Elon Musk's SpaceX IPO plans reveal blockbuster spending on rockets and AI

Key points

• Elon Musk's SpaceX IPO plans reveal blockbuster spending on rockets and AI toggle caption Joe Raedle/Getty Images North America Elon Musk's SpaceX is getting ready to break new records on Wall Street — and make one of the world's wealthiest men even wealthier.
• The space-launch company filed financial information with regulators to pull off what could be the biggest initial public offering ever in mid-June.
• Though it did not disclose how much it intends to raise, previous media reports have said the company is seeking about $80 billion.
• That would make it by far the largest IPO in history, much higher than the $29 billion that Saudi Aramco eventually raised after its 2019 offering.
• The deal could also value the company at over $1 trillion, making SpaceX one of the most valuable companies in the world, and potentially even worth more than Musk's electric-vehicle company, Tesla.