13 articles · Updated · The New York Times · May 7
A Grimes County hearing notice says the first Terafab phase will cost at least $55 billion, with total spending potentially reaching $119 billion and tax breaks due for discussion next month.
The factory is intended to supply chips for SpaceX and Tesla, deepening Elon Musk's push to use his rocket company to expand artificial intelligence infrastructure.
The plan comes as SpaceX reportedly eyes an IPO as soon as June, after buying xAI this year and announcing a $60 billion deal for coding start-up Cursor last month.
Can Musk’s colossal AI ambitions justify a record IPO while facing lawsuits, project delays, and massive environmental costs?
With a million satellites threatening the night sky, is SpaceX sacrificing astronomy for its speculative orbital AI cloud?
SpaceX’s $1.75 Trillion IPO: Balancing Starlink Profits Against Massive Capital Burn and Musk’s Control
Overview
SpaceX's planned IPO in mid-to-late 2026 aims to raise an unprecedented $1.5 to $1.75 trillion, positioning it among the world's largest companies. The IPO will list on Nasdaq using a fast-track rule, causing index funds to buy large amounts of stock and potentially creating high volatility, especially with 30% of shares allocated to retail investors and a low public float of 5-7%. Starlink, SpaceX's profitable satellite internet business, generates strong cash flow but must fund the massive capital needs of Starship rocket development and the high cash burn of its AI venture, xAI. Elon Musk retains overwhelming control through a dual-class share structure, limiting shareholder influence. The IPO will accelerate the space race, enabling lunar base development and intensifying competition with rivals like Blue Origin and China.