SpaceX unveiled its plans to list publicly on the US stock market Wednesday, disclosing its investor prospectus and revealing details about its financials for the first time. Elon Musk's rocket and satellite operations company will go public on the Nasdaq exchange at a valuation of about $1.75 trillion under the symbol SPCX, likely on 12 June. It is seeking up to $80 billion in investment.
The company, which is the world's most prominent rocket maker and which has extensive contracts with the US government, confidentially filed for an IPO last month. The filing allowed for a period of regulatory review before the details became public.
"Our mission is to build the systems and technologies necessary to make life multiplanetary, to understand the true nature of the universe, and to extend the light of consciousness to the stars," SpaceX declared in its filing.
SpaceX has grown since its founding in 2002 into the most valuable piece of Musk's vast tech empire. Its forthcoming IPO also stands to make the world's richest person even wealthier, moving him closer to becoming a trillionaire from a current net worth of $807 billion, according to Forbes.
The disclosure on Wednesday shed light on SpaceX's usually secretive finances, showing that it is plowing billions of dollars into AI and had a capital expenditure last year of more than $20 billion against $18.7 billion in revenue for 2025. It also showed that the company lost over $4.2 billion in the first three months of 2026.
The company also revealed in its prospectus that its connectivity segment, which includes its Starlink satellite internet provider, has been the strongest pillar of its business. The connectivity segment brought in over $3.2 billion in revenue between January and end of March 2026 alone and $11.4 billion in 2025.
While SpaceX for years touted its mission of expanding humanity to Mars, that goal has been sidelined amid several other plans that include creating data centers in orbit to help fuel the AI boom and expanding its Starlink services. The company also acquired Musk's AI firm, xAI, in February.
The disclosure takes some of the eyes off of Musk's loss earlier this week in his court battle with OpenAI and its CEO Sam Altman. A federal jury found, after a three-week long trial, that Altman and OpenAI were not liable for Musk's claims that he broke a founding agreement of the business and unjustly enriched themselves.
SpaceX's investor prospectus lists OpenAI along with other major AI firms such as Anthropic as key competitors to its business. All three businesses are set to go public this year, each at valuations of hundreds of billions or more than a trillion dollars, in what is one of the most blockbuster periods for public offerings in market history.
