SpaceX targets record $2 trillion IPO

ProLogium Technology, a Taiwanese solid-state battery manufacturer, has agreed to go public in New York through a merger with blank-check company Translational Development Acquisition Corp in a $3.8 billion deal announced May 27, 2026. The transaction will fund ProLogium's production of fourth-generation solid-state batteries and the construction of a gigafactory in Dunkirk, France, with groundbreaking expected later in 2026 and mass production targeted for the second quarter of 2029. Founded in 2006, ProLogium has shipped over 2.4 million lithium ceramic battery cells to electric vehicle customers since 2013 and plans to expand into data centers, aerospace, robotics, and defense markets. The deal is expected to close in the second half of 2026, with the combined company listing on Nasdaq under the ticker symbol "PRLG." Separately, Elon Musk's SpaceX has formally submitted its Form S-1 paperwork to the Securities and Exchange Commission, revealing plans for an IPO that could become the largest in human history. The company targets a valuation between $1.75 trillion and $2 trillion, with a launch window opening as early as June 2026 and plans to raise a minimum of $75 billion in fresh capital. SpaceX generated $18.7 billion in revenue during 2025, a 33 percent year-over-year increase, but posted a net loss of $4.94 billion for the full year and an additional $4.27 billion loss in the first quarter of 2026. The IPO filing confirms that SpaceX's satellite internet division Starlink accounts for roughly 60 percent of total revenue, with that share growing to 69 percent in the first quarter of 2026. The filing further discloses that SpaceX has invested over $15 billion in its Starship rocket program and recently acquired xAI, driving much of the recent capital consumption. Musk will maintain control through a dual-class share structure granting insiders 10 votes per share compared to one vote per public share, allowing him to serve as CEO, chief technical officer, and board chairman while limiting investor influence over governance. The company has also secured a $1.25 billion monthly deal with Anthropic to rent AI computing capacity through May 2029. SpaceX will list on Nasdaq under the ticker symbol "SPCX," eclipsing Saudi Aramco's $29.4 billion 2019 IPO, which remains the current record holder.