be the largest in history, aiming to raise up to $75 billion. According to the S-1 filing, the company generated $18.7 billion in revenue in 2025 but posted an operating loss of $2.6 billion due to heavy investments in next-generation rockets and AI. Musk plans to retain control through a dual-class share structure, holding 85% of the voting rights post-listing. The company aims to list on the Nasdaq exchange under the ticker symbol 'SPCX' as early as June.
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- 📰 Published: May 21, 2026 at 11:19
- 🔍 Collected: May 21, 2026 at 11:31 (12 min after Published)
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Billionaire Elon Musk's American aerospace company, SpaceX, took a major step towards Wall Street today by submitting its application for a public listing. This Initial Public Offering (IPO) could become the largest in history, hoping to raise up to $75 billion.
Agence France-Presse reports that if the public offering is successful, the listing of this rocket and satellite giant, SpaceX, will surpass any IPO record in history and further solidify Musk's status as one of the most influential entrepreneurs of this generation.
According to the filing, upon completion of the IPO, Musk will serve simultaneously as CEO, CTO, and Chairman.
US media reports that SpaceX hopes to raise $75 billion and achieve a valuation of up to $1.75 trillion when it begins trading, as early as June.
This submitted S-1 prospectus is a document legally required to be filed with the U.S. Securities and Exchange Commission (SEC) before a company goes public. It includes detailed financial information for potential investors, possible risks, and business strategies. This is the first time SpaceX has publicly disclosed detailed financial data in its 24-year history.
The filing shows that SpaceX generated $18.7 billion in revenue in 2025 but had an operating loss of $2.6 billion due to heavy investment in next-generation rocket development and the field of artificial intelligence (AI).
SpaceX's Starlink satellite network business is clearly the main financial engine, with revenue growing nearly 50% year-over-year in 2025 to $11.4 billion.
The AI division, including xAI and the AI arm of social media platform X, had revenues of $3.2 billion in 2025. Due to the company's aggressive construction of AI training data centers, the AI division's operating loss reached $6.4 billion.
Capital expenditures for the AI division amounted to a staggering $12.7 billion in 2025 alone, and reached $7.7 billion in the first quarter of 2026, reflecting the immense capital required to catch up with deep-pocketed rivals in the AI race like Google, Meta, and Amazon.
SpaceX also disclosed that it has reached an agreement with AI competitor Anthropic to lease the remaining capacity of its COLOSSUS and COLOSSUS II data centers for a monthly rent of $1.25 billion, with the contract lasting until May 2029.
The release of this document comes just days after Musk suffered a major legal setback in his fierce dispute with OpenAI, which is also currently moving towards a public listing.
The filing confirms that SpaceX will adopt a dual-class share structure, allowing Musk to maintain firm control over SpaceX after the listing and avoid the corporate governance disputes he has faced at Tesla.
Musk, the world's richest person, is expected to control approximately 85% of SpaceX's voting rights while holding about 42% of the shares.
SpaceX acknowledged that such an arrangement poses a risk to outside investors, stating that Musk "will have the ability to control the outcome of all matters requiring stockholder approval, including the election of all directors."
The document also outlines an ambitious blueprint to build data centers in space, arguing that collecting solar power in orbit is the "only truly scalable solution" to the increasing electricity demand from AI computing.
SpaceX plans to begin deploying AI computing satellites as early as 2028, with a long-term goal of deploying 100 GW (Gigawatts) of computing capacity in orbit annually.
This mission implies thousands of rocket launches per year and sending approximately 1 million metric tons of payload into orbit.
SpaceX stated that it is uniquely positioned to accomplish this challenge, calling it an "extremely difficult" task that no other company can currently undertake at a commercial scale.
SpaceX claims its Total Addressable Market (TAM), the maximum revenue opportunity the company estimates for its products and services, is as high as $28.5 trillion, excluding China and Russia.
Reports indicate that SpaceX aims to list on the Nasdaq exchange in June with the stock symbol SPCX.
Wedbush Securities analyst Dan Ives predicts that SpaceX's next step after the IPO could be a merger with Tesla, creating an AI-driven "holy grail" corporate entity.
Agence France-Presse reports that if the public offering is successful, the listing of this rocket and satellite giant, SpaceX, will surpass any IPO record in history and further solidify Musk's status as one of the most influential entrepreneurs of this generation.
According to the filing, upon completion of the IPO, Musk will serve simultaneously as CEO, CTO, and Chairman.
US media reports that SpaceX hopes to raise $75 billion and achieve a valuation of up to $1.75 trillion when it begins trading, as early as June.
This submitted S-1 prospectus is a document legally required to be filed with the U.S. Securities and Exchange Commission (SEC) before a company goes public. It includes detailed financial information for potential investors, possible risks, and business strategies. This is the first time SpaceX has publicly disclosed detailed financial data in its 24-year history.
The filing shows that SpaceX generated $18.7 billion in revenue in 2025 but had an operating loss of $2.6 billion due to heavy investment in next-generation rocket development and the field of artificial intelligence (AI).
SpaceX's Starlink satellite network business is clearly the main financial engine, with revenue growing nearly 50% year-over-year in 2025 to $11.4 billion.
The AI division, including xAI and the AI arm of social media platform X, had revenues of $3.2 billion in 2025. Due to the company's aggressive construction of AI training data centers, the AI division's operating loss reached $6.4 billion.
Capital expenditures for the AI division amounted to a staggering $12.7 billion in 2025 alone, and reached $7.7 billion in the first quarter of 2026, reflecting the immense capital required to catch up with deep-pocketed rivals in the AI race like Google, Meta, and Amazon.
SpaceX also disclosed that it has reached an agreement with AI competitor Anthropic to lease the remaining capacity of its COLOSSUS and COLOSSUS II data centers for a monthly rent of $1.25 billion, with the contract lasting until May 2029.
The release of this document comes just days after Musk suffered a major legal setback in his fierce dispute with OpenAI, which is also currently moving towards a public listing.
The filing confirms that SpaceX will adopt a dual-class share structure, allowing Musk to maintain firm control over SpaceX after the listing and avoid the corporate governance disputes he has faced at Tesla.
Musk, the world's richest person, is expected to control approximately 85% of SpaceX's voting rights while holding about 42% of the shares.
SpaceX acknowledged that such an arrangement poses a risk to outside investors, stating that Musk "will have the ability to control the outcome of all matters requiring stockholder approval, including the election of all directors."
The document also outlines an ambitious blueprint to build data centers in space, arguing that collecting solar power in orbit is the "only truly scalable solution" to the increasing electricity demand from AI computing.
SpaceX plans to begin deploying AI computing satellites as early as 2028, with a long-term goal of deploying 100 GW (Gigawatts) of computing capacity in orbit annually.
This mission implies thousands of rocket launches per year and sending approximately 1 million metric tons of payload into orbit.
SpaceX stated that it is uniquely positioned to accomplish this challenge, calling it an "extremely difficult" task that no other company can currently undertake at a commercial scale.
SpaceX claims its Total Addressable Market (TAM), the maximum revenue opportunity the company estimates for its products and services, is as high as $28.5 trillion, excluding China and Russia.
Reports indicate that SpaceX aims to list on the Nasdaq exchange in June with the stock symbol SPCX.
Wedbush Securities analyst Dan Ives predicts that SpaceX's next step after the IPO could be a merger with Tesla, creating an AI-driven "holy grail" corporate entity.