SpaceX took the wraps off its IPO filing Wednesday, laying bare for investors just how much Elon Musk is losing on artificial intelligence while betting the com

The rocket maker’s IPO filing outlines billions in AI spending, Starship development, and Elon Musk’s effort to consolidate his companies.

SpaceX has finally made the contents of its IPO filing public, weeks ahead of what is expected to be the largest IPO ever.