SpaceX files for IPO as it expands into AI infrastructure and orbital data centers

SpaceX has filed for what could become one of the biggest stock market debuts in history, while also laying out a sweeping plan to expand beyond rockets and satellite internet into artificial intelligence infrastructure, solar manufacturing and, eventually, orbital data centers. The company’s long-awaited IPO filing, reported by Bloomberg and covered by the BBC, says the Elon Musk-led firm plans to trade under the ticker SPCX and could give Musk a path to a trillion-dollar personal fortune if the market values the company at the levels being discussed.

The filing also shows how central SpaceX has become to Musk’s broader business empire. According to Bloomberg, Musk has used SpaceX’s financial strength to reduce interest costs across his companies by nearly $1 billion a year, while Business Insider reported that SpaceX conducted more than $660 million in transactions last year with Tesla and The Boring Company. Another Business Insider report said SpaceX bought Tesla Megapacks and $131 million worth of Cybertrucks, underscoring how closely Musk’s businesses now operate with one another.

Investors are watching not only the scale of the IPO, but also the voting structure behind it. TechCrunch reported that Musk would keep more than 50% of the voting power in the publicly traded company, giving him unusually tight control even after the listing. That level of influence, along with the company’s dominance in launch services and Starlink satellite internet, is likely to be a key focus for prospective shareholders as SpaceX makes its case to Wall Street.

The company’s pitch goes well beyond space travel. Bloomberg said SpaceX is framing its future around a roughly $26.5 trillion AI market, arguing that demand for computing power will stretch from Earth into orbit. The filing describes ambitions that include orbital data centers, advanced AI systems and other infrastructure designed to handle the growing need for machine intelligence. Bloomberg also reported that SpaceX is nearing a deal to acquire Cursor, the AI coding startup, which recently reached an annualized revenue run rate of $3 billion, according to a person familiar with the matter.

That strategy would require enormous amounts of power, which helps explain another major development: SpaceX has filed permits for a 10-gigawatt solar manufacturing facility near Austin, in Bastrop County, according to Bloomberg and other reports. A factory of that size would be among the largest solar manufacturing operations in the United States and would support the company’s long-term plans for powering satellites, AI systems and space-based computing. SpaceX is reportedly preparing to make solar hardware for next-generation Starlink satellites and for orbital data centers that Musk has discussed publicly in recent months.

The IPO comes as SpaceX also faces operational and political questions. The BBC reported that the company postponed a Starship launch just one day after unveiling its stock market plans. Meanwhile, Fast Company noted that a new SEC filing highlights political risk as a major issue, given SpaceX’s dependence on government contracts, regulation and public policy. The company’s growing ties to Musk’s other ventures, and the scale of the ambitions described in the filing, mean the offering will be closely examined not just as a space story, but as a test of whether investors are willing to back Musk’s vision of a company that connects rockets, satellites, AI and energy on a single balance sheet.