SpaceX IPO: Inside the S-1 filing, potential valuation, and what Elon Musk's empire means for the market (www.businessinsider.com)

SpaceX has officially filed its S-1, marking a significant step towards what could become the largest IPO in history. The filing reveals a company that extends far beyond its rocket launch services, aiming to tap into a staggering total addressable market of $28.5 trillion, primarily driven by its advancements in AI. SpaceX reported $18.7 billion in revenue for 2025, alongside a $4.9 billion loss linked to substantial investments in its AI initiatives and projects like Starlink, space data centers, and even a vision for asteroid mining and a Mars colony. Elon Musk’s control remains a focal point, as he will maintain over 85% of voting power while serving as CEO and board chairman. The IPO highlights SpaceX's intertwined relationship with Musk's broader business empire—showing substantial financial interactions with Tesla and xAI, and monetizing AI infrastructure through contracts like the $1.25 billion monthly deal with Anthropic for access to its Colossus data centers. As banks prepare for the listing under the ticker "SPCX," the implications could ripple throughout the market, influencing not only investor sentiment but also potentially setting a precedent for future tech IPOs.