Countdown to $1.75trn SpaceX IPO underway

(Sharecast News) - Elon Musk's SpaceX has confirmed plans to debut on Nasdaq in what is set to be the largest ever initial public offering.

Filing its much-anticipated prospectus with the US Securities and Exchange Commission late on Wednesday, the rocket and satellite manufacturer Space Exploration Technologies Corp is expected to debut under the symbol SPCX on 12 June.

Although the size of the offering was not detailed, it is widely forecast to raise around $75bn on a valuation of $1.75trn. Musk currently controls around 85% of the business, which was founded in 2002 and now focuses on three core areas: space, connectivity through its Starlink satellite unit, and artificial intelligence. The IPO could potentially make Musk, already the world's richest man, a trillionaire.

The filling showed that in the three months to 31 March, SpaceX revenues rose 15.4% to $4.7bn while losses came in at $1.9bn.

Much of the company's growth looks to come from Starlink, which saw revenues jump 50% in 2025 to $11.4bn. The loss-making AI unit delivered revenues of $3.2bn over the same period.

However, Musk has long insisted that SpaceX's potential lies with AI, even if much of the technology that the company's long-term growth depends on has yet to be invented or developed.

The prospectus noted: "AI accelerates SpaceX's mission to make life multiplanetary, to understand the true nature of the universe and to extend the light of consciousness to the stars.

"We believe that space represents the largest economic frontier in human history, unlocking unprecedented opportunities in orbit and on Earth. Earth has limits, so we must build infrastructure and industries in space.

"We believe AI infrastructure in space can utilise the virtually limitless power of the sun and thereby enable the use of AI as a transformative force for understanding the universe and improving the daily lives of all humans."

Founded in 2023, xAI was acquired by SpaceX earlier this year.