[SpaceX Prospectus Revealed] SpaceX generated $18.7 billion in revenue last year, a 33% YoY increase, but reported a net loss of $4.9 billion. Elon Musk will retain 85% voting power, with his compensation tied to Mars colonization and orbital data centers. Funds raised from the IPO will primarily be used to repay bridge loans and expand AI infrastructure. If the valuation exceeds $1.5 trillion, the price-to-sales ratio will soar to 80x, while the overall P/S ratio of the top 15 U.S. companies is only around 7x.