Hold onto your helmets, space fans! 🌌 Elon Musk is officially taking SpaceX to the public markets. In a recent filing with the US Securities and Exchange Commission (SEC), the rocket giant revealed plans for what could be the largest initial public offering (IPO) in history, aiming to raise a staggering $75 billion. 💰
For the first time, we're getting a peek at the company's actual bank statements. According to the documents, SpaceX brought in $18.7 billion in revenue in 2025. While they posted an operating loss of $2.6 billion last year, that's mostly because they've been pouring massive amounts of cash into next-gen rockets and AI. Talk about thinking big! 🚀
The Breakdown: Starlink vs. AI 🛰️
Not all parts of the business are equal. Starlink, the satellite internet service, is absolutely crushing it. In 2025, it generated $11.4 billion in revenue—a nearly 50% jump from the year before—and turned a neat profit of $4.4 billion. On the flip side, the AI segment (which includes xAI and the X platform) is currently a money pit, recording $3.2 billion in revenue but losing $6.4 billion due to the insane costs of building AI training data centers. In fact, SpaceX spent $7.7 billion on AI capital expenditure in the first quarter of 2026 alone! 🤯
Who's the Boss? 👑
If you're thinking this IPO means Musk is stepping back, think again. The filing confirms a dual-class share structure, meaning Elon keeps the keys. He'll hold about 42% of the equity but a whopping 79% of the voting power. Basically, he still calls the shots on everything from director elections to the company's direction.
The Wildest Part: AI in Space 🌌🤖
The most futuristic part of the filing? SpaceX wants to build data centers in space. Musk argues that capturing solar energy in orbit is the only way to truly scale the power needed for AI computing. The goal is to start deploying AI compute satellites as early as 2028, aiming for 100 gigawatts of capacity annually. This would require thousands of launches and moving about 1 million tonnes of material into orbit every year. Sci-fi is becoming reality! 🛰️✨
What's Next? 📈
SpaceX estimates its total addressable market at a mind-blowing $28.5 trillion (excluding the Chinese mainland and Russia). If everything goes according to plan, keep your eyes on the Nasdaq this June. The company is expected to list under the symbol SPCX. Get your portfolios ready! 💸
Reference(s):
cgtn.com
