SpaceX files to go public, and the math requires a little faith

Loading the player… <p class="wp-block-paragraph"><a href="https://techcrunch.com/2026/05/20/the-spacex-ipo-filing-ai-bets-starship-dreams-elon-musk/" target="_blank" rel="noreferrer noopener">The SpaceX S-1 is finally here</a>, and the story it tells goes way further than rockets. The filing runs to 36 pages of risk factors alone, and the numbers inside match the ambition: a $28 trillion total addressable market, a pay package tied to establishing a Mars colony, and a valuation target that would make it the largest IPO in American history. </p>
<p class="wp-block-paragraph">Watch as<a href="https://techcrunch.com/podcasts/equity/" target="_blank" rel="noreferrer noopener"> Equity</a> podcast hosts Kirsten Korosec, Anthony Ha, and Sean O’Kane dig into what the filing actually says, what it leaves out, and whether any of this math connects to reality. The team also covers <a href="https://techcrunch.com/2026/05/20/nanoclaw-creator-turns-down-20m-buyout-offer-raises-12m-seed-instead/" target="_blank" rel="noreferrer noopener">NanoCo turning down a $20M buyout</a> to raise a $12M seed for its secure Nano Claw alternative, Anthropic’s <a href="https://techcrunch.com/2026/05/18/anthropic-has-acquired-the-dev-tools-startup-used-by-openai-google-and-cloudflare/" target="_blank" rel="noreferrer noopener">$300M acquisition of SDK startup Stainless</a>, and the Google I/O announcement that <a href="https://techcrunch.com/2026/05/19/google-search-as-you-know-it-is-over/" target="_blank" rel="noreferrer noopener">promises to change search as we know it</a>. </p>
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