SpaceX, the company that made reusable rockets look routine, is about to make another kind of landing. The Elon Musk-led space venture filed a confidential S-1 registration statement with the SEC in April 2026 and released its public prospectus around May 20, laying out plans for a Nasdaq listing under the ticker SPCX.
The numbers are staggering. SpaceX priced shares at $135 each, offering 555.6 million shares with the goal of raising approximately $75 billion. That would value the company at roughly $1.8 trillion post-listing, making it the largest IPO in history.
The financials behind the filing
The prospectus revealed a company with serious revenue momentum. SpaceX reported $18.7 billion in revenue for 2025. Starlink generated approximately $11.4 billion, more than 60% of total revenue. The launch segment contributed around $4.1 billion. The remaining revenue, roughly $3.2 billion, spans SpaceX’s expanding portfolio including government contracts, Starshield (its national security-focused service), and emerging ventures. The company has also signaled ambitions in AI-related infrastructure.
Musk’s grip on the steering wheel
