Elon Musk's SpaceX files for biggest-ever IPO in history under ticker SPCX. Here's all you need to know about it

SpaceX has filed for its long-anticipated initial public offering, revealing new details about its business model, ownership structure, and future ambitions as investors prepare for what could become the largest IPO in history. The company, founded and led by Elon Musk, is reportedly targeting a valuation that could raise $80 billion or more, surpassing the previous record held by Saudi Aramco, which raised $26 billion in its 2019 public listing.

Massive market opportunity projection

In its IPO filing, SpaceX estimates a total addressable market (TAM) of $28.5 trillion, describing it as the ‘largest actionable’ market opportunity ‘in human history’.

The breakdown includes:

• $370 billion in space-enabled services
• $1.6 trillion in connectivity, including Starlink broadband and mobile expansion
• $26.5 trillion in artificial intelligence-related markets, spanning infrastructure, subscriptions, advertising, and enterprise applications
• $22.7 trillion in enterprise applications

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What is the stock symbol for SpaceX?

The filing shows that SpaceX plans to trade under the ticker symbol ‘SPCX’ once it goes public next month. The stock will be dual-listed on the Nasdaq Stock Market and Nasdaq Texas, marking a competitive win for Nasdaq in attracting high-profile listings.

Who are the board members of SpaceX?

SpaceX disclosed its board structure, with Elon Musk serving as chairman. Other board members include long-time SpaceX president Gwynne Shotwell, Google executive Donald Harrison, and investors Antonio Gracias, Steve Jurvetson, and Luke Nosek. Randy Glein and Ira Ehrenpreis recently joined as directors.

How much did SpaceX spend last year?

The company reported $20.7 billion in capital expenditures last year, driven by investments in launch systems, satellites, AI infrastructure, and its expanding Starlink network. The Starlink division remains central to revenue growth, with more than 10 million subscribers as of March, doubling year over year. SpaceX reported total revenue of approximately $18.7 billion in 2025, with Starlink alone generating more than $11 billion. The company described Starlink as capable of delivering broadband connectivity anywhere on Earth. It also identified telecom giants such as AT&T and Verizon as competitors in the global internet market.

AI satellite project won’t be easy: SpaceX

SpaceX also outlined plans for an orbital AI computing network, potentially beginning deployment as early as 2028. However, the company acknowledged major technical hurdles. “Orbital AI compute is an incredibly difficult technical challenge,” the company said in its prospectus. “We believe we are the only company with a commercially viable path to building orbital AI compute at scale.” The initiative depends heavily on the successful development of the Starship rocket, which is expected to play a key role in deploying large-scale satellite infrastructure.