SpaceX Files for Massive IPO to Fund AI and Mars Dreams

Elon Musk’s SpaceX has officially filed for an initial public offering (IPO), setting the stage for what could become the largest public listing in history. The rocket and satellite company plans to list on the Nasdaq under the ticker symbol “SPCX”, according to its regulatory filing.

According to reports, SpaceX could raise between $75 billion and $80 billion through the IPO, potentially valuing the company at as much as $1.75 trillion. If achieved, the listing would surpass all previous IPO records and further strengthen Musk’s position as one of the world’s richest entrepreneurs. The filing also marks the first time SpaceX has publicly disclosed detailed financial information since its founding 24 years ago.

The filing comes days after Musk faced a legal setback in his ongoing battle with OpenAI, a key competitor in the fast-growing AI race.

Revenue Grows, Losses Remain High

SpaceX reported revenue of $18.7 billion in 2025, according to the S-1 prospectus filed with the US Securities and Exchange Commission (SEC). However, the company remained loss-making as it continued to spend heavily on rocket development, satellite expansion and artificial intelligence infrastructure.

The company posted a net loss of nearly $5 billion last year, while revenue for the first quarter of 2026 stood at $4.7 billion. Operating losses were driven largely by investments in next-generation launch systems and AI-related projects.

The filing showed that Starlink, the company’s satellite internet business, generated $11.4 billion in revenue in 2025, making it SpaceX’s biggest revenue contributor.

Big AI and Space Ambitions

In its IPO filing, SpaceX said its long-term mission is to make humanity “multiplanetary” and eventually build cities on other planets. The company also outlined plans to develop large-scale AI computing systems powered by solar energy captured in space.

The company said it aims to begin deploying AI-focused computer satellites by 2028. SpaceX added in the filing that space-based solar power could become a scalable solution for the growing electricity demands of AI data centres.

According to the prospectus, SpaceX also disclosed an agreement to lease excess data-centre capacity to AI firm Anthropic through 2029.

Musk to Retain Strong Control

The IPO structure will allow Musk to maintain tight control over the company after listing. According to the filing, he will hold around 85% of voting power through a dual-class share structure, while also serving as CEO, CTO and chairman.

SpaceX acknowledged in the filing that the structure gives Musk significant influence over major company decisions, including board appointments and shareholder matters.

Wedbush analyst Dan Ives said in a note that a future merger between SpaceX and Tesla could eventually create an AI-driven technology powerhouse, cited France 24.

Analysts believe the IPO could become one of the defining market events of 2026 as investor interest in AI and space technology continues to rise.