GoKawiilSpaceX's new Starship V3 rocket is seen docked at the Starbase during the 12th test flight on May 21, 2026 as seen from South Padre Island in Texas.
SpaceX is readying for the 12th test flight of its massive Starship rocket on Thursday, a landmark launch ahead of the company's IPO that's expected next month.
The launch will represent the debut of Starship V3, which "is designed to deliver 100 metric tons to Earth's orbit in a fully reusable configuration while enabling rapid turnaround times akin to commercial aviation," SpaceX said in its IPO prospectus on Wednesday.
A 90-minute launch window is set to open at 6:30 p.m. ET, and the event can be viewed by webcast. The launch could be delayed by weather or other disruptions.
Elon Musk's reusable rocket maker has spent more than $15 billion on its Starship program, according to Wednesday's filing. The company says Starship is key to launching more satellites into orbit to build out its Starlink constellation at a faster pace than it's been able to using Falcon 9 rockets. Starlink delivers wireless internet services to consumers, businesses and government agencies.
The latest version of the Starship rocket will be launching from a newly designed pad at SpaceX's facility in Starbase, Texas, an official company town previously known as Boca Chica.
The test flight will likely mark the company's last chance to dazzle investors with a Starship launch before shares hit the public market. Last year, SpaceX's space segment generated revenue of $4.1 billion and recorded an operating loss of $657 million.
The company counts on Starlink for a hefty amount of revenue and all of its profits. The connectivity unit, which consists mostly of Starlink, brought in sales of $11.4 billion and operating income of $4.4 billion in 2025. That accounted for 61% of the company's total sales last year, and 69% in the first quarter.
About its space business, SpaceX said in its prospectus that its "growth strategy depends on our ability to increase our launch cadence and payload capacity, which is dependent on the successful development of Starship at scale."
Musk has long held the grandiose goal of colonizing Mars, using the Starship rocket to lift cargo and as many as 100 people at a time into orbit.
... continue reading