SpaceX unveiled its IPO filing on Wednesday, revealing details of the company’s groundbreaking work in rocket technology and its ambitious goals to establish a presence on Mars and create AI data centers in space. The IPO is expected to be the first trillion-dollar U.S. market debut, setting the stage for potential monumental IPOs from other tech giants like OpenAI and Anthropic in the near future.
The IPO would solidify SpaceX as one of the most valuable publicly traded companies globally, marking the second company in Elon Musk’s empire to surpass a $1 trillion market value. The filing affirmed recent reports by Reuters regarding the IPO.
Founded in 2002, SpaceX has become the world’s leading space enterprise by launching numerous Starlink internet satellites. While renowned for its rocket building and satellite launches, a significant portion of SpaceX’s $18.67 billion revenue last year stemmed from its Starlink satellite internet operations, with future growth prospects tied to AI-related ventures. The xAI division is currently operating at a loss, according to the filing.
A successful IPO could value SpaceX at a record $1.75 trillion, potentially making Elon Musk the world’s first trillionaire. The company’s regulatory disclosures coincide with a crucial period as it prepares to test launch its next-generation Starship rocket, critical for Musk’s lunar and Mars exploration plans and the expansion of the Starlink internet service. Originally scheduled for Tuesday, the test launch is now expected later this week.
The board has granted Musk significant control over SpaceX, linking much of his compensation to ambitious targets such as establishing a human colony on Mars and developing space data centers with massive compute capacity. Musk will retain 85.1% of the combined voting power of the company, as indicated in the filing.
SpaceX aims to list its shares by June 12, with a roadshow launch planned for June 4 and the share sale anticipated as early as June 11, according to Reuters.
