Digital
Why OpenAI is hiring 100 ex-bankers: Inside the ChatGPT-maker's secret project to automate Wall Street's grunt work
SpaceX targets 2026 IPO at over $1 trillion valuation: Report
SpaceX plans to use a portion of the IPO proceeds to build space-based data centres, including the purchase of advanced chips required to power them.
Elon Musk’s SpaceX eyes 2026 IPO
Elon Musk–led SpaceX is preparing for a potential initial public offering in 2026, aiming to raise more than $25 billion at a valuation exceeding $1 trillion, Reuters reported. The space technology company has reportedly begun discussions with banks, with the listing expected around June or July next year.
According to the report, SpaceX plans to use a portion of the IPO proceeds to build space-based data centres, including the purchase of advanced chips required to power them. The move is expected to accelerate the company’s efforts in satellite communications, deep-space infrastructure and data-driven space services.
The development comes as Musk expands his data infrastructure ambitions globally. Last year, he announced that his AI company xAI would partner with Saudi Arabia-backed Humain to build a 500-megawatt data centre in the kingdom, powered by Nvidia chips.
The IPO chatter picks up shortly after Musk dismissed reports claiming SpaceX was seeking an $800 billion valuation through a share sale. He said the company has been “positive cashflow” for several years and conducts stock buybacks twice annually to provide liquidity to employees and investors.
“Two drunks leaning on a lamppost”: Sir Martin Sorrell on the Omnicom–IPG merger and the turbulence ahead
In a wide-ranging interview with Storyboard18, Sorrell delivers his frankest assessment yet of how the deal will redefine creativity, media, and talent across markets.