SpaceX is officially moving toward a public listing on the Nasdaq, marking one of the most significant initial public offerings in recent history. Following a filing with the Securities and Exchange Commission, the company plans to trade under the ticker symbol SPCX. This move follows a massive valuation of $1.25 trillion, bolstered by the recent merger with Elon Musk’s artificial intelligence startup, xAI.

The company’s revenue streams are diverse, spanning aerospace, satellite internet, and artificial intelligence. Starlink, SpaceX’s connectivity division, remains a primary driver of growth, accounting for 69% of the company’s $4.69 billion in first-quarter revenue. While the space and AI segments have faced significant operating losses due to heavy infrastructure investment, the Starlink service has proven profitable, generating $1.19 billion in the most recent quarter.

A significant portion of SpaceX’s capital expenditure is being directed toward the burgeoning AI sector. The company is aggressively investing in data centers and cloud infrastructure, with plans to deploy orbital data centers as early as 2028. This strategy includes high-profile partnerships, such as a compute deal with Anthropic and a potential $60 billion acquisition of the coding startup Cursor.

Elon Musk continues to maintain dominant control over the company, holding 85% of the voting power. Interestingly, the company’s prospectus reveals a unique incentive structure for Musk: a massive grant of performance-based shares that are tied to the establishment of a permanent human colony on Mars with at least one million inhabitants. Under the leadership of President Gwynne Shotwell, SpaceX continues to expand its footprint from its Texas-based Starbase headquarters.