A scale model rocket tipped sideways atop a pile of scattered banknotes, close-up shot from a low angle on a dark studio surface, cold blue rim lighting from the left contrasting with a faint red glow beneath, deep shadows in the background, shallow depth of field.

SpaceX Files for Record $80bn IPO With $37bn Hole in the Floor

By Oliver BennsMay 21, 2026

SpaceX has filed to list on the Nasdaq under ticker SPCX, seeking to raise $80bn or more in what would be the largest IPO on record. The prospectus shows $4.7bn in Q1 revenue against a $4.3bn net loss, with cumulative losses of $37bn since inception. The connectivity arm housing Starlink turned a $1.1bn quarterly profit, but the AI unit lost $2.5bn and the core space business lost $662m. Elon Musk will retain roughly 85% of voting shares, and shareholder disputes are routed to arbitration. The listing is slated for June 12.

Nvidia Clears the Bar Again as $80bn Buyback Lands

Nvidia posted Q1 revenue of $81bn, up 85% year-over-year, with data centre sales up 92%. The company authorised an $80bn buyback and lifted its dividend from 1 cent to 25 cents per share. Shares whipped after hours but stayed inside the options market's implied 5.5% move, with no chip shipments to China this quarter versus $4.5bn a year earlier.

Trump Family Granted Permanent Shield From IRS Audits

The US Department of Justice has pledged to be 'forever barred' from pursuing tax claims against Donald Trump or his family, following Trump's withdrawal of a $10bn lawsuit against the IRS over alleged disclosures. The arrangement extinguishes any future federal tax investigations or audits of the family. White-collar crime prosecutions in the US have hit a record low this year, with 160 investigations cancelled in the past 12 months.