SpaceX, the aerospace company founded by Elon Musk 24 years ago, has finally filed its application for an IPO (Initial Public Offering). The documents, released after markets closed on Wednesday, show that the company has moved far beyond reusable rockets. SpaceX has now become a major technology conglomerate operating in the satellite and AI sectors. This is reported by Techcrunch.com .
The company is expected to begin trading on the Nasdaq exchange under the ticker "SPCX" later this year. This S-1 regulatory filing provides the first public look at the financial health of SpaceX's business. This IPO is expected to be the largest in history: the company plans to raise around $75 billion, with its total valuation estimated at $1.75 trillion. For comparison, NVIDIA currently leads with a market capitalization of $5.4 trillion.
According to financial reports, while SpaceX generated over $18 billion in revenue in 2025, it posted a loss of $4.9 billion. More than half of the company's revenue comes from Starlink satellite internet. The document also notes that SpaceX has spent over $37 billion since its inception. The xAI company, created by Elon Musk and recently integrated into SpaceX, is not yet generating significant profit.
Reports indicate that in 2025, SpaceX directed nearly 60 percent of its capital expenditures (approximately $20 billion) to its artificial intelligence division. This division, which includes the Grok chatbot, incurred billions in losses last year, and its revenue grew by only 22 percent. This figure is significantly lower than the growth rates of other leading AI labs.
The company's future largely depends on the success of the Starship rocket. This fully reusable heavy-lift rocket has undergone several explosions and technical modifications in recent years. SpaceX is expected to conduct the 12th test flight of the Starship vehicle this week.
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