SpaceX not the behemoth everyone thought
Summary
SpaceX is planning a very large stock market debut, but its financial report shows the company is losing a lot of money and depends heavily on hopes for future growth. Its most profitable part is the Starlink internet service, while other parts like the AI division bring in less revenue.Key Facts
- SpaceX filed paperwork for an initial public offering (IPO) expected to be the largest ever.
- The company lost $4.9 billion but made $18.67 billion in revenue in 2025.
- Many companies in the S&P 500 earned more revenue than SpaceX, including Tesla, which made five times more.
- The AI unit with X and xAI earned $818 million in the first quarter of 2026, less than Twitter did before Elon Musk bought it.
- Anthropic agreed to pay SpaceX $1.25 billion every month for computing power.
- Starlink, the internet service, is SpaceX’s only profitable part and made most of the revenue in early 2026.
- SpaceX will start trading on Nasdaq next month under the symbol "SPCX."
- AI companies OpenAI and Anthropic plan to go public later in the year.
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