Share to ClassroomSpaceX IPO Papers Show Mars Goals
SpaceX, Elon Musk's rocket company, filed papers on Wednesday for what may be the largest initial public offering (IPO) in US history. The company plans to start trading on Nasdaq on June 12 with a value between $1.25trillion and $1.75trillion. The 300-page document shows unusual details about Mars plans and warnings about an artificial intelligence (AI) chatbot.
The filing repeats that SpaceX wants to build permanent towns on the Moon and Mars. Musk will get one billion extra company shares if SpaceX places one million people on Mars. The document also shows that SpaceX spent $131million on Tesla Cybertrucks in 2025, plus $4million on Musk's personal security team. It also warns about Grok, the chatbot from xAI, which SpaceX bought in February 2026. SpaceX says Grok's 'Spicy' and 'Unhinged' modes could create harmful or false content, which could lead to lawsuits.
The financial numbers are mixed. SpaceX earned $18.6billion in 2025, up 33% from the year before. But it lost $4.9billion in 2025 and $4.3billion in early 2026. The company admits it 'may not make a profit in the future.' SpaceX says its long-term market could be worth $28.5trillion across AI, Starlink, and space services. Analysts expect SpaceX to raise about $80billion on June 12.
