SpaceX’s IPO pitch signals a strategic pivot: its AI unit is projected to consume 61% of 2025 capital spending. Even with Starlink generating profits, the scale of AI investment—and possible deals tied to tools like Cursor—could stretch SpaceX’s cash runway against deep-pocketed Big Tech players.
SpaceX is hosting a three-day run of analyst briefings this week across its Texas launch facility and Tennessee data center as it gears up for a landmark IPO. The company is targeting as much as $75 billion, with a late-June debut in sight. Sources say retail investors will receive a notable portion of the shares, adding fuel to the hype.
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SpaceX is looking beyond rockets, estimating its total addressable market could reach $28.5 trillion, based on figures in an S-1 filing reviewed by Reuters. The metric reflects the maximum revenue potential if the company captured every customer in its targeted market. The leap signals growing expectations for AI and data-driven growth far bigger than its core launch business.
SpaceX, OpenAI and Anthropic are poised to fuel a record-breaking IPO wave in the U.S., driven by soaring private valuations, uneven but strong revenue growth, and rapid AI adoption. Yet the companies’ lack of consistent profitability could clash with investors’ long-term expectations and even complicate whether they qualify for certain index and inclusion rules.
NASA has announced the four astronauts for SpaceX’s Crew-13 mission to the International Space Station, now targeting launch no earlier than mid-September. The flight is designed to accelerate space station crew rotations and support future Moon-Mars preparations. Jessica Watkins, aboard a second SpaceX Dragon mission, is poised to make history as NASA works to tighten its human spaceflight timeline.
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