SpaceX filed for an preliminary public providing on Wednesday, because the Elon Musk-owned rocket producer strikes to lift extra capital for its area, AI and satellite tv for pc ventures.
The transfer comes after SpaceX filed a confidential IPO with the Securities and Trade Fee final month. SpaceX didn’t disclose how a lot cash it’s in search of to lift, however earlier estimates put the quantity at as much as $75 billion.
SpaceX’s IPO may very well be the most important in historical past, a document at present held by Saudi Aramco. The state-owned petroleum and pure fuel firm, based mostly in Saudi Arabia, raised $25.6 billion in its 2019 preliminary public providing, in accordance to Renaissance Capital, an funding financial institution.
SpaceX stated in a securities submitting that it’s going to commerce on the Nasdaq Composite alternate beneath the ticker image “SPCX.”
The Texas-based firm didn’t instantly reply to a request for remark.
Multiplanetary ambitions
Musk based SpaceX in 2002 to develop and launch spacecraft. The Texas-based firm additionally owns Musk’s synthetic intelligence firm, xAI, and his satellite tv for pc firm, Starlink.
In keeping with SpaceX’s submitting, the corporate misplaced $2.6 billion from its operations final yr on $18.7 billion in income. SpaceX generated practically $4.7 billion in income within the first three months of 2026.
A lot of the firm’s space-related income comes from launching and working its Falcon 9, Falcon Heavy and Dragon rockets and spacecraft for business and authorities clients.
“We imagine SpaceX’s reusable rockets, scaled satellite tv for pc manufacturing and operational experience can allow the cost-effective and speedy deployment of large AI compute satellite tv for pc constellations — with probably tens of millions of satellites — for orbital information facilities,” the corporate stated within the submitting.
SpaceX sees an enormous potential marketplace for its services and products, valued at greater than $28 trillion. That features $370 billion for its area ventures, $1.6 trillion for broadband providers, $26.5 trillion in AI providers, practically $23 trillion in enterprise know-how and $600 billion in digital promoting.
The IPO prospectus additionally underscores SpaceX’s broader ambitions, together with establishing area colonies.
“Our mission is to construct the programs and applied sciences essential to make life multiplanetary, to know the true nature of the universe, and to increase the sunshine of consciousness to the celebs,” SpaceX stated within the submitting.
SpaceX-Tesla merger?
Cash raised from the IPO may assist Musk finance different bold initiatives, corresponding to placing information facilities in area and presumably sending an individual to Mars. It may additionally assist make Musk, the world’s richest particular person, the first-ever trillionaire.
Such initiatives face daunting challenges. Stated Wall Avenue analyst Adam Crisafulli in a notice to purchasers: “The issue is that space-based information facilities are removed from assured, and lots of take into account them operationally and economically unfeasible, not solely nowadays, however for (no less than) the following a number of years.”
After the IPO, Musk might be SpaceX’s CEO, chief know-how officer and chairman of the board, in addition to retain majority voting energy over the corporate, in accordance with Wedbush Securities.
“Musk needs to personal and management extra of the AI ecosystem, and step-by-step, the holy grail may very well be combining SpaceX and Tesla indirectly to provide the related tissue between each disruptive tech stalwarts seeking to lead the AI revolution,” Wedbush analysts stated in a analysis notice.
