NEW YORK: Elon Musk’s SpaceX has unveiled plans for a historic stock market debut, targeting a valuation of nearly $1.75 trillion in what could become one of the largest public offerings in financial history.
The rocket and satellite company said it plans to list on the Nasdaq exchange under the ticker symbol “SPCX” next month and aims to raise up to $80 billion from investors.
The long-anticipated public filing offered the first detailed look into SpaceX’s financial performance, revealing rapid growth alongside heavy spending on artificial intelligence, satellite expansion and advanced space technologies.
According to the filing, the company generated $18.7 billion in revenue during 2025, while recording losses exceeding $4.2 billion in the first quarter of 2026 as investment costs surged.
SpaceX said its Starlink satellite internet business remained its strongest revenue source, generating more than $11.4 billion last year and over $3.2 billion during the first three months of 2026 alone.
AI ambitions and government contracts drive expansion
The company said it was increasingly focusing on artificial intelligence infrastructure, orbital data centres and satellite connectivity services alongside its long-term ambitions for Mars exploration.
SpaceX also confirmed expanding ties with Musk’s artificial intelligence company xAI, which it acquired earlier this year.
The IPO is expected to further strengthen Musk’s position as the world’s richest person, with analysts suggesting the listing could push his personal wealth closer to the trillion-dollar mark.
SpaceX remains one of the most strategically important aerospace firms in the United States due to its extensive contracts with NASA, the Pentagon and other US government agencies.
The listing comes during a major boom in AI and technology-related public offerings, with firms such as OpenAI and Anthropic also preparing large-scale market debuts.
