Pioneering space transportation company SpaceX has officially initiated its public offering process. In its latest filing with the U.S. Securities and Exchange Commission (SEC), the company revealed its intention to list on Nasdaq under the ticker “SPCX.” This move, under the leadership of Elon Musk, could make SpaceX one of two major publicly traded companies alongside Tesla.
First official filing and ownership structure
SpaceX had initially submitted its IPO documents confidentially in April. The newly disclosed public registration provides investors with a detailed look at the company’s financial results and governance model. The documents show Elon Musk retains 85% of the voting power, holding approximately 849.5 million Class A and 5.57 billion Class B shares. No other person or institution holds a direct stake above 5%, underscoring Musk’s distinctive control.
Financial growth and losses
SpaceX reported total projected revenue of $18.67 billion for 2025, a 33% jump compared to the previous year. In the last quarter, revenue climbed to $4.07 billion, reflecting 15% quarterly growth, while total receipts for the period reached $4.69 billion. Despite rising revenues, the company posted a loss of $4.28 billion for the last quarter and a total of $4.94 billion for all of 2025. These losses stem from aggressive investments in rockets, satellites, computing infrastructure, and artificial intelligence as SpaceX aims to accelerate expansion.
SpaceX documents clearly state that the company holds 18,712 Bitcoin among its crypto assets, valued at more than $1.4 billion.
Glossary: Anthropic is an AI-focused company recognized for developing secure artificial intelligence models and software. Large-scale agreements with SpaceX and the Colossus 1 facility underpin a robust computing infrastructure for cutting-edge applications.
AI investments and deal with Anthropic
Another key disclosure in the filing is SpaceX’s computing capacity agreement with Anthropic. Under the terms, the entire 300-megawatt computing power at the Colossus 1 facility in Memphis, Tennessee, will be dedicated to Anthropic until May 2029. SpaceX will receive monthly payments of $1.25 billion for this service. Either party can terminate the contract with 90 days’ notice, and further details indicate that both capacity and pricing terms may evolve in upcoming months.
Anthropic is also reportedly exploring a deeper partnership with SpaceX, aiming to build much larger computing clusters in space, according to the company’s filings.
Starlink, Starship, and workplace safety
The company’s filings also shed light on the current status of Starlink, SpaceX’s satellite internet division. Starlink has reached 10.3 million subscribers, gaining traction particularly in rural areas. Expanding through deals with public sector organizations and overseas telecom operators, Starlink has positioned itself as a formidable competitor to incumbent internet providers in several markets.
| Service | Subscriber Count | Competitive Status |
|---|---|---|
| Starlink | 10.3 million | Gaining ground in rural and international markets |
| Comcast | Several million (exact figures not regularly disclosed) | Traditional provider across the U.S. |
During this period, one worker died at the company’s Texas facility. Citing Reuters, the filings indicate that SpaceX has also seen hundreds of undocumented worker injuries.
SpaceX is preparing to launch a new version of its Starship vehicle into space this week, though safety and operational risks related to the project remain a concern.
Next steps in AI strategy
SpaceX acquired xAI, an artificial intelligence startup founded by Elon Musk, in February. Earlier this month, Musk announced that xAI would be reorganized to bring all AI product development under the SpaceX umbrella, eliminating it as a standalone company. This signals a renewed focus on expanding SpaceX’s AI strategy internally.
