SpaceX · Elon Musk · Anthropic · Starlink · Fortune Technology
Elon Musk’s SpaceX has, at long last, filed its prospectus for what’s expected to be the largest initial public stock
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In an S-1 filing brimming with glossy color photos of rockets and space, and peppered with pull quotes highlighting Musk’s musings, the company disclosed plans Wednesday to list its shares on the Nasdaq and Nasdaq Texas under the ticker “SPCX.”
Key facts
- That would be well above the previous IPO record holder, Saudia Arabian oil giant Saudi Aramco, which raised $26 billion in 2019
- As of March 31, SpaceX has racked up an “accumulated deficit” of $41.3 billion, with a $4.27 billion net loss in Q1 of this year, compared to $528 million in the year ago quarter
- Anthropic will pay SpaceX $1.25 billion a month through 2029 in exchange for the cloud computing capacity it needs to run its popular AI models, according to Wednesday’s S-1 filing
- SpaceX has also entered into a deal with Cursor, an AI code writing program, that gives it the option to acquire the company for $60 billion or pay a $10 billion termination fee
Summary
Elon Musk’s SpaceX has, at long last, filed its prospectus for what’s expected to be the largest initial public stock offering ever. In an S-1 filing brimming with glossy color photos of rockets and space, and peppered with pull quotes highlighting Musk’s musings, the company disclosed plans Wednesday to list its shares on the Nasdaq and Nasdaq Texas under the ticker “SPCX.” The IPO prospectus provided the first official look at the financials behind the much-hyped rocket maker that’s been around since 2002, as well as at several other businesses that Musk has folded into the company including AI, social media, and the Starlink satellite communications business.
As of March 31, SpaceX has racked up an “accumulated deficit” of $41.3 billion, with a $4.27 billion net loss in Q1 of this year, compared to $528 million in the year ago quarter.