SpaceX files for IPO as rocket company preps for market debut

SpaceX filed for an initial public offering on Wednesday, as the Elon Musk-owned rocket manufacturer moves to raise more capital for its space, AI and satellite ventures. 

The move comes after SpaceX filed a confidential IPO with the Securities and Exchange Commission last month. SpaceX did not disclose how much money it is seeking to raise, but previous estimates put the amount at up to $75 billion.

SpaceX said in a securities filing that it will trade on the Nasdaq Composite exchange under the ticker symbol “SPCX.”

Musk founded SpaceX in 2002 to develop and launch spacecraft. The Texas-based company also owns Musk’s artificial intelligence company, xAI and his satellite company, Starlink.

— This is a developing story and will be updated