SpaceX Postpones Starship Launch, Plans Friday Test Flight

SpaceX postponed the launch of its massive Starship rocket and said it would make another attempt at the highly anticipated test flight on Friday.

The delay came a day after the company unveiled plans for a record-breaking stock market debut, where a successful launch could help attract investors.

The initial public offering on the technology-heavy Nasdaq stock market is set to become the largest in Wall Street history and could begin next month under the ticker symbol SPCX.

The listing could make Elon Musk, already the world’s wealthiest person, the first-ever trillionaire due to his ownership stake in SpaceX.

SpaceX manufactures rockets, operates the Starlink satellite internet service, and owns the controversial artificial intelligence firm xAI.

The uncrewed launch will mark the debut of the Starship V3 rocket following months of testing delays.

In its IPO filing, SpaceX described the rocket as “the most powerful launch system ever developed.”

“We expect that Starship V3 will be able to carry a payload of 100 metric tons, with future generations of Starship being designed to double this payload,” the company added.

The rocket includes dozens of upgrades designed for rapid launches of SpaceX’s Starlink satellites and NASA missions to the moon.

SpaceX has spent more than $15 billion (£11.2 billion) on the Starship program, according to the filing.

SpaceX values itself at $1.25 trillion, and Musk’s majority ownership means his share could be worth more than $600 billion.

Last year, Musk, who also serves as chief executive of electric vehicle maker Tesla, became the first person to achieve a net worth exceeding $500 billion.

Last year, Space Exploration Technologies, as the company is officially known, generated $18.6 billion in revenue but posted a net loss of $4.9 billion.

In the first three months of this year, the company achieved $4.7 billion in sales but recorded a net loss of $4.3 billion.