Elon Musk’s company aims to raise up to US$75 billion in its IPO
SpaceX recorded a net loss of US$4.28 billion in the 1st quarter of 2026, according to a document presented to the SEC (Securities and Exchange Commission), the regulatory body for the United States capital markets. The company had revenue of US$4.69 billion in the period. In the same period of 2025, it had recorded a loss of US$528 million and revenue of around US$4 billion.
Elon Musk’s rocket, satellite and artificial intelligence company aims to raise up to US$75 billion in its IPO. The operation could value the company at up to US$2 trillion, a value higher than that of almost all companies in the S&P 500 and also that of Tesla, another company led by Musk. The information is from .
The document shows a growing company, but with strong cash consumption. SpaceX’s annual revenue was $18.7 billion in 2025, up from $14 billion the previous year. In the same period, the company went from a profit of US$791 million in 2024 to a loss of US$4.94 billion in 2025.
Most of the revenue comes from Starlink, SpaceX’s satellite internet service. The area accounted for around 2/3 of sales in the 1st quarter of 2026. The number of subscribers increased from 2.3 million in 2023 to 4.4 million in 2024 and 8.9 million in 2025. Starlink’s operating revenue reached US$4.42 billion last year, compared to US$2 billion the previous year.
Here is some SpaceX financial data:
- net loss of US$4.28 billion in the 1st quarter of 2026;
- revenue of US$4.69 billion in the same period;
- annual revenue of US$18.7 billion in 2025;
- loss of US$4.94 billion in 2025;
- capital expenditure of $20.74 billion last year;
- losses of US$6.36 billion in artificial intelligence operations.
SpaceX also said it intends to use solar-powered satellites to bring artificial intelligence computing power to space. The company states that the total potential market in this area would reach US$28.5 trillion.
The IPO plan keeps Musk in control of the company. He has 85.1% of the voting power, although he owns 12.3% of Class A shares and 93.6% of Class B shares. These shares have 10 votes each. The document also indicates that Musk could receive up to 1 billion shares if he reaches goals, including a human settlement on Mars with at least 1 million inhabitants.
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