The short answer: SpaceX (Space Exploration Technologies Corp.) is Elon Musk's rocket, satellite internet and artificial intelligence company. It builds and launches reusable rockets, runs the Starlink satellite internet service and, since merging with xAI in February 2026, also owns Musk's AI business. It went public on the Nasdaq under the ticker SPCX on June 12, 2026 after the largest IPO on record, and was worth about $2 trillion at the close on October 23, 2026, according to Stock Analysis.
A company profile from The Pomp Podcast, hosted by Anthony Pompliano. Last updated: October 24, 2026.
Key takeaways
SpaceX is Elon Musk's rocket, Starlink satellite internet and AI company; it merged with xAI in February 2026.
It began trading on the Nasdaq as SPCX on June 12, 2026 after raising $75 billion in the largest IPO on record.
It was worth about $2 trillion on October 23, 2026, and no Tesla merger has been agreed.
What is SpaceX?
SpaceX was founded in 2002, according to CNBC. For most of its history it was known as a rocket company. Today it has three main businesses, per CNBC's reporting on its IPO prospectus:
Space. Reusable rockets and spacecraft. SpaceX is a major contractor for the U.S. military, intelligence agencies and NASA, Reuters reports.
Starlink. Its satellite internet service accounts for the bulk of SpaceX's revenue and was its only profitable unit at the time of the IPO, per CNBC.
AI. Musk's AI company xAI merged with SpaceX in February 2026. In August, SpaceX closed its $60 billion purchase of AI coding startup Cursor, CNBC reports.
Is SpaceX a public company?
Yes. SpaceX sold 555.6 million shares at $135 each, raising $75 billion in the largest IPO on record, and began trading on the Nasdaq as SPCX on June 12, 2026, per CNBC. The IPO price valued it at $1.77 trillion. On October 23, 2026, SPCX closed at $147.49, a market value of about $2 trillion, according to Stock Analysis.
Musk controls the company through 10-to-1 supervoting shares and has almost 80% voting control, CNBC reports, which makes SpaceX a "controlled company" under Nasdaq rules.
How big is SpaceX's business?
According to CNBC's summary of the prospectus:
Revenue rose 33% to $18.67 billion in 2025, and 15% to $4.69 billion in the first quarter of 2026.
It lost $4.94 billion in 2025 and $4.28 billion in the first quarter of 2026.
First-quarter capital spending was $10.1 billion, of which $7.7 billion went to AI.
The prospectus warned that the company may not achieve profitability.
Will SpaceX merge with Tesla?
Nothing has been agreed. On SpaceX's third-quarter earnings call on October 20, 2026, Musk said of a merger, "Do I think it would be a good idea? Yes," and said both companies had formed special committees to explore one, CNBC reports. In a filing, SpaceX said "no determination by our special committee has been made," and that any deal would need approval from the committee, its board and its controlling shareholder, Musk, according to Reuters.
Musk says he is a "conflicted party" and cannot take part in talks. Tesla would need a vote of 50% of all its shares, he said. Because SpaceX is worth more, CNBC reports it would likely be the acquirer in a stock swap. Experts quoted by CNBC point to regulatory hurdles in the U.S. and China. For more, read Tesla SpaceX Merger: What Dan Ives Is Watching.
Why does SpaceX matter?
Size. At about $2 trillion, it ranked as the sixth most valuable company in the world on October 23, 2026, per Stock Analysis.
A space company turned AI company. With xAI and Cursor inside it and most of its capital spending going to AI, investors increasingly value it as an AI business.
The Musk conglomerate. A merger with Tesla would combine rockets, satellites, AI, electric vehicles and robots under one company.
What did The Pomp Podcast say about SpaceX?
SpaceX came up in three October 2026 episodes. The deepest discussion was with Wedbush analyst Dan Ives on October 22, "85% Of The AI Boom Is Still Ahead Of Us", two days after Musk endorsed a Tesla merger. Quotes below are from the episodes, with timestamps.
"if you think of SpaceX two years ago, and you asked what does SpaceX do, unequivocally, they launch rockets."
Pomp went on to say that today, looking at its results, SpaceX "is an AI company that happens to have rockets."
Asked whether a merger would happen, Ives said: "It's a matter of when not if" (21:27). Asked what investors are doing, he answered:
"Well, right now, most are buying SpaceX."
Five days earlier, before Musk's public comments, Pomp floated the same idea with Jordi Visser:
"maybe one of the alpha generating ideas from this podcast is it is likely that SpaceX would acquire Tesla"
In the same episode, Jordi noted that Musk "has also said that he sees SpaceX as being bigger than the global economy" (54:20), and put SpaceX's fast listing in the context of the coming AI IPOs:
"OpenAI is coming to the market. Anthropic's coming to the market. These are big things. SpaceX came fast."
On October 20, investor Moez Kassam said his fund generally avoids crowded names like Tesla and SpaceX because "there's too many people looking at it" (25:34).
Every Pomp Podcast episode that discussed SpaceX
SpaceX came up in 3 recent episodes of The Pomp Podcast. Each link opens the YouTube video at that moment.
Oct 22, 2026: 85% Of The AI Boom Is Still Ahead Of Us | Dan Ives. Pomp and Dan Ives discussed the Tesla merger, SpaceX's shift to AI and how investors are positioning. Timestamps: 0:43 (preview), 21:27 (merger "when not if"), 26:18 (an AI company with rockets), 33:42 (what investors are buying).
Oct 20, 2026: Bitcoin Is Just Getting Started, Says Billion Dollar Investor | Moez Kassam. Moez Kassam discussed pre-IPO trading and why his fund steers clear of crowded names like Tesla and SpaceX. Timestamps: 20:34 (pre-IPO trading), 25:34 (avoiding crowded trades), 51:54 (the SpaceX IPO).
Oct 17, 2026: Is Bitcoin Ready To Rip While Wall Street Breaks? | Jordi Visser. Pomp and Jordi discussed a possible Tesla merger and the coming wave of mega IPOs. Timestamps: 54:15 (Musk on SpaceX's scale), 56:29 (SpaceX could acquire Tesla), 58:48 (the AI IPO wave).
Watch or listen to the episode
85% Of The AI Boom Is Still Ahead Of Us | Dan Ives, released October 22, 2026. The SpaceX and Tesla discussion starts around 21:00.
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Frequently asked questions
What is SpaceX?
SpaceX is Elon Musk's rocket, satellite internet and AI company. It launches reusable rockets, runs Starlink and, since merging with xAI in February 2026, owns Musk's AI business.
Is SpaceX publicly traded?
Yes. SpaceX began trading on the Nasdaq under the ticker SPCX on June 12, 2026, after raising $75 billion at $135 a share in the largest IPO on record.
How much is SpaceX worth?
SpaceX was worth about $2 trillion at the close on October 23, 2026, according to Stock Analysis. Its IPO price valued it at $1.77 trillion.
Is SpaceX merging with Tesla?
No deal has been agreed. Musk called a merger "a good idea" in October 2026 and both companies formed special committees, but SpaceX says no determination has been made.
Who controls SpaceX?
Elon Musk. CNBC reports he holds 10-to-1 supervoting shares and almost 80% voting control.
Does SpaceX own xAI?
Yes. xAI merged with SpaceX in February 2026, and SpaceX also closed a $60 billion purchase of AI coding startup Cursor in August 2026, according to CNBC.
Sources
Last updated: October 24, 2026
Anthony Pompliano is an entrepreneur, investor, and author who serves as Chairman and CEO of Silvia, Inc (SVIA) and invests through Pomp Investments. He is the host of The Pomp Podcast, where he interviews founders, investors and economists about bitcoin, markets, AI and the economy.
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This profile is for informational purposes only and reflects reporting available as of October 24, 2026, plus opinions shared on The Pomp Podcast. It is not investment advice. Do your own research before making any investment decision.
