Musk makes history (again) - SpaceX - the largest initial public offering ever! $SPCX
SpaceX is approaching one of the most talked-about offerings in the stock market, with an estimated valuation of over $1.8 trillion and an expected offering on Nasdaq under the ticker $SPCX.
If these figures materialize, this could be the largest fundraising ever seen in the public market - over $80 billion.
Key offering data:
Ticker: $SPCX Exchange: Nasdaq Estimated valuation: over $1.8 trillion Expected offering date: June 12 Expected fundraising: over $80 billion
Financial data:
Fiscal year 2025:
Revenue: $18.7 billion Operating loss: $2.6 billion
Revenue segmentation shows how SpaceX is no longer just a space company:
Connectivity revenue (Starlink): $11.4 billion Space sector revenue: $4.09 billion Artificial intelligence revenue: $3.2 billion
The AI sector includes revenue from advertising on the X platform and Grok subscriptions from xAI - indicating that Elon Musk's ecosystem is beginning to operate as a single system connecting space, communication, data, and artificial intelligence.
The strategic direction is also evident on the investment side:
Capital expenditures in 2025:
Artificial intelligence sector: $12.73 billion Connectivity sector: $4.18 billion Space sector: $3.83 billion
In other words, the AI sector already attracts more capital investments than all other activities combined.
First quarter 2026 data:
Revenue: $4.7 billion Operating loss: $1.9 billion
Revenue segmentation:
Starlink connectivity: $3.26 billion Space: $619 million Artificial intelligence: $818 million
One of the most intriguing figures in the documents is the agreement with Anthropic:
Anthropic is expected to pay SpaceX approximately $1.25 billion per month until May 2029 for data center and AI computing services.
This figure illustrates how computing and energy infrastructure have become a key strategic asset in the age of artificial intelligence.
The company's control structure remains exceptionally unusual even after the offering:
Elon Musk holds approximately 85% of the company's voting power, and together with other senior executives and interested directors, they control approximately 86% of the combined voting power.
This means that even after going public, SpaceX is expected to remain under the almost complete control of Musk and the company's management.
Big days ahead