SpaceX has filed a registration statement with the Securities and Exchange Commission to sell shares to the public for the first time, setting the stage for what could be the largest initial public offering in history and a transformative moment for New York’s capital markets.
The aerospace company, officially known as Space Exploration Technologies Corp., plans to trade on the Nasdaq exchange under the ticker symbol SPCX. The IPO is expected to take place next month after a marketing period, with a target valuation of $2 trillion that would make SpaceX one of the ten most valuable publicly traded companies in the world.
The S-1 filing provides an unprecedented look at SpaceX’s finances. The company reported $18.6 billion in revenue in 2025 but posted a net loss of $4.3 billion for the three months ended March 31. SpaceX’s major lines of business include rocket launch services for NASA and the Defense Department, the Starlink satellite internet service with 10.3 million subscribers, and artificial intelligence operations through its xAI subsidiary.
Following the IPO, CEO Elon Musk will hold 85% voting control and serve as chairman, CEO, and chief technology officer. Musk’s current net worth of $667 billion could make him the world’s first trillionaire if the offering succeeds at its target valuation.
For New York’s financial industry, the SpaceX IPO represents a landmark event. The offering would surpass Saudi Aramco’s record $29.4 billion raise and is expected to draw intense interest from institutional investors, investment banks, and retail traders alike. The deal will generate significant fees for underwriters and trading volume for the Nasdaq, reinforcing New York’s position as the global capital of public markets.
The filing also disclosed risk factors, including ongoing investigations into xAI’s Grok chatbot related to non-consensual deepfakes, and SpaceX’s recent acquisition of the X social media platform. The company said it signed a deal to sell data center capacity to AI rival Anthropic, acknowledging that xAI remains a distant competitor to market leaders.
Source: NBC New York | Business of New York
