SpaceX IPO | S-1 Breakdown
We analyzed what will be the largest IPO ever.
SpaceX filed its S-1 last week, and we read all 318 pages so you don’t have to. The result: three businesses in one — Space, Connectivity (Starlink), and AI. AI is set to become the largest revenue segment within a year.
The company did $18.7B in FY25 revenue, up 33% YoY, and is reportedly expecting a $1.75T valuation that would make it a top-10 company globally.
The entire breakdown is linked here.