SpaceX Files for IPO with Starlink and AI Focus

SpaceX released the contents of its S-1 filing after markets closed Wednesday. 9 billion. Starlink accounted for more than half of that revenue, bringing in about $11 billion. The company has lost more than $37 billion since its founding.

And xAI Integration SpaceX directed around 60 percent of its 2025 capital spending, or about $20 billion, to its AI division. The division, which includes the Grok chatbot, grew revenue by 22 percent last year. The filing states that legal costs tied to the absorption of Musk's artificial intelligence and social media companies could reach $530 million.

SpaceX plans to begin payload delivery to orbit with Starship in the second half of 2026. The company expects to use the rocket to launch Starlink satellites later that year and next-generation V2 satellites in 2027. The space segment spent $3 billion on Starship research and development in 2025 and $930 million in the first quarter of 2026.

The filing lists several future markets, including point-to-point Earth transport, space tourism, in-orbit manufacturing, and asteroid mining. These activities are described as longer-term opportunities. Musk will serve as CEO, CTO, and Chairman of the board after the IPO. 1 percent of the voting power through his ownership of Class B shares.