SpaceX's Prospectus Reveals Financial Standing for the First Time: Satellite Internet Solely Supports Profitability, While Aerospace and AI Still Incur Huge Losses
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SpaceX has submitted its prospectus for listing, planning to go public on Nasdaq under the ticker symbol 'SPCX'. The prospectus discloses its financial situation, revealing that SpaceX has transformed from a rocket launch company into a giant in the satellite internet and AI infrastructure sectors. Among them, the connectivity business, where Starlink operates, serves as the economic backbone. In the first quarter of 2026, it generated $3.26 billion in revenue, accounting for 69% of total revenue, with approximately 10.3 million subscribers. It is also the only profitable segment, with an operating profit of $1.19 billion. The traditional aerospace business generated $619 million in revenue but incurred an operating loss of $662 million. The newly integrated AI business, on the other hand, reported an operating loss of $2.469 billion. SpaceX plans to integrate rockets, satellite internet, and AI computing power into a single entity and expects to deploy orbital data centers as early as 2028.