SpaceX Files Record $1.75 Trillion IPO with AI and Starlink Bets
SpaceX filed its S-1 prospectus on May 20, targeting the largest IPO in history under ticker SPCX. The filing reveals a $1.75 trillion valuation with integrated businesses spanning rockets, Starlink satellites, xAI, and $1.25 billion monthly payments to Anthropic for AI compute.
Historic IPO Filing
SpaceX, the aerospace company founded by Elon Musk 24 years ago, has finally made its IPO filing public. SpaceX filed its S-1 with the SEC on May 20, 2026. After 24 years as a private company, it has applied to list Class A common stock on Nasdaq and Nasdaq Texas under the ticker SPCX.
Valuation and Raise
The S-1 landed on May 20, with a Nasdaq debut targeted for June 12 under the ticker SPCX and a raise of up to $75 billion. It would most likely be the biggest IPO ever, surpassing the 2020 debut of oil company Saudi Aramco.
AI Integration and Financing
The filing reveals the integration of AI assets, including a $60 billion option to acquire the coding startup Cursor and $1.25 billion in monthly payments to Anthropic for cloud compute. After absorbing xAI in February 2026, SPCX will trade as a vertically integrated group spanning rockets, satellite broadband, frontier AI, a social media platform, and a planned orbital data-center business.
Musk Control
Elon Musk will retain 85% voting control through Class B shares, and his proposed compensation package includes 1 billion performance-based shares tied to achieving a permanent human colony on Mars with one million inhabitants.