May 20 (Reuters) - SpaceX took the wraps off its IPO filing on Wednesday, laying bare for investors just how much Elon Musk is losing on artificial intelligence while betting the company’s future on transforming the rocket maker into an AI powerhouse.
Much of its outlook relies on SpaceX dominating technologies and markets that do not yet exist – from Mars missions to AI data centers in space.
For many, Musk’s record turning Tesla into the most valuable auto company in the world and developing the world’s first fully reusable rocket and largest satellite network is enough to justify investment.
The filing cements Musk’s tight control of SpaceX while giving shareholders little say over his decisions. It shows just how central AI has become following the February purchase of xAI, which drove most of the company’s spending and a majority of its losses in the first quarter.
The listing could become the first U.S. market debut above $1 trillion and would immediately make SpaceX one of the world’s most valuable publicly traded companies.
