SpaceX has filed for its long-awaited initial public offering, bringing Elon Musk’s rocket, satellite, and artificial intelligence company closer to what could be the largest IPO in market history. The company is expected to list on Nasdaq under the ticker SPCX.
IPO Details
- SpaceX could begin its roadshow on June 4
- The company may price the offering as soon as June 11
- Trading could start as early as June 12
- SpaceX is aiming to raise about $75 billion at a valuation near $1.75 trillion
Detailed Look Into SpaceX
The filing gives investors a first detailed look at SpaceX’s finances after its acquisition of xAI. Key highlights include:
- The company generated $18.7 billion in 2025 revenue and posted a $4.9 billion loss
- SpaceX plans to pursue asteroid mining operations focused on extracting metals and other critical resources from near-Earth and main-belt asteroids
Company Structure and Leadership
- Elon Musk is set to retain significant control of SpaceX after the IPO, with 85.1% combined voting power
- Musk will own 12.3% of Class A shares and 93.6% of Class B shares following the offering
- Musk will continue to serve as SpaceX’s CEO, CTO, and board chairman after the IPO
- Musk’s voting power will allow him to control the outcome of matters requiring shareholder approval
- Musk will also be able to elect, remove, or fill vacancies among Class B directors
Business Operations
- Starlink is the company’s biggest revenue driver, generating $11.4 billion in revenue last year
- SpaceX’s rocket-launch unit brought in $4 billion, while xAI contributed $3.2 billion
- The company remains deeply tied to U.S. government space programs, with contracts from NASA and the U.S. Space Force
Starlink Expansion
- Starlink has expanded quickly ahead of the IPO, with over 6 million customers globally
- The company added more than 2.7 million customers over the prior year
IPO Bookrunners
Morgan Stanley, Goldman Sachs, Bank of America, Citigroup, and JPMorgan are serving as lead bookrunners, with 16 additional banks involved across institutional, retail, and international channels.
Tesla Shares In Focus
The IPO would give public investors exposure to Musk’s combined space, satellite broadband, and AI ambitions, while also drawing fresh attention to Tesla Inc. Tesla stock was down 0.42% at $415.50 during after-hours trading on Wednesday. Over the past month, Tesla has gained about 3.2% versus a 4.6% rise in the S&P 500 and is down roughly 9% year-to-date compared to the index’s 8.1% gain.