SpaceX generated about $8 billion in profit last year ahead of IPO, sources say

Financial Performance - SpaceX generated approximately $8 billion in profit on revenue between $15 billion to $16 billion last year, indicating strong financial health ahead of its expected IPO [1][2] - The profit figure represents earnings before interest, taxes, depreciation, and amortization, a crucial measure of operating performance [3] Revenue Drivers - The primary revenue driver for SpaceX is its satellite-based internet system, Starlink, which accounts for about 50% to 80% of total revenue [3] - The rapid launch of 9,500 Starlink satellites since 2019 has positioned SpaceX as the world's largest satellite operator, serving over 9 million users [4] Strategic Moves - SpaceX acquired $19 billion worth of wireless spectrum rights from EchoStar to expand Starlink into the direct-to-device market, allowing mobile phones to connect directly with Starlink satellites [5] - The company is planning the largest IPO in the world, anticipated to occur close to Elon Musk's 55th birthday on June 28 [5] Future Plans - Musk expects the Starship, which has undergone 11 test launches since 2023, to begin launching payloads into space this year [6] - The company aims to use Starship for launching space-based AI data centers, which is linked to a proposed merger with Musk's artificial intelligence company, xAI [6]