Elon Musk’s SpaceX pulled back the curtain on a business empire that has racked up ballooning losses and debt after acquiring a cash-hungry startup, and pumping billions of dollars into futuristic endeavors ranging from AI to a Mars rocket.
The prospectus that SpaceX filed Wednesday for an IPO of unprecedented size boiled down to a well-worn strategy that entrepreneurs commonly hawk up and down Wall Street: in order to make money, we need to spend money. And nowhere are the outlays larger than in space and artificial intelligence.
“The big takeaway for me is that SpaceX is now an AI company,” said Chad Anderson, an early SpaceX investor and founder of Space Capital.
Musk is seeking to pull off the unprecedented feat of achieving a $2 trillion valuation from the outset, an audacious plan that’s set to transform both the public and private markets if it succeeds. At the same time, the prospectus lays bare concerns over whether private companies with limited financial disclosures and largely illiquid shares are reaching unjustified valuations in venture capital-led funding rounds.
Elon Musk is seeking to pull off the unprecedented feat of achieving a $2 trillion valuation from the outset, an audacious plan that’s set to transform markets if it succeeds. Read more: https://t.co/9IYTIOGzoh
— Bloomberg (@business) May 21, 2026
📷: Brandon Bell/Getty Images pic.twitter.com/1EFis4o0TP
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