Elon Musk’s SpaceX has confidentially filed its IPO paperwork with the SEC, putting the company on track for a potential July listing that could raise between $40 billion and $80 billion. That would dwarf Saudi Aramco’s $29 billion debut in 2019 as the largest IPO ever.
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The filing will force SpaceX to open its books for the first time. The space side reportedly cleared around $8 billion in profit on $15 billion to $16 billion in revenue last year, nearly all of it Starlink.
Then there’s xAI, folded in through February’s $1.25 trillion merger and burning roughly $1 billion a month with all the original co-founders already out the door. The IPO roadshow is a pitch that Starlink’s margins can carry xAI’s ambitions long enough for orbital data …
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