The mid-June offering targets $75 billion at up to a $1.5 trillion valuation after the company’s $250 billion acquisition of xAI.
Draft S-1 filings show Starlink provides most revenue and adjusted profit, while xAI is consuming cash, leaving investors split between fear of missing out and concerns over valuation and Elon Musk’s control.
SpaceX argues its low-cost launch capability could support solar-powered orbital data centres to ease AI power constraints, but the filing acknowledges major technical complexity and unproven technology.
Could SpaceX's plan for orbital AI data centers revolutionize global computing, or will technical and environmental hurdles ground Musk's trillion-dollar vision?
With Musk's tight control and unproven technology, what risks and rewards should investors weigh before jumping into SpaceX's record-shattering IPO?