SpaceX postpones Starship V3 launch by one day ahead of its record Wall Street debut
The Starship V3 launch delay came just a day after SpaceX revealed plans for a record-breaking Nasdaq float
Elon Musk's SpaceX has delayed the launch of its Starship rocket and will make a fresh attempt at the highly anticipated test flight on Friday. The postponement comes just one day after the company unveiled plans for what could be the largest stock market debut in Wall Street history.
A record-breaking IPO on the horizon
The planned initial public offering (IPO) on the tech-focused Nasdaq stock exchange is set to be the biggest in US history and could commence as early as next month under the ticker symbol SPCX.
A successful launch of the powerful new rocket is expected to help bolster investor confidence ahead of the listing.
By virtue of his majority stake in SpaceX, Musk — already the world's wealthiest person — could become the first-ever trillionaire as a result of the flotation. The company has valued itself at $1.25tn, with Musk's share potentially worth in excess of $600bn.
Last year, Musk, who also serves as chief executive of electric vehicle maker Tesla, became the first individual in history to achieve a net worth exceeding $500bn.
Starship V3: the most powerful launch system ever developed
The uncrewed test flight will mark the debut of the Starship V3 rocket, following months of testing delays. SpaceX described it as "the most powerful launch system ever developed" in its IPO filing.
"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 filing stated.
The vehicle incorporates dozens of upgrades designed to facilitate rapid launches of the company's Starlink satellites and support Nasa missions to the Moon. SpaceX has invested more than $15bn (£11.2bn) in the Starship programme to date, according to the same filing.
About SpaceX
Space Exploration Technologies — as the company is officially known — develops rockets, operates the Starlink satellite internet service, and owns the controversial artificial intelligence firm xAI.
In the last financial year, SpaceX brought in $18.6bn in revenue but recorded a net loss of $4.9bn. In the first quarter of this year, the company achieved $4.7bn in sales whilst posting a net loss of $4.3bn.