SpaceX publicly filed documents related to its initial public offering with the U.S. Securities and Exchange Commission and said it plans to trade on Nasdaq under the ticker "SPCX".

On May 20, local time, foreign media outlets including IT publication Engadget reported that SpaceX moved its previously confidential S-1 filing to a public filing, accelerating its listing process. The public filing is the first time SpaceX has disclosed its financial structure and governance to investors since it submitted IPO documents confidentially in April. The company is pursuing a plan to begin its IPO briefing schedule for large institutional investors on June 8.

The documents include SpaceX's bitcoin holdings. The company holds 18,712 bitcoin, valued at more than $1.4 billion, the filing showed. In the cryptocurrency market, the scale of the bitcoin holdings disclosed alongside the listing push is emerging as a key variable. The company did not disclose when it bought the bitcoin or its average acquisition price.

According to the filing, Elon Musk (일론 머스크) holds 85 percent of voting rights. Musk holds 849.5 million Class A shares and 5.57 billion Class B shares, and the company said there are no other entities, including individuals or corporations, with a stake of 5 percent or more.

Results showed growth and losses at the same time. Revenue in the most recent quarter was $4.69 billion, up 15 percent from the previous quarter. Full-year revenue in 2025 was $18.67 billion, up 33 percent from a year earlier. Net loss in the most recent quarter was $4.28 billion, and the full-year loss in 2025 was $4.94 billion. The company is continuing large-scale investment in rockets, satellites, computing and artificial intelligence development.

The public filing includes not only the listing plan but also funding flows across Musk's business group and a plan for space-based infrastructure. Under a recently signed contract, Anthropic will pay SpaceX $1.25 billion each month through May 2029, according to the filing. The contract was signed on the condition that Anthropic uses an xAI data center.

SpaceX also disclosed plans to build an orbital data center. The company said operating a satellite constellation of up to 1 million satellites may be necessary to build large-scale orbital infrastructure and an orbital AI computing system. Subscribers to its core business, Starlink, were tallied at 10.3 million. Starlink expanded mainly in rural areas and has widened its business scope through contracts with governments and overseas telecom operators.

The company explained it would need extensive domestic and international approvals, including rights to use radio frequencies, approval for space debris mitigation and adjustments under international regulations. It warned it could not guarantee whether it would be able to secure such approvals on an appropriate schedule and terms, or whether approvals would be possible at all.

This is interpreted as SpaceX officially formalising a plan to expand AI computing infrastructure into space beyond being simply a launch vehicle and satellite company. At the same time, it suggests the feasibility of the core business model and regulatory risks could also become key verification targets in the listing review process.

The listing documents also include business risks. SpaceX is preparing a new Starship launch this week, but the business was presented as still carrying a high risk burden. At its Texas site, a worker recently died after falling from scaffolding, and problems with the company's management of industrial accident records were again discussed.

SpaceX disclosed its listing direction, key risk factors and parts of its contract structure first, and it may present additional financial information and detailed terms in later steps. Market attention is focused on how quickly SpaceX will specify an actual listing schedule and whether its orbital data center plan can overcome regulatory barriers.