SpaceX officially files for blockbuster IPO

SpaceX on Wednesday submitted documents to move forward with its highly anticipated initial public offering (IPO), as the revolutionary company that’s pursuing the eventual colonization of Mars and deploying space-based AI data centers.

The company, led by CEO Elon Musk, has grown into the world’s largest space business and is expected to become the first U.S. company to go public with a market value of more than $1 trillion at the time of its IPO.

SpaceX plans to offer its shares on the Nasdaq stock exchange using the ticker symbol “SPCX” and will also trade on the recently launched Nasdaq Texas exchange, as the company is headquartered in Starbase, Texas.

Founded by Musk in 2002, SpaceX has seen its business rise in recent years with the deployment of Starlink satellites that provide internet service to consumers, while it also pioneered the use of reusable rockets that can land and be relaunched to make space launches more commercially viable.

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SpaceX’s IPO may be the largest in history by a U.S. company. (Getty Images)

Starlink has become a key driver of its business, accounting for most of its $18.67 billion in revenue last year. However, despite that revenue, there’s a catch – it reported a loss of about $4.9 billion last year as it nearly doubled its capital expenditures to $20.7 billion in 2025. In 2024, SpaceX reported a profit of about $791 million.

SpaceX recently acquired another startup founded by Musk in xAI, which is focused on developing artificial intelligence (AI) technologies. 

The company’s IPO filing notes that the xAI unit still loses money, though AI will be pivotal to the company’s future. SpaceX recently announced that it’s collaborating with another Musk firm, Tesla, on an advanced chip manufacturing facility. 

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SpaceX is aiming to list its shares on the Nasdaq as early as June 12 and plans to launch its road show on June 4, with a share sale as soon as June 11, Reuters reported.

The IPO filing indicated that SpaceX will have a dual-class share structure that gives Class B shareholders 10 votes each, which will consolidate control under Musk and other insiders, whereas the Class A shares available to public investors carry one vote apiece. 

Musk will retain 85.1% of the combined voting power of the company, according to SpaceX’s prospectus.

SpaceX CEO Elon Musk founded the company in 2002 and will control the majority of the company’s shares, according to the IPO filing. (Robin Legrand/AFP via Getty Images)

The company’s filing with the Securities and Exchange Commission (SEC) outlines a massive addressable market of $28.5 trillion across its business areas.

Of that total, $26.5 trillion is attributed to AI initiatives, including $22.7 trillion in enterprise…