SpaceX filed for its long-awaited initial public offering on Wednesday evening, bringing Elon Musk's rocket, satellite and artificial intelligence company closer to what could be the largest IPO in market history.
The company is expected to list on Nasdaq under the ticker SPCX, with Reuters reporting that SpaceX could begin its roadshow on June 4, price the offering as soon as June 11, and start trading as early as June 12, according to Yahoo Finance and Reuters.
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SpaceX is aiming to raise about $75 billion at a valuation near $1.75 trillion, Reuters reported, a level that would make the deal the largest stock-market flotation ever.
Detailed Look Into SpaceX
The filing gives investors a first detailed look at SpaceX's finances after its acquisition of xAI.
The company generated $18.7 billion in 2025 revenue and posted a $4.9 billion loss, according to the S-1 filing.
Here are some highlights obtained through Benzinga Pro alerts:
- SpaceX plans to pursue asteroid mining operations focused on extracting metals and other critical resources from near-Earth and main-belt asteroids.
- Elon Musk is set to retain significant control of SpaceX after the IPO, with 85.1% combined voting power.
- Musk is expected to own 12.3% of Class A shares and 93.6% of Class B shares following the offering.
- Musk will continue to serve as SpaceX's CEO, CTO and board chairman after the IPO.
- SpaceX said Musk's voting power will allow him to control the outcome of matters requiring shareholder approval.
- Musk will also be able to elect, remove or fill vacancies among Class B directors.
Starlink appears to be the company's biggest revenue driver. The satellite internet business generated $11.4 billion in revenue last year, while SpaceX's rocket-launch unit brought in $4 billion and xAI contributed $3.2 billion.
SpaceX also remains deeply tied to U.S. government space programs. NASA awarded SpaceX $2.6 billion under its Commercial Crew Transportation Capability contract to carry astronauts to the International Space Station.
The U.S. Space Force awarded SpaceX a National Security Space Launch Phase 3 Lane 2 contract with an anticipated value of about $5.9 billion and an expected 28 missions, representing roughly 60% of projected missions in that lane.
Starlink's scale has expanded quickly ahead of the IPO. SpaceX said in July 2025 that Starlink had more than 6 million customers globally after adding more than 2.7 million customers over the prior year.
Morgan Stanley, Goldman Sachs, Bank of America, Citigroup and JPMorgan are serving as lead bookrunners, with 16 additional banks involved across institutional, retail and international channels.
Tesla Shares In Focus
The IPO would give public investors exposure to Musk's combined space, satellite broadband and AI ambitions, while also drawing fresh attention to Tesla Inc. (NASDAQ:TSLA), the other major public company he leads.
TSLA Price Action: Tesla stock was down 0.42% at $415.50 during after-hours trading on Wednesday, according to Benzinga Pro.
Over the past month, Tesla has gained about 3.2% versus a 4.6% rise in the S&P 500 and is down roughly 9% year-to-date compared to the index’s 8.1% gain.
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