SpaceX filed for its IPO this morning, which is predicted to be the largest IPO in history with a target valuation of around $1.75 trillion. The company plans to list on Nasdaq under the name SPCX. Many are waiting for SpaceX to list for an IPO because it is now not just an aerospace company but also an artificial intelligence (AI) and social media company after acquiring xAI and X.
In the S-1 document filed, SpaceX's financial situation is finally known. Throughout 2025, SpaceX recorded a net loss of $4.9 billion compared to revenue of $18.7 billion. The company also has $29.1 billion in accumulated debt until Q1 2026. This is due to the acquisition of xAI and X, which are also Elon Musk's companies.
Throughout 2025, Starlink contributed 70% of the company's revenue and currently has 10.3 million customers in 164 countries with 9,600 satellites launched until Q1 2026. After the IPO, Elon Musk still holds 85.1% of the voting power through a two-class share structure.
