SpaceX IPO filing reveals losses and AI pivot
SpaceX filed for an IPO that could value the company at 1.75 trillion dollars while revealing a 1.94 billion dollar operating loss for the first quarter. The filing highlights heavy spending on the xAI division and confirms Elon Musk will retain over 85 percent of the voting power.
SpaceX filed for a $1.75 trillion IPO on Wednesday, revealing a $1.94 billion first-quarter operating loss driven by aggressive artificial intelligence spending. The listing in the United States would surpass the $1.7 trillion record set by Saudi Arabia and its 2019 Saudi Aramco offering. For investors, the filing confirms Elon Musk's strategy to pivot the rocket manufacturer into a dominant AI infrastructure provider—a move that could make Musk the first trillionaire in history if the valuation is achieved.
