SpaceX IPO live updates: Elon Musk's company set for biggest market debut ever

SpaceX has been a hot topic on Reddit’s WallStreetBets, the discussion forum that became synonymous with the meme stock craze.

The rocket startup has been mentioned more than 1,600 times on the platform since Monday, according to data shared with CNBC by meme stock tracker Breakout Point. Those numbers have made it one of the most-discussed companies on WallStreetBets in the days leading up to the IPO, Breakout Point’s data shows.

—Alex Harring

According to IPO filings, the company has racked up a deficit of around $41.3 billion since it was founded in 2002.

It has already spent more than $15 billion to develop its massive, Starship rocket, which it intends to be fully re-usable in the future. Starship is also meant to bring NASA astronauts back to the surface of the moon, and eventually to Mars.

SpaceXsaid in its prospectus that its connectivity unit, primarily comprised of Starlink, generated $11.39 billion in 2025, accounting for 61% of total sales. In the first quarter of this year, it climbed to 69% of total sales.

The company cautioned investors in its prospectus about its history of net losses, and that it may not achieve profitability in the future. It lost $4.9 billion last year, and $4.28 billion in the first quarter of 2026, alone with both capital and operating expenses expected to increase as it spends heavily on Starship and AI initiatives.

—Lora Kolodny

The capital raised in the IPO is expected to fund the further development of SpaceX’s massive Starship rockets, which are currently in a test flight phase and are not yet fully re-usable.

The company will also use the funding for future AI products and infrastructure, including a chip factory known as Terafab that SpaceX will build with Tesla and Intel in Texas.

—Lora Kolodny