Elon Musk SpaceX

Elon Musk's SpaceX is preparing to go public in what could be the biggest initial public offering (IPO) in history. The company has filed financial information with regulators, revealing plans to trade under the ticker symbol SPCX on the Nasdaq stock exchange. SpaceX has valued itself at $1.25 trillion, which could make Musk the world's first trillionaire. The IPO could also set off a blockbuster year for Wall Street, with potential listings from OpenAI and Anthropic, makers of ChatGPT and Claude, respectively. The filing shows that SpaceX generated $18.7 billion in revenue last year, but recorded an operating loss of $2.6 billion. The company's Starlink satellite business was its biggest financial engine, generating more than $11.4 billion in revenue. However, its social media platform X and artificial intelligence business xAI lost money, with xAI posting an operating loss of $6.4 billion. Musk's plans for lunar and Mars missions and to expand its Starlink satellite internet business depend on the success of its next-generation Starship rocket. The company has adopted provisions that limit shareholder rights and protect Musk from being fired, with Musk controlling 85% of the company's voting power.