SpaceX, Elon Musk’s rocket and satellite internet company, filed for a US$75 billion initial public offering that would value it at about US$1.77 trillion.

It plans to sell 555.6 million shares at US$135 each before a Nasdaq debut on June 12, according to its filing.

An S-1 registration statement is on the US Securities and Exchange Commission’s EDGAR system.

The filing said first-quarter revenue rose 15% year on year to US$4.69 billion, and net loss was US$4.28 billion.

Capital expenditures reached US$10.1 billion, and SpaceX warned it may not become profitable.

SpaceX said Starlink accounted for most of its revenue.

Independent analyst estimates put Starlink’s subscriber count at 2.7 million at the end of March 2024 and projected US$6.6 billion in 2024 revenue.

Musk controls more than 82% of SpaceX’s voting power, and SpaceX acquired xAI in February before folding it into the company’s AI division.

The proposed valuation is more than double the roughly US$800 billion level from a late-2025 insider share sale that valued the company privately.

Starlink also faces US spectrum disputes that could affect mobile and direct-to-device expansion.

🔗 Source: CNBC

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