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🚀 SpaceX just pulled back the curtain ahead of its IPO and the numbers are wild.
The company quietly revealed new financial data, massive losses, and a corporate structure designed to keep Elon Musk firmly in control even after going public.
According to filings submitted to the U.S. Securities and Exchange Commission, SpaceX generated $18.7 billion in revenue in 2025, a 33% jump year-over-year.
But despite the explosive growth, the company posted a staggering $4.9 billion net loss, compared to a $791 million profit in 2024 and the burn hasn’t slowed down. In the first quarter of 2026 alone, SpaceX lost another $4.3 billion while bringing in $4.7 billion in revenue. The filings also reveal how Musk plans to maintain near-total control of the company after the IPO.
He owns just 12.3% of SpaceX’s Class A shares, but controls 93.6% of the super-voting Class B shares, giving him roughly 85% of total voting power because those shares carry 10x the votes.
Translation: even as a public company, SpaceX will still effectively be Musk’s empire. But the biggest surprise may be what comes next. Bloomberg reports that SpaceX plans to acquire AI coding startup Cursor just 30 days after its stock market debut.
The two companies reportedly signed an agreement back in April 2026 that values Cursor at an eye-watering $60 billion.
The deal also contains one of the most aggressive breakup clauses in tech right now: If SpaceX backs out, it owes Cursor a $10 billion penalty.
@aipost 🏴
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