Elon Musk once swore SpaceX would stay private until humans reached Mars. Now he wants $2 trillion and a June listing.
SpaceX filed confidentially with the SEC on April 1, targeting a late-May prospectus and early June roadshow at a reported $1.75 trillion valuation, roughly five times what SpaceX was worth just nine months ago.
The AI Pivot Driving The Numbers
The valuation jump owes less to rockets than to Musk’s February merger of SpaceX with his AI company xAI, owner of the Grok chatbot. The stated rationale for the xAI merger is building AI data centers in space, though specifics remain vague.
xAI pulled in roughly $100 million in revenue last quarter. OpenAI reported $2 billion a month over the same period.
Starlink currently serves around 10 million subscribers. T-Mobile (NASDAQ:TMUS) has roughly 14 times as many at a …
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