Elon Musk’s SpaceX goes public on Nasdaq as SPCX, discloses $1.4 billion in Bitcoin

Elon Musk’s SpaceX has taken its IPO plan into the open with a new SEC filing, and the company wants to trade on the Nasdaq under ticker SPCX.

Elon already runs Tesla (NASDAQ: TSLA), so a strong debut could leave him in charge of two public companies valued around the trillion-dollar level.

The company first sent its IPO papers to regulators privately in April. The public filing now gives investors the numbers. SpaceX is targeting a June 8 roadshow to sell the deal to big funds.

Elon holds 85% of the voting power, with 849.5 million Class A shares and 5.57 billion Class B shares. The filing also says nobody else, either a person or an entity, owns more than 5% of the company.

SpaceX gives investors its sales, losses, Bitcoin, and control structure

According to SpaceX, it earned revenue of $4.69 billion for the quarter while its quarterly revenue increased by 15%, totaling $4.07 billion. As for the preceding year, the company’s revenue for 2025 stood at $18.67 billion while being higher by 33%.

The profit situation is a little more complicated because SpaceX has suffered losses of $4.28 billion in the latest quarter while losing $4.94 billion in 2025. Thus, the company is experiencing rapid growth but has to invest heavily in its rockets, satellites, computing, and artificial intelligence developments. Moreover, SpaceX revealed that it has 18,712 bitcoins that exceed the amount of $1.4 billion.

The filing emphasizes an essential artificial intelligence computing agreement between SpaceX and Anthropic. In accordance with the terms, SpaceX will receive payments of $1.25 billion per month until May 2029 from Anthropic. All capacity offered by SpaceX’s Colossus 1 facility located in Memphis, Tennessee, will be used by Anthropic, which amounts to over 300 megawatts of computing power.

Additionally, there is indication that Anthropic expressed an interest in collaborating with SpaceX for computing capacity in space, which could amount to several gigawatts. The filing indicates that capacity will be increased starting in May and June at reduced rates. Terminating this agreement can happen by either party after giving 90 days’ notice.

SpaceX adds Starlink, Starship, safety risks, and AI plans to the IPO story

SpaceX is also preparing to launch a newer version of Starship this week. That part of the business still carries heavy risk. A worker died last week at a SpaceX site in Texas after falling from scaffolding, The Texas Tribune reported. Reuters has also reported hundreds of worker injuries at SpaceX that were not publicly recorded.

The filing includes Starlink, the satellite internet unit owned by SpaceX. Starlink now has 10.3 million subscribers. The service has been popular in rural areas and has expanded through deals with governments and foreign telecom companies. Some of those overseas deals came while Elon was serving in government last year.

Starlink also competes with major broadband providers in some places, including Comcast (NASDAQ: CMCSA), the parent company of NBCUniversal.

Most of SpaceX’s $4.69 billion first-quarter revenue came from Starlink.

The company splits its operations into three parts: Space, Connectivity, and AI. Connectivity covers Starlink, the satellite internet service sold to regular customers, governments, and military clients.

Starlink brought in $3.26 billion during the quarter, making up 69% of total revenue. Connectivity was also the only part of SpaceX that made an operating profit. The Space unit lost $619 million in the quarter, while the AI unit lost $2.5 billion. Connectivity posted a $1.19 billion profit.

AI is now part of the same company story. SpaceX bought Elon’s AI startup xAI in February. Elon said earlier this month that he plans to dissolve xAI as a separate company and put SpaceX in charge of all his AI products.

Elon said:

“As the recently expanded partnership with Anthropic demonstrates, SpaceX is offering AI compute as a service at significant scale. We are in discussions with other companies to do the same. Over time, especially with orbital data centers, we expect to serve AI at extremely high scale.”