BlockBeats news: On May 21, SpaceX officially filed a Form S-1 registration statement with the U.S. Securities and Exchange Commission (SEC), planning to list on Nasdaq under the ticker symbol "SPCX." The underwriting syndicate includes Goldman Sachs, Morgan Stanley, Bank of America Securities, Citigroup, and J.P. Morgan Securities.
The filing shows that SpaceX will issue Class A and Class B common shares, with Class A granting one vote per share and Class B granting ten votes per share. Musk currently holds 12.3% of Class A shares and 93.6% of Class B shares, giving him a total of 85.1% of the voting power. After the IPO, Musk will continue to serve as CEO, CTO, and Chairman of the Board.
Financially, SpaceX reported revenue of $4.694 billion and an operating loss of $1.943 billion for the first quarter of this year; full-year revenue for 2025 was $18.67 billion, with a net loss of $4.276 billion in the first quarter. Of this, the AI division generated $818 million in revenue during the first quarter, while the space business contributed $619 million in revenue.
The company disclosed that its AI platform, integrated with Grok and X, has had over 1.3 billion active users over the past 12 months. Additionally, SpaceX stated that it signed a cloud services agreement with Anthropic in May.
In terms of future plans, SpaceX intends to establish manufacturing infrastructure on the Moon and Mars, with orbital AI computing satellites expected to be deployed as early as 2028. The company also aims to explore long-term business opportunities such as asteroid mining and financial services, including products like payments and banking.
The company also expects thousands of rocket launches annually in the future and believes space exploration will give rise to a lunar, Martian, and deep-space economy worth trillions of dollars.
In addition, the documents show that Cursor has a right to a $1.5 billion termination fee and a $8.5 billion deferred service fee entitlement. SpaceX also indicated that it does not anticipate paying dividends to Class A shareholders in the foreseeable future.