SpaceX Files for IPO with Starlink Revenue at $11 Billion

SpaceX submitted its S-1 filing to the Securities and Exchange Commission after markets closed Wednesday. The document provides financial details and outlines business operations ahead of a planned public listing on the Nasdaq exchange later this year. 9 billion. Starlink satellite internet generated around $11 billion, accounting for more than half of total revenue.

The company has recorded cumulative losses exceeding $37 billion since its founding. In 2025, SpaceX allocated approximately 60 percent of capital spending, or about $20 billion, to its artificial intelligence division. The AI division, which includes the Grok chatbot, recorded revenue growth of about 22 percent last year.

The filing lists 36 pages of risk factors and notes potential legal costs of $530 million related to prior mergers.

SpaceX plans to begin payload delivery to orbit with Starship in the second half of 2026. The company spent $3 billion on Starship research and development in 2025 and $930 million in the first quarter of 2026. The filing states that Starship is intended to reduce launch costs by 99 percent or more compared with historical averages.

The company expects to use Starship for Starlink satellite launches in the second half of 2026 and for next-generation V2 mobile satellites in 2027.

SpaceX listed several long-term objectives in the filing, including orbital AI data centers, in-space manufacturing, and point-to-point Earth transport. These projects are described as future markets rather than near-term activities. Elon Musk is listed as the company's CEO, CTO, and Chairman of the board after the IPO. 1 percent of voting power through ownership of Class B stock.