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SpaceX prices its IPO on June 11 at $1.75 trillion, but Morningstar warns that $1.3 trillion of that valuation rests entirely on orbital AI data centers with no commercial revenue.
Elon Musk unveiled SpaceX's AI1 orbital data center satellite on June 8, revealing a 70-meter wingspan design with 150 kW of AI compute capacity ahead of the company's IPO.
Google has agreed to pay Elon Musk's SpaceX $920 million a month for computing power, totalling roughly $30 billion under a deal running through June 2029.
Elon Musk's xAI is moving to pay off $3 billion in junk bonds ahead of schedule, part of a sweeping financial reset tied to SpaceX's IPO push.