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 test flight of its upgraded Version 3 (V3) Starship was mostly successful, achieving its planned suborbital trajectory and deploying dummy Starlink satellites despite multiple engine failures on both the Super Heavy booster and Starship.
The flight gathered critical data on the V3's heat shield and structural strength, with two dummy satellites using cameras and sensors to scan Starship in space for the first time.
This test is crucial for SpaceX's anticipated IPO and its plans to begin orbital missions by the second half of 2026, which are vital for commercial Starlink deployments and NASA's Artemis human lunar landing missions.
The FAA acknowledged the engine anomalies but has not required a mishap investigation, allowing Starship to avoid being grounded.

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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.