SpaceX Files for Nasdaq IPO Under Ticker SPCX
CNBC reported Wednesday that SpaceX has filed a formal prospectus with the Securities and Exchange Commission, setting the stage for a Nasdaq debut under the ticker symbol SPCX.
The filing cements what is expected to be one of the largest public offerings in history. A February merger with Elon Musk‘s artificial intelligence venture xAI had already placed the company’s valuation at $1.25 trillion. New investors will be entering at that eye-watering level.
Bankers, Timeline, and a June Roadshow
Goldman Sachs is leading the underwriting effort. Morgan Stanley, Bank of America, Citigroup, and JPMorgan Chase round out the syndicate. SpaceX had quietly submitted a confidential filing to the SEC in April. The company is now targeting a roadshow launch on June 8 to pitch institutional investors ahead of a likely listing next month. Follow-on filings are expected to disclose a per-share pricing range and a fuller breakdown of major shareholders.
A Business That Spans Rockets, Satellites, and Social Media
SpaceX was founded in 2002 to build reusable rockets. It has since grown into NASA’s primary commercial launch partner following the retirement of the Space Shuttle in 2011. Today its revenue streams stretch well beyond aerospace. The Starlink broadband service operates a constellation of roughly 10,000 satellites. The xAI unit now houses the Grok assistant and the social network X, the platform Musk acquired from Twitter in 2022. Together, X and Grok added $365 million in subscription revenue across all of 2025 and a further $177 million in the first quarter of 2026 alone. Advertising revenue on X, however, fell by $100 million in the first quarter as engineers overhauled the platform’s ad technology, a sharp contrast to growth posted by Meta, Pinterest, and Reddit over the same period.
Background: A Long Road to the Public Market
For years, Musk resisted taking SpaceX public, preferring to keep the rocket maker outside Wall Street’s quarterly scrutiny. The company accumulated substantial losses along the way while funding ambitious programs including Starship, its fully reusable super-heavy launch vehicle. The xAI merger earlier this year brought X’s balance sheet and the Grok product line under the SpaceX umbrella, substantially widening both the asset base and the loss picture investors will now absorb. The prospectus identifies a total addressable market of $28.5 trillion, covering broadband, mobile, digital advertising, and AI infrastructure.
What Comes Next for the IPO Pipeline
If SpaceX completes its listing, it would hand Musk control of two separate publicly traded companies each valued above $1 trillion. OpenAI and Anthropic are also watching the public markets, with both reportedly weighing their own offerings later in 2026.
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