What Starship Flight 12 Means for SpaceX’s IPO

Mostly successful debut of company’s largest rocket yet represents a key step toward grander ambitions.

Jack Daleo

Wednesday, May 27, 2026 at 09:00 AM ET

Verified

Edited By:

Travis Tingle

SpaceX’s Version 3 (V3) Starship launches on its debut suborbital test flight on Friday. [Credit: SpaceX]

Key Takeaways:

SpaceX's 12th Starship test flight, featuring the upgraded V3 vehicle, was largely successful, achieving its suborbital trajectory and deploying dummy Starlink satellites despite multiple engine failures in both the Super Heavy booster and Starship upper stage.
The mission provided crucial data on the V3's heat shield and structural strength during reentry, and demonstrated new capabilities like in-space scanning by dummy satellites and rapid deployment mechanisms.
Despite engine anomalies, the FAA did not ground Starship, allowing SpaceX to progress towards anticipated orbital missions in the second half of 2026, which are critical for its upcoming IPO, expanding Starlink services, and supporting NASA's Artemis moon landing program.

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Ahead of what observers anticipate will be the largest initial public offering (IPO) in history, SpaceX debuted its largest rocket yet on a mostly successful mission.

Though Starship and the Super Heavy booster—which combined stand more than 400 feet tall, nearly the length of a Boeing 777—suffered multiple engine failures, the ship achieved its planned suborbital trajectory and deployed a batch of dummy Starlink satellites. For the first time, two of these used cameras and sensors to scan Starship in space.