SpaceX Files for Nasdaq IPO Under SPCX Symbol

SpaceX, led by Elon Musk, has filed for an Initial Public Offering (IPO) on the Nasdaq under the symbol SPCX. The company reported first quarter revenues of nearly $5 billion, positioning itself as the leading satellite broadband provider with approximately 10.3 million Starlink subscribers. SpaceX's total revenue for the last full year was $11.4 billion. The company also plans to use IPO funds to develop data centers in space for running AI workloads, aiming to make them more competitive than Earth-based data centers on a cost-per-token basis.