Elon Musk’s company filed confidentially for an IPO last week – but SpaceX itself is a bizarre agglomeration
Hello, and welcome to TechScape. I’m your host, Blake Montgomery, US tech editor at the Guardian, writing to you as I listen to George Handel’s Messiah for Easter.
SpaceX filed confidentially for an initial public offering on the US stock market last week at a reportedly astronomical valuation. My colleague Nick Robins-Early reports:
Elon Musk’s company, which has become a dominant power in both space travel and satellite communications, could seek a valuation upwards of $1.75tn. The confidential filing will give regulators a period to review and discuss the company’s financial disclosures before investors and the public are able to view them.
The IPO could take place as early as June, Bloomberg reported, in what is expected to be a banner year for high-value public offerings. Musk’s rival OpenAI is also planning to go public later this year at an immense valuation, announcing on Tuesday that it had closed a funding round of $122bn, in addition to fellow AI firm Anthropic preparing its own IPO. SpaceX is the parent company of Musk’s own artificial intelligence company, xAI.
