Gate News message, April 21 — SpaceX has begun its pre-IPO roadshow this week, hosting private meetings for top Wall Street analysts from the aerospace and tech sectors in Texas and Tennessee as it works toward a late-June stock market debut. The company is targeting a $75 billion raise, with plans to showcase its operations and strategic initiatives to investors.
On Tuesday and Wednesday, SpaceX is conducting all-day tours at Starbase in Boca Chica, Texas, where different groups of analysts and institutional investors such as large mutual funds and pension funds will review the company’s facilities. On Thursday, analysts are scheduled to visit SpaceX’s Colossus data center in Memphis, Tennessee, to examine Macrohard, a project tied to the company’s growing AI expansion plans.
Meanwhile, Elon Musk purchased $1.4 billion of SpaceX stock last year from current and former employees through his trust, according to SpaceX’s confidential IPO prospectus. Additionally, SpaceX approved a plan last month that could grant Musk an additional 60 million shares, contingent on the company growing its market value from approximately $1.1 trillion to as much as $6.6 trillion and producing a complete plan to build data centers in space for AI computing. After the offering, Musk is expected to remain as CEO, CFO, and chairman.
By end of 2025, SpaceX and its combined xAI unit held $24.8 billion in cash, $92 billion in total assets, and $50.8 billion in total liabilities. Starlink, the satellite internet unit, generated $4.42 billion in operating profit last year, offsetting part of losses from the xAI segment. However, SpaceX reported a consolidated loss of $4.94 billion on $18.67 billion in revenue for 2025. Capital expenditures reached $20.74 billion, with over half—$12.7 billion—allocated to AI initiatives.
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