SpaceX released its S-1 filing on May 22, 2026, detailing extensive cross-holdings with Tesla. The prospectus confirms Tesla owns nearly 19 million Class A common shares of SpaceX. This off-balance-sheet asset stems from a prior $2 billion investment in xAI.
The filing clarifies that the Terafab chip factory joint venture remains in early stages with no binding commitments. Tesla shares struggled as strategists warned the $1.75 trillion SpaceX IPO could siphon retail capital. Analysts further noted the potential for the offering to divert Elon Musk’s attention from the electric vehicle manufacturer.