The SpaceX IPO filing has arrived

SpaceX has made its IPO S-1 public after a confidential April filing, paving the way for a potential Nasdaq debut under ticker SPCX.

The filing shows Starlink is the company’s main revenue driver, while SpaceX has posted large losses since inception.

SpaceX also disclosed heavy 2025 spending on its AI efforts, along with legal costs tied to Musk’s other companies.

Even after the planned listing, Musk is expected to keep majority voting control, underscoring his continued grip on the company.