This week at SpaceX: AI bets, losses and push for control as mega IPO looms

April 21 (Reuters) - Elon Musk's SpaceX saw a slew of developments this week as it barrels toward what could be the largest initial public offering in history.

The rocket and satellite company disclosed an option to acquire AI coding startup Cursor for $60 billion, outlined plans that would entrench permanent voting control for founder Musk, and is kicking off a three-day Wall Street analyst roadshow aimed at defending a $1.75 trillion valuation.

SpaceX is targeting a late-June market IPO with a $75 billion capital raising, even as excerpts from its confidential IPO filing show the company swung to a multi-billion-dollar loss in 2025, driven by heavy spending on artificial intelligence.

Here are some major developments:

Reporting by Fabiola Arámburo and Mrinmay Dey in Mexico City; Editing by Muralikumar Anantharaman

Our Standards: The Thomson Reuters Trust Principles., opens new tab