Everyone's been waiting for this. SpaceX filed its S-1 in May 2026 and the IPO is coming — likely within 90 days of the filing. The ticker is SPCX. The valuation heading in is somewhere north of $350 billion, though some analysts are throwing around numbers closer to $500 billion depending on how the Starlink revenue multiple gets treated.
Key Facts from the S-1 Filing
- Filing date: May 20, 2026
- Ticker: NASDAQ: SPCX (also listed on Nasdaq Texas)
- Headquarters: 1 Rocket Road, Starbase, Texas 78521
- xAI Merger completed: February 2, 2026
- X Holdings acquired by xAI: March 28, 2025
- 5-for-1 stock split: May 4, 2026
- Share structure: Class A (1 vote) and Class B (10 votes per share)
- Elon Musk controls majority through Class B shares
- Lead underwriters: Goldman Sachs, Morgan Stanley, BofA Securities, Citigroup, J.P. Morgan
- COLOSSUS location: Paul R. Lowry Road, Memphis, Tennessee
- COLOSSUS II locations: Memphis, Tennessee and Southaven, Mississippi
Primary source: Read the full S-1 filing →
Here's what's actually interesting about this IPO and why it's different from every other tech listing in history.
SpaceX isn't going public because it needs the money. Starlink alone generated $11.4 billion in revenue in 2025. The company has been cash-flow positive for years. The IPO is happening because Elon said it would happen once Starlink revenue was "roughly" the size of the rest of SpaceX — and that threshold has been hit.
What you're actually buying when you buy SPCX is a bet on four things simultaneously: Starlink's continued subscriber growth (currently 5 million plus, targeting 50 million), Starship's commercial launch manifest (NASA Artemis, point-to-point Earth transport, Mars), the SpaceXAI division including Grok and Colossus, and the Cursor acquisition if it closes post-IPO.
Buried in the S-1 glossary is another reveal: Macrohard, a platform SpaceX is developing to create a fully AI-operated software company. That's the endgame for the Cursor and Grok integration — not just AI-assisted development, but autonomous software development at scale.
That's a rocket company, a satellite internet provider, a frontier AI lab, and the fastest-growing software startup in history — all in one ticker.
The $10 billion Anthropic compute contract running through May 2029 also shows up in the S-1 as guaranteed recurring revenue. That's not nothing for a company that used to be valued purely on launch manifest.
SPCX is going to be the most watched IPO since Meta. Probably more watched. Get familiar with the name.