SpaceX unveiled its IPO filing on Wednesday, revealing the inner workings of the company that has transformed rocket technology and has grand ambitions to colonize Mars and establish AI data centers in space. This IPO is anticipated to be the first trillion-dollar U.S. market debut and could pave the way for other significant IPOs in the near future, including tech giants like OpenAI and Anthropic.
The IPO would solidify SpaceX’s position as one of the world’s most valuable publicly traded companies, becoming the second enterprise in Elon Musk’s business empire to exceed $1 trillion in market value. The filing corroborated recent reports by Reuters on the IPO details.
Founded in 2002, SpaceX has become the largest space enterprise globally, primarily due to its successful deployment of thousands of Starlink internet satellites. The company’s utilization of reusable rockets has revolutionized the economics of space travel, compelling competitors such as Jeff Bezos’ Blue Origin to innovate rapidly.
Although SpaceX is renowned for its rocket manufacturing and satellite launches, the majority of its $18.67 billion revenue last year stemmed from its Starlink satellite internet division. The company’s future growth prospects heavily rely on its artificial intelligence ventures, with its emerging xAI sector currently operating at a loss.
If the IPO is successful, SpaceX could be valued at an unprecedented $1.75 trillion, potentially positioning its founder to become the first trillionaire in history. This regulatory disclosure coincides with a crucial period for the rocket manufacturer as it prepares for a test flight of its next-generation Starship rocket, pivotal for Musk’s lunar and Mars missions, as well as expansion of the Starlink satellite internet network.
Originally slated for Tuesday, the test launch is now anticipated to occur later this week. The company’s board has granted Musk substantial control, linking a significant portion of his compensation to ambitious objectives like establishing a permanent human settlement on Mars and constructing space data centers with immense computing capabilities. Musk is set to retain 85.1% of the company’s combined voting power, as per the filing.
SpaceX aims to list its shares as early as June 12, with a roadshow scheduled for June 4 and the share offering expected to commence by June 11, according to recent reports.