Elon Musk's SpaceX has filed documents for its first public IPO and revealed extensive financial information, expected to be the largest IPO in history, pushing the company's valuation past $1.25 trillion.
On 21 May 2026, SpaceX, owned by billionaire Elon Musk, founder of Tesla and X, officially filed documents to offer shares to the public for the first time (IPO), marking a major milestone for one of the world's most influential and closely watched private space companies.
The 277-page prospectus disclosed extensive internal company data including board members, revenues, expenses, profits and losses, and business plans. SpaceX will trade under the ticker SPCX. However, the company has not yet revealed the amount it intends to raise or its valuation, which is expected to be announced before the stock market debut.
Many analysts believe this listing could become the largest IPO in world history, potentially valued many times higher than previous major IPOs. This move could also elevate Elon Musk to become the world’s first trillionaire. Meanwhile, there is growing interest from South Korea.
In the filing, SpaceX outlined its long-term mission to develop technology enabling humans to live on multiple planets, understand the universe's nature, and expand human civilization to the stars. The company plans to continue expanding the Starlink satellite network and develop large-scale artificial intelligence (AI) infrastructure to support scientific research, as well as build bases on the moon and cities on other planets in the future.
However, these ambitious plans require massive investment. Although SpaceX’s revenue has steadily increased, the company posted $18.7 billion in revenue in 2025—about 680 billion baht—a 33% rise from the previous year, it recorded a net loss of $4.9 billion (around 179 billion baht) after previously reporting a $791 million profit in 2024.
In the first quarter of 2026 alone, SpaceX lost $4.3 billion (over 157 billion baht) on revenue of $4.7 billion, with most expenses related to AI investments, which totaled $12.7 billion (about 463 billion baht) last year.
SpaceX estimates its total addressable market to be as high as $28.5 trillion (approximately 1,040 trillion baht), especially in AI, space infrastructure, satellite internet, and space-based data centers.