SpaceX launches Starship rocket as key test for Musk’s IPO plans | Today’s news

SpaceX’s spacecraft launched in a challenging test of new rockets designed to fulfill Elon Musk’s ambitions for human space travel, satellite internet and data centers in orbit.

The double-decker rocket system, consisting of the Super Heavy Booster and the Starship spacecraft, lifted off from the launch pad at SpaceX’s South Texas base at 5:30 p.m. local time on Friday.

The debut flight of the third iteration of the rocket, called Version 3 or V3, is underway and is expected to last about an hour.

The closely watched mission is a key demonstration of improvements to previously launched Starship prototypes, including increased power and rocket capabilities.

It comes the same week that SpaceX, formally known as Space Exploration Technologies Corp., publicly filed for an initial public offering that could happen as early as June. The filing revealed billions in losses and a supervoting share plan that allowed Musk to keep the company under his control.

Designed to transport cargo and people to distant destinations in space, the starship is also said to unlock Musk’s ultimate goal of establishing a human settlement on Mars. The rocket is essential for lifting huge numbers of satellites for SpaceX’s fast-growing Starlink online business.

The company also holds $4 billion worth of contracts with NASA to land astronauts on the lunar surface, and SpaceX has its own plans to launch a lunar base.

But before all that, SpaceX needs to show significant progress in Starship development, which has been marked by explosive setbacks. It’s been roughly seven months since SpaceX last launched a Starship mission in October 2025.