SpaceX's CEO also confirms that the company's rumored IPO is about generating funding to develop orbiting data centers using Starlink as a foundation.

Jeff Bezos’ Blue Origin and Elon Musk’s SpaceX are racing to develop AI data centers in space, with Blue Origin working on core technologies for over a year and SpaceX planning upgraded Starlink satellites to host AI computing.

Musk also nodded to public backlash over Tesla, referencing consumer protests in which demonstrators set cars on fire.

Residents near rocket launch sites and regulators have complained about the noise and potential environmental impacts of sonic booms.

The Elon Musk–run company is moving ahead with plans for an initial public offering that would seek to raise “significantly more than $30 billion.” Even relatively small balance-sheet allocations matter at that scale.

With SpaceX’s valuation expected to skyrocket, its CEO largely credits satellites, rocket launches — and the company’s plan to solve a major AI-industry problem.

Amid media reports of skyrocketing valuation and a potential IPO for SpaceX, the company could have a lot to lose next year.

The Wall Street Journal reported that SpaceX is kicking off a secondary share sale that would value the rocket maker at $800 billion, surpassing OpenAI to make it the most valuable US private company.