News & Updates
The latest news and updates from companies in the WLTH portfolio.
SpaceX Preps Next-Gen Gateway to Accelerate Starlink Speeds
Our team tests, rates, and reviews more than 1,500 products each year to help you make better buying decisions and get more from technology. SpaceX is developing a next-generation gateway station to boost Starlink speeds after securing approval to upgrade the satellite internet service with gigabit connectivity. On Tuesday, the company filed an application with the Federal Communications Commission about a new ground-based gateway station, called "First of Its Name," an apparent Game of Thrones reference. SpaceX routinely submits regulatory filings to authorize new gateway sites. They're best known for using spherical dome antennas to beam high-speed data to orbiting Starlink satellites, which then relay it to users. The company already has more than 100 gateway stations across the US. But they've usually been designed to transmit data over a swath of radio spectrum in the Ka and E bands, according to past SpaceX filings. The First of Its Name gateway stands out because it'll harness even more radio spectrum in the "Ka-, V-, E-, and W-bands" -- which the FCC greenlit in January as part of SpaceX's proposal to upgrade Starlink with gigabit speeds. The application calls out permission to use the 18.6-18.8GHz, 19.4-19.6GHz, and 29.1-29.5GHz spectrum, along with various higher bands in the V- and W-bands. "This application takes the next step by seeking authority for one of SpaceX's next-generation quad-band gateway earth stations that will connect these satellite systems to the terrestrial internet," the company wrote, noting it's targeting "fiber-like speeds." The gateway station will still use 40 antennas for quad-band access, but each will be a 1.99-meter parabolic dish, slightly larger than the 1.85-meter dishes used at the company's other gateway facilities. SpaceX adds: "This allows the gateway site to connect to as many independent NGSO [non-geostationary] satellites as possible at any given instant in time, delivering higher data transmission rates and improved customer connectivity to meet the growing consumer demand for high-speed, low-latency satellite broadband and ubiquitous mobile communications." The application also includes specific coordinates indicating the gateway will be located at SpaceX's Starlink factory in Bastrop, Texas, as noted by Tim Belfall, a director at UK-based Starlink installer Westend WiFi. It's unclear when the quad-band antennas will roll out to other stations. But in the filing, SpaceX noted if the FCC grants the authorization to use the 18.6-18.8GHz band for the gateway site, it'll "allow SpaceX to efficiently upgrade its existing hardware to make productive use of the 18.6-18.8GHz band for consumers, since the commission has already authorized SpaceX to use adjacent frequencies above and below 18.6-18.8GHz." The company's main driver for unleashing gigabit speeds is launching next-generation V3 satellites using the upcoming Starship vehicle. SpaceX CEO Elon Musk has mentioned that mass deployment of V3 satellites could start in Q4, but it will depend on progress with Starship, which is slated for another test flight next month. In the meantime, SpaceX adds, "Granting this application will promote the public interest by improving the coverage, quality, reliability, and sustainability of SpaceX's upgraded Gen1 and Gen2 systems for American consumers without causing significant interference problems." The company is asking permission to use the gateway for both fixed and mobile satellite services.
SpaceX files confidentially for IPO, potential $2T valuation
The June 30 market moved up on news of SpaceX's potential $1.75-2 trillion valuation. The September 30 IPO market sits at 91.5%, and the December 31 market is at 92.5%. The spread between the April 30 and June 30 markets, a 70-point leap, suggests traders expect a catalyst within the next two months. SpaceX is filing alongside other large private companies like OpenAI and Anthropic that are also moving toward public listings. SpaceX's filing during the Iranian conflict doesn't suggest an escalation, pointing instead to a focus on macroeconomic stability. The size of SpaceX's expected valuation makes this one of the largest IPO candidates in history. What to watch Daily volume on the June 30 market is $1,155 in USDC, with $4,330 needed to shift the price by 5 percentage points. This is a moderately liquid market where a single large trade can move the price. The largest recent move was a 2-point spike at 1:50 PM after the filing news. Buying YES at pays if SpaceX goes public by June 30. That bet requires believing the IPO process accelerates in the coming weeks. Key signals: completion of the confidential filing process, a public S-1 filing, or IPO pricing announcements. Any of these would likely drive sharp movement in the market.
Microsoft reportedly explored buying Cursor as SpaceX secures rights to acquire the AI startup for $60 billion
Microsoft reportedly explored acquiring AI coding startup Cursor before SpaceX secured the rights to acquire the company in a deal valued at $60 billion. According to a CNBC report, people familiar with the matter claim that Microsoft considered making a move as part of its broader efforts to expand its position in the growing market for AI development tools. However, the company ultimately decided not to proceed with the bid.This move is happening at a time of stiff competition in the AI code-generation tool market, with all players focusing on developing software assistants for developers. Though Microsoft has been making good progress with its GitHub Copilot tool, Cursor has also made strides in this market segment. Microsoft has also positioned itself as an investor and cloud provider, supporting AI companies through its Azure platform.SpaceX confirmed earlier this week that it has agreed to acquire Cursor by the end of the year or pay the company $10 billion if the deal does not go through. In a post on X, the company said, "SpaceXAI and @cursor_ai are now working closely together to create the world's best coding and knowledge work AI." Cursor CEO Michael Truell added on X that he's "excited to partner with the SpaceX team to scale up Composer," referring to the company's AI model.The agreement comes near the end of Cursor's fundraising phase, with some potential investors reportedly caught off guard by the development. Cursor's venture capital firms first raised capital for it at a valuation of about $50 billion amid high demand for app-building tools. SpaceX had also offered Cursor access to compute resources in the weeks leading up to the announcement.The move follows Elon Musk's decision earlier this year to merge SpaceX with his AI startup xAI in a deal valued at $1.25 trillion as the combined entity prepares for a potential public listing.Meanwhile, Microsoft continues to expand its AI offerings. Earlier this year, Microsoft CEO Satya Nadella said that GitHub Copilot had 4.7 million paying subscribers, reflecting growth in adoption. At the same time, OpenAI's Codex has reached 4 million active users, while Anthropic's Claude Code service has seen increased usage, helping the company reach $30 billion in annualised revenue.
Investing $5,000 in SpaceX IPO: Potential Returns in 5 Years
SpaceX is gearing up for one of the most anticipated initial public offerings (IPOs) in history. The company has filed confidentially with the Securities and Exchange Commission (SEC) and aims for a listing around June 2026. This IPO seeks to raise approximately $75 billion, potentially valuing SpaceX at over $2 trillion. Impact of SpaceX's Valuation on the Market If successful, this would position SpaceX among the top six most valuable publicly traded companies, closely following Amazon in market valuation. Unique Share Allocation for Retail Investors Notably, SpaceX plans to allocate 30% of its IPO shares to retail investors. This is significantly higher than the typical allocation, though demand is expected to vastly outstrip supply. Understanding SpaceX's Business Model While SpaceX is known for its space-launch capabilities, its main revenue driver is Starlink, a satellite internet service. In 2025, Starlink generated nearly $12 billion, constituting about 60% of SpaceX's total revenue. Starlink is also the only part of SpaceX currently profitable, boasting EBITDA margins exceeding 60%. In contrast, the launch business operates on tight margins with cash inflows nearly equal to outflows but maintains a dominant position in the global commercial spaceflight market. Investment Scenarios for SpaceX Investors eyeing SpaceX's IPO often wonder about the potential returns. If one were to invest $5,000 on the first day of trading, various scenarios could unfold over the next five years: * Bull Case: An annualized return of 20% could make the investment worth $12,442, assuming robust growth in Starlink and successful ventures into orbital data centers. * Base Case: A more conservative annualized return of 7% would result in a total valuation of $7,013, reflecting steady progress in the company's operations. * Bear Case: A potential decline of 15% could diminish the investment to $2,218, suggesting possible challenges in meeting bold growth expectations. Challenges and Skepticism Despite the optimistic outlook, some analysts express skepticism regarding the sustainability of high growth rates. Challenges include increased competition and potential limitations on pricing power for Starlink, particularly in developed regions. SpaceX's ambitions in artificial intelligence with xAI and plans for orbital data centers also raise concerns. Analysts point out practical difficulties associated with deploying data centers in space, affecting long-term profitability. The Bottom Line on SpaceX's IPO Ultimately, the future of a $5,000 investment in SpaceX could vary dramatically based on market conditions and the company's execution strategy. High-multiple growth stocks like SpaceX inherently carry risk, leading to unpredictable outcomes. Investors should weigh the potential rewards against the risks as they consider participation in this landmark IPO.
Forget SpaceX Stock -- Is RocketLab the Better Buy? | The Motley Fool
Could RocketLab stock, which is already public traded, offer a better alternative to its mighty competitor? Most investors are on the lookout for stocks that give exposure to untapped growth industries. And it's natural to pay attention to reports that Elon Musk's leading space company, SpaceX, could soon hit public markets through an initial public offering (IPO). But while this is exciting, all that glitters is not gold. Let's dig deeper into the potential pitfalls of buying SpaceX stock when it becomes available and compare it to a much smaller alternative called RocketLab (RKLB 7.83%), which is already publicly traded. Last week, SpaceX executives began meeting with bankers to outline plans for the stock's public launch in June. And according to Reuters, they have a target valuation of $1.75 trillion. Not only will it be the largest IPO in history, but it could also have the highest amount of shares allocated to retail investors at 30%, compared to the usual 5% to 10%. The report suggests that SpaceX's CEO, Elon Musk, wants mom-and-pop investors to have a larger ownership stake in the company relative to more-sophisticated institutional investors. However, this decision could cause the equity to trade like a meme stock, where the valuation often becomes detached from a realistic assessment of growth and earnings. Investors should make sure to remain grounded in SpaceX's fundamentals instead of getting carried away by the excitement and hype. There are already some potential concerns that could make the stock risky. The first and most obvious drawback of the SpaceX IPO will be its size. The company's estimated market capitalization of $1.75 trillion would make it the eighth-largest company in the world, ahead of giants like Tesla and Meta Platforms. The difference is that these other businesses allowed retail investors to get in on the ground floor of their growth journeys, while SpaceX investors will have to buy shares potentially near the top. There are signs that the space company is maturing. Private market research firm Sacra estimates revenue grew by 18% year over year in 2025. While that's a decent number, it represents a sharp decrease from rates of 51% and 89%, respectively, in 2024 and 2023. SpaceX's pivot to generative artificial intelligence (AI) could also pose some risks. In February, the company purchased Musk's large language model (LLM) developer, xAI, in a stock deal worth $250 billion. The AI industry is extremely competitive, and while the deal could give the combined company a new growth driver, it also runs the risk of increasing losses and burning through cash that could have otherwise gone to shareholders. The Information, a technology news website, reports that SpaceX lost $5 billion in 2025, largely due to unprofitable AI-related spending. Investors who want exposure to the space industry without the slowing growth and generative AI risk involved in SpaceX have an alternative. RocketLab is a pure play that focuses on transporting payloads into low Earth orbit. With a market capitalization of $49 billion, it offers room for long-term growth, and it plans to ramp up its scale with the launch of a new, higher-capacity rocket called the Neutron later this year. That said, while RocketLab looks like a better buy than SpaceX, it is not without its risks. With a price-to-sales ratio (P/S) of 74, shares are already priced for perfection. And delays in the launch could lead to a market sell-off. Overall, investors should remember that space is still a relatively speculative and unproven industry. And whichever space stock you choose, it is best to only have moderate exposure as part of a diversified portfolio.
Even SpaceX Doesn't Believe SpaceX's Hype About Space AI And Moon Cities - Jalopnik
Remember those halcyon days when SpaceX believed it was on the cusp of transforming humanity? It feels like only just this year that SpaceX was filing to launch one million AI data center satellites into orbit, something it claimed would be "a first step toward becoming a Kardashev Type II civilization." I am even old enough to remember when CEO Elon Musk said the company planned to build "a self-growing city on the Moon," all part of a plan to "extend consciousness and life as we know it to the stars." Such dreams, SpaceX had! Such aspirations! Well, that was all before the space juggernaut quietly filed for an IPO, and now, the tune is a little different. Reuters got ahold of the S-1 filing of the world's most valuable private company, which lays out financial information and known risks for potential investors. In it, SpaceX writes: Our initiatives to develop orbital AI compute and in-orbit, lunar, and interplanetary industrialization are in early stages, involve significant technical complexity and unproven technologies, and may not achieve commercial viability. This is obviously a serious business document for serious business people, so the language is more restrained than Musk's bluster. But SpaceX is aiming for a colossal $1.75 trillion valuation, which just so happens to be just larger than the current record-holder, Saudi Aramco in 2019 at $1.7 trillion. That gigantic figure is only justifiable if SpaceX is about to rewrite history. So any sense that SpaceX might fall short is a risk. "May not achieve commercial viability" is about as short as it gets!
Forget SpaceX Stock -- Is RocketLab the Better Buy?
Could RocketLab stock, which is already public traded, offer a better alternative to its mighty competitor? Most investors are on the lookout for stocks that give exposure to untapped growth industries. And it's natural to pay attention to reports that Elon Musk's leading space company, SpaceX, could soon hit public markets through an initial public offering (IPO). But while this is exciting, all that glitters is not gold. Let's dig deeper into the potential pitfalls of buying SpaceX stock when it becomes available and compare it to a much smaller alternative called RocketLab (NASDAQ: RKLB), which is already publicly traded. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue " Last week, SpaceX executives began meeting with bankers to outline plans for the stock's public launch in June. And according to Reuters, they have a target valuation of $1.75 trillion. Not only will it be the largest IPO in history, but it could also have the highest amount of shares allocated to retail investors at 30%, compared to the usual 5% to 10%. The report suggests that SpaceX's CEO, Elon Musk, wants mom-and-pop investors to have a larger ownership stake in the company relative to more-sophisticated institutional investors. However, this decision could cause the equity to trade like a meme stock, where the valuation often becomes detached from a realistic assessment of growth and earnings. Investors should make sure to remain grounded in SpaceX's fundamentals instead of getting carried away by the excitement and hype. There are already some potential concerns that could make the stock risky. The first and most obvious drawback of the SpaceX IPO will be its size. The company's estimated market capitalization of $1.75 trillion would make it the eighth-largest company in the world, ahead of giants like Tesla and Meta Platforms. The difference is that these other businesses allowed retail investors to get in on the ground floor of their growth journeys, while SpaceX investors will have to buy shares potentially near the top. There are signs that the space company is maturing. Private market research firm Sacra estimates revenue grew by 18% year over year in 2025. While that's a decent number, it represents a sharp decrease from rates of 51% and 89%, respectively, in 2024 and 2023. Image source: Getty Images. SpaceX's pivot to generative artificial intelligence (AI) could also pose some risks. In February, the company purchased Musk's large language model (LLM) developer, xAI, in a stock deal worth $250 billion. The AI industry is extremely competitive, and while the deal could give the combined company a new growth driver, it also runs the risk of increasing losses and burning through cash that could have otherwise gone to shareholders. The Information, atechnology newswebsite, reports that SpaceX lost $5 billion in 2025, largely due to unprofitable AI-related spending. Investors who want exposure to the space industry without the slowing growth and generative AI risk involved in SpaceX have an alternative. RocketLab is a pure play that focuses on transporting payloads into low Earth orbit. With a market capitalization of $49 billion, it offers room for long-term growth, and it plans to ramp up its scale with the launch of a new, higher-capacity rocket called the Neutron later this year. That said, while RocketLab looks like a better buy than SpaceX, it is not without its risks. With a price-to-sales ratio (P/S) of 74, shares are already priced for perfection. And delays in the launch could lead to a market sell-off. Overall, investors should remember that space is still a relatively speculative and unproven industry. And whichever space stock you choose, it is best to only have moderate exposure as part of a diversified portfolio. Ever feel like you missed the boat in buying the most successful stocks? Then you'll want to hear this. On rare occasions, our expert team of analysts issues a "Double Down" stock recommendation for companies that they think are about to pop. If you're worried you've already missed your chance to invest, now is the best time to buy before it's too late. And the numbers speak for themselves: Right now, we're issuing "Double Down" alerts for three incredible companies, available when you join Stock Advisor, and there may not be another chance like this anytime soon. Will Ebiefung has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Meta Platforms, Rocket Lab, and Tesla. The Motley Fool has a disclosure policy.
When will SpaceX and Anthropic IPO? SuRo CEO says quality drives decision
Investing.com -- The pipeline of highly anticipated potential initial public offerings represents a significant opportunity for public market investors, but the timing of landmark listings from companies like SpaceX, OpenAI and Anthropic will ultimately be driven by strategic conditions rather than necessity, according to SuRo Capital CEO Mark Klein. In an exclusive interview with Investing.com, Klein argued that the most consequential names approaching the public markets are under no pressure to list. "Companies like SpaceX, Anthropic, and OpenAI have demonstrated a sustained ability to raise significant capital in the private markets," he said, adding that they "will initiate IPOs when they determine the market environment optimally supports their valuation and strategic goals." With broader markets around all-time highs, Klein noted there is a "clear increase in market attention for these offerings." On concerns that a wave of large IPOs could drain market liquidity, Klein pointed to the scale of available capital. OpenAI's recent financing, he said, demonstrates that "substantial capital remains available and ready to be deployed into high-quality assets." "Given this demand for companies like those in our portfolio and the broader categories we invest in, we believe SuRo plays an important role in the current ecosystem," he added. "We offer an advantage by providing investors with pre-IPO exposure to these companies, combined with the liquidity of a publicly traded stock, allowing our shareholders to participate in value creation well before a public offering." Klein struck a notably different tone on the current IPO pipeline compared to the 2020-2021 boom. "While the 2020 and 2021 period was characterized by high valuations and subsequent market corrections, the current pipeline features companies with strong, demonstrable financial metrics." He cited Canva, with 265 million monthly active users and $4 billion in revenue, and Whoop, which is delivering 100% annual growth, as examples of companies with the structural scale to support their valuations. Both names are SuRo Capital portfolio companies. SuRo's own net asset value was expected to rise to between $14.00 and $14.50 per share as of March 31, 2026, driven in part by OpenAI's latest financing round and WHOOP's Series G at a $10.1 billion valuation. The company previously remarked that the developments "reinforce both the scale of demand we are seeing and the continued maturation of several notable pre-IPO businesses within our portfolio."
SpaceX's IPO Will Help Elon Musk Consolidate Power. Investors Welcome It.
Musk is poised to have even more sway at his rocket-maker, SpaceX, which is aiming to go public in June. Ethan Swope/Bloomberg News Tesla's TSLA -1.95%decrease; red down pointing triangle shareholders already give Elon Musk leeway, entertaining the billionaire's whims as he plows money into robots and blessing a $1 trillion pay package that will pay out if he hits long shot targets. He is poised to have even more sway at his rocket-maker, SpaceX, which is aiming to go public in June. SpaceX's board has already granted him its own "moonshot" pay package, people familiar with the matter say. And, unlike at Tesla, the billionaire is expected to control SpaceX through the use of so-called supervoting shares, the people said. While such moves raise the eyebrows of many corporate-governance experts -- until as recently as 2023, the S&P 500 banned companies with dual-class shares from entering its index -- investors large and small seem so eager for a piece of Musk that they are willing to overlook and even welcome such founder-friendly terms. Musk and his associates are pitching existing and prospective investors on SpaceX's IPO this week in Starbase, the company town outside of Brownsville, Texas, where SpaceX builds and launches its Starship rockets. Several existing SpaceX investors say they welcome the moves to keep Musk's interests aligned with their own. SpaceX representatives have been telling investors they already have enough interest in the IPO from a mix of institutional investors and sovereign-wealth funds to raise the $40 billion to $80 billion they envision. And that is before factoring in the individual investors, who SpaceX hopes will buy one-third or more of the offering's shares, well above the typical portion. While most SpaceX shareholders will hold Class A shares with one vote each on company matters, Musk and other key executives are expected to hold Class B shares that get 10 votes each, the people familiar with the matter said. Part of the motivation for giving himself and other key executives supervoting shares at SpaceX is to consolidate power from the beginning, which Musk didn't do ahead of Tesla's 2010 IPO, other people familiar with the matter say. He has publicly expressed frustration that he could be voted out of the electric-vehicle maker, where he holds roughly 18% of the company's single share class, including options he could exercise any time, according to Verity Platform, which tracks insider share ownership. Musk owned around 40% of SpaceX at the end of last year, according to public filings. That stake has likely grown since he merged SpaceX with his artificial-intelligence company xAI in February. Supervoting shares at SpaceX could also make it easier for Musk to one day merge Tesla and SpaceX, which many investors believe is his ultimate goal. SpaceX was valued at around $1.25 billion following the xAI deal. If it debuts at the even higher valuation envisioned, Musk would lead two of the roughly 10 or so public U.S. companies with valuations above $1 trillion. He would also hold two moonshot pay packages, which corporate-governance experts warn could motivate him to devote most of his time and energy to whichever seems most likely to pay off. "He's obviously a high-powered person, and people can multitask, but there is at least the potential for some divided loyalties," said Margaret Engel, founding partner at pay-consultancy Compensation Advisory Partners. The Information reported earlier this week that SpaceX plans to award Musk tens of millions of shares if the company's market value reaches as high as $6.6 trillion, among other things. The pay package that Tesla shareholders approved for Musk in November could pay out $1 trillion in stock if he hits such goals as delivering millions of cars and a million robots, increasing the company's market value to $8.5 trillion from its $1.5 trillion high last year and pushing profitability dramatically. The company's board called the arrangement key to keeping Musk engaged with the company, given his many other projects. On Wednesday, Tesla surprised Wall Street with better-than-expected profits and free cash flow, while also forecasting $25 billion in capital expenditures this year as it spends on AI compute and new factories.
SpaceX may build its own GPUs to reduce chip supply risks
Serving tech enthusiasts for over 25 years. TechSpot means tech analysis and advice you can trust. What we know so far: SpaceX may be about to take on one of the most difficult jobs in the tech industry: making its own AI chips. According to reports, the company has warned prospective investors that chip supply constraints and the cost of securing enough compute hardware could become a serious problem. As such, it's now considering manufacturing its own GPUs. The disclosure appears in excerpts from SpaceX's S-1 filing ahead of its expected IPO this summer. Reuters says the filing lists "manufacturing our own GPUs" among the "substantial capital expenditures" the company is taking on. The filing acknowledges that SpaceX still expects to rely heavily on third-party suppliers for a significant portion of its compute hardware. The company also said it does not have long-term contracts with many of its direct chip suppliers, leaving it more exposed to shortages or price spikes. Elon Musk outlined a joint Tesla, SpaceX, xAI, and Intel chipmaking effort last month called Terafab, an advanced manufacturing complex planned for Austin, Texas. SpaceX's reported in-house GPU ambitions appear to tie directly into that same project, which is supposed to help produce the processors needed for cars, humanoid robots, and space-based data centers. It seems the plan isn't just about reducing Nvidia dependence; it appears to align with Musk's broader push to expand in-house AI infrastructure across his companies. Wanting to build GPUs and actually doing it are two very different things, of course. Producing cutting-edge chips requires billions of dollars, highly specialized materials, and a manufacturing process involving well over a thousand tightly controlled steps. It's still unclear when SpaceX plans to manufacture its own chips, whether "GPU" is being used precisely or as a catch-all label for AI processors, and which company would handle the fabrication technology inside Terafab. The report notes that SpaceX's filing frames compute hardware as a potential operational and financial risk, particularly given its reliance on outside suppliers and the lack of long-term contracts with some of them. Reuters says SpaceX's filing identifies compute hardware as a potential operational and financial risk because of its dependence on outside suppliers and the absence of long-term contracts with some of them. It also leaves several questions unanswered, including what role Terafab would play in that effort.
When will SpaceX and Anthropic IPO? SuRo CEO says quality drives decision By Investing.com
Investing.com -- The pipeline of highly anticipated potential initial public offerings represents a significant opportunity for public market investors, but the timing of landmark listings from companies like SpaceX, OpenAI and Anthropic will ultimately be driven by strategic conditions rather than necessity, according to SuRo Capital CEO Mark Klein. In an exclusive interview with Investing.com, Klein argued that the most consequential names approaching the public markets are under no pressure to list. "Companies like SpaceX, Anthropic, and OpenAI have demonstrated a sustained ability to raise significant capital in the private markets," he said, adding that they "will initiate IPOs when they determine the market environment optimally supports their valuation and strategic goals." With broader markets around all-time highs, Klein noted there is a "clear increase in market attention for these offerings." On concerns that a wave of large IPOs could drain market liquidity, Klein pointed to the scale of available capital. OpenAI's recent financing, he said, demonstrates that "substantial capital remains available and ready to be deployed into high-quality assets." "Given this demand for companies like those in our portfolio and the broader categories we invest in, we believe SuRo plays an important role in the current ecosystem," he added. "We offer an advantage by providing investors with pre-IPO exposure to these companies, combined with the liquidity of a publicly traded stock, allowing our shareholders to participate in value creation well before a public offering." Klein struck a notably different tone on the current IPO pipeline compared to the 2020-2021 boom. "While the 2020 and 2021 period was characterized by high valuations and subsequent market corrections, the current pipeline features companies with strong, demonstrable financial metrics." He cited Canva, with 265 million monthly active users and $4 billion in revenue, and Whoop, which is delivering 100% annual growth, as examples of companies with the structural scale to support their valuations. Both names are SuRo Capital portfolio companies. SuRo's own net asset value was expected to rise to between $14.00 and $14.50 per share as of March 31, 2026, driven in part by OpenAI's latest financing round and WHOOP's Series G at a $10.1 billion valuation. The company previously remarked that the developments "reinforce both the scale of demand we are seeing and the continued maturation of several notable pre-IPO businesses within our portfolio." For investors holding pre-IPO companies, Klein explained that SuRo's general approach once portfolio companies go public is to begin monetizing holdings after lockup periods expire and share prices stabilize, at which point public investors can access those names directly.
Elon Musk's aerospace and AI company reportedly plans to make its own GPUs, though I doubt you'll one day be enjoying a SpaceX graphics card in your rig
SpaceX, the private aerospace and AI company founded by Elon Musk, is reportedly planning to make its own GPUs in the not too distant future. The company plans to go public this summer, with an expected IPO of $1.75 trillion. Part of that process involves filing an S-1 registration with the U.S. Securities and Exchange Commission, which details a company's finances and risks prior to going public. Reuters reviewed an excerpt of this document, and spotted that SpaceX lists "manufacturing our own GPUs" under its "substantial capital expenditures." Now, you and I think of a very distinct, game-ready thing when we hear the term 'GPU', but I suspect SpaceX's plans don't fully fall upon the same page. The odds are these chips will be more specifically geared towards some sort of AI workload, not unlike Google's tensor processing units (or TPUs, if you were hankering for yet another hardware initialism). It's not yet clear exactly how much cash SpaceX might be pouring into this hardware endeavor, but it's hardly a surprising development given Musk's recent team up with Intel. This partnership will see Intel "design, fabricate, and package ultra-high-performance chips at scale" in order to "accelerate Terafab's aim to produce 1 TW/year" in compute power. For those that need the refresher, the Terafab project is an advanced AI chip manufacturing complex planned to be built in Austin, Texas. The massive project currently intends to handle chip fabrication, packaging, and testing. It is a megazord effort between SpaceX's xAI unit and Tesla, though it's not yet clear the exact type of chips this fab will produce. Most recently, Musk said in an earnings call that Terafab will "use Intel's 14A process, which is state-of-the-art and in fact not yet totally complete. But given that by the time Terafab scales up, 14A will be probably fairly mature or ready for prime time, 14A seems like the right move." To return to SpaceX's GPU plans, it's currently unclear whether a partner such as Intel will fabricate these, or the company will look elsewhere. It's kind of a weird time to announce any fresh hardware venture, especially as GPU giant Nvidia's main manufacturing partner TSMC has its hands very full and many other production lines are similarly fit to busting. Perhaps unsurprisingly then, SpaceX admits in that aforementioned S-1 registration that it does not "have long-term contracts with many of our direct chip suppliers." The document continues, "We expect to continue sourcing a significant portion of our compute hardware from third-party suppliers, and there can be no assurance that we will be able to achieve our objectives with respect to Terafab within the expected timeframes, or at all." That's probably not the most attractive prospect for investors, but time can only tell whether SpaceX and its GPU efforts entices some sharks.
SpaceX partners with Pakistan-born Sualeh Asif's AI startup Cursor
SAN FRANCISCO: SpaceX announced a partnership with AI coding company Cursor, an AI code-generation startup co-founded by Pakistan-born Sualeh Asif, and said the alliance comes with an option to buy the startup for $60 billion later this year. The move by Elon Musk's rocket and satellite company comes as it prepares to become publicly traded, and shortly after it took over the billionaire's artificial intelligence outfit xAI. Cursor, founded in 2022 and based in San Francisco, specialises in AI for creating software code, particularly for business uses. "SpaceXAI and @cursor_ai are now working closely together to create the world's best coding and knowledge work AI," the company said in a X post on Tuesday. Combining Cursor's software and product expertise with SpaceX's "Colossus" AI training supercomputer will enable the company "to build the world's most useful models," it said. The partnership comes as AI sector rivals vie to be the preferred option for software developers. Cursor competes with Microsoft's social coding platform GitHub, which has been a leading resource in the developer community. OpenAI announced on Tuesday that its coding tool, Codex, has grown to four million weekly users, up from three million just weeks ago. Meanwhile, Anthropic has put out word that revenue from its Claude Code tool for developers has surged. It is pertinent to mention here that Karachi-born Asif joined Nixor College before attending the Massachusetts Institute of Technology (MIT), and represented the country in the International Math Olympiad from 2016 to 2018. Meanwhile, he cofounded Anysphere, the maker of the popular AI code editing tool Cursor, with three of his friends from MIT. The company now has over $1bn in annualised revenue, making it one of the fastest-growing AI startups, says Forbes. Musk announced in February that SpaceX would acquire xAI, a step in his plan to launch solar-powered, satellite-based data centers to run future AI models. SpaceX has set the pace in the space launch market, offering reusable rockets that vastly reduce the cost of putting satellites into orbit and itself owning the largest satellite constellation, Starlink. The company is set for a stock market listing this year widely expected to be the biggest in history, with media reports pointing to an initial public offering (IPO) as early as June. Musk called SpaceX's absorption of xAI "not just the next chapter, but the next book" for the companies. "Global electricity demand for AI simply cannot be met with terrestrial solutions... The only logical solution therefore is to transport these resource-intensive efforts to a location with vast power and space," Musk wrote when his companies were merged. The project fits into Musk's long-term ambition to build colonies on the Moon and Mars and is "a first step towards becoming a Kardashev II-level civilization," he wrote. Coined in the 1960s by a Soviet astronomer, the futurist term refers to a civilization able to use all of the energy from its home system's star. SpaceX filed papers early this year with US regulators that set the stage for what could be the largest-ever public stock offering, a source familiar with the matter told AFP. The confidential filing puts the rocket and satellite builder on track to list its shares on a public exchange by July, according to The Wall Street Journal, citing unidentified sources. Media reports have said the initial public offering could be valued at a whopping $75 billion or more, for a venture with stratospheric ambitions. If successful, SpaceX could arrive on Wall Street with a valuation exceeding $1.75 trillion, putting it among the world's ten biggest companies by market capitalization. Besides SpaceX, two other tech heavyweights, the AI developers OpenAI and Anthropic, are reportedly planning IPOs this year.
SpaceX Secures $57M SSC Contract for Link-182 Space Comms
SpaceX has received a $57.3 million contract from the U.S. Air Force to develop and demonstrate a space-to-space communications system as part of efforts to strengthen U.S. military capabilities. The SpaceX contract underscores continued efforts to advance air and space defense through emerging technologies. These priorities will take center stage at the Potomac Officers Club's 2026 Air and Space Summit on July 30. Register now. What Does the Contract Cover? The Department of War said Wednesday the firm-fixed-price contract supports the Link-182 space-to-space communications system. The work includes the acquisition, development and testing of resilient space technologies designed for proliferated low Earth orbit. What Are the Details of the Contract? The project will take place in Hawthorne, California, and will run through April 30, 2027. The award was issued following a competitive process that drew six bids. At the time of award, the Space Systems Command, which manages the contract, obligated $57.3 million in fiscal 2026 research, development, test and evaluation funding. Other Space Force Awards to SpaceX The latest award builds on SpaceX's ongoing work with the U.S. Space Force. In April, Space Systems Command awarded the company a $178.5 million task order for launches under the National Security Space Launch, or NSSL, Phase 3 Lane 1 program. Earlier, the company received nine task orders totaling $739 million for Lane 1 launch services under the same program. In October 2025, SpaceX and United Launch Alliance were selected to carry out the first seven launches under the NSSL Phase 3 Lane 2 contracts.
SpaceX targets in-house GPUs, warns of substantial capital expenditures
SpaceX might be tackling one of the biggest challenges in the chip business: manufacturing the keys to powering artificial intelligence (AI) called graphics processing units, or GPUs. Ahead of SpaceX's US$1.75 trillion initial public offering expected this summer, the company has warned prospective investors of its big spending plans to develop AI and other technologies. It lists "manufacturing our own GPUs" among the "substantial capital expenditures" it is undertaking, according to excerpts of its S-1 registration. Companies file this document to the US Securities and Exchange Commission to disclose their risks and finances before going public. SpaceX did not immediately respond to a request for comment, and the size of the expected expenditure could not be determined. The ambition follows work by SpaceX, its xAI unit and Tesla to jointly develop the Terafab, an advanced AI chip manufacturing complex that chief executive officer Elon Musk is planning in Austin, Texas. Although Musk has said the project would target chips for cars, humanoid robots and space-based data centers, many details -- including the types of AI chips, such as GPUs, it would produce -- have been unknown. There are a range of approaches for chips that power AI. For example, Nvidia largely makes GPUs, which are general purpose and good at performing a wide array of data crunching tasks. Alphabet's Google takes another approach with its tensor processing units (TPUs), which are tuned to perform specific functions, key to building AI models and running chatbots such as Anthropic's Claude. It was unclear when SpaceX plans to manufacture its own chip and which companies -- the Terafab developers or their partner Intel -- would handle the fabrication technologies inside the plant. Musk told Tesla analysts on Wednesday that by the time Terafab scales up, Intel's next-generation 14A manufacturing process "will be probably fairly mature or ready for prime time" and "seems like the right move." It was also unclear if SpaceX, in its filing, used the term GPU as shorthand for AI processors generally. Still, the previously unreported plans for GPU production come as SpaceX warned investors that it might not have enough chip supply to power its growth. "We do not have long-term contracts with many of our direct chip suppliers," SpaceX said in the S-1 registration. "We expect to continue sourcing a significant portion of our compute hardware from third-party suppliers, and there can be no assurance that we will be able to achieve our objectives with respect to TERAFAB within the expected timeframes, or at all," the company said. Manufacturing GPUs is not easy. Industry heavyweight Nvidia pioneered GPU design and, like much of the industry, outsources their manufacture to Taiwan Semiconductor Manufacturing Co. (TSMC, 台積電). TSMC has spent billions of dollars and years developing its most advanced manufacturing processes, which for cutting-edge chips require exotic materials and executing more than 1,000 steps with atomic precision. Its years of manufacturing billions of Apple's iPhone chips have afforded it an enormous amount of the required hands-on experience to produce cutting-edge processors. The chip industry, as it is organized, splits steps such as fabricating, packaging and testing among several discrete companies. Musk has said the Terafab would handle each step of chip production, including the design as well.
SpaceX brings analysts to xAI's Macrohard in Memphis: Reports
MEMPHIS, Tenn. -- SpaceX, the rocket company founded by Elon Musk, is scheduled to host a group of investors and analysts on Thursday at xAI's Macrohard data center in Memphis, Reuters is reporting. The Macrohard facility and the Colossus II computer are in the Whitehaven area of Memphis. xAI has three supercomputers and data center facilities in the Memphis area. The Memphis visit follows another one Tuesday at the SpaceX headquarters in Texas, according to Reuters. SpaceX acquired xAI, Musk's artificial intelligence company, earlier this year. SpaceX has filed for an initial public offering that could make it the largest-ever stock market listing, valued at $1.75 trillion. Thursday morning, at least one protester confronted xAI investors at a hotel in downtown Memphis, according to social media. The NAACP has filed a lawsuit against xAI, and several community groups have opposed the operation of multiple data centers in the Memphis area, citing pollution and health concerns centered on the facilities' use of gas turbines to generate backup power and the use of water from the aquifer.
SpaceX's IPO Plan Will Give Elon Musk Ironclad Rule Over the Resulting Empire
Can't-miss innovations from the bleeding edge of science and tech When SpaceX makes it debut on the stock exchange later this year, experts expect it to be the largest public offering in financial history. Should that audacious prediction come to pass, it would widen Elon Musk's lead over the next-richest person into an unfathomable chasm, and cement him as one of the most powerful men in modern history. It's also sounding like the financial maneuver will give him an ironclad grip over the resulting empire, which includes xAI and X-formerly-Twitter. According to an IPO prospectus filed with the Securities and Exchange Commission and unpacked by Reuters, once the company goes public, Musk will serve as CEO, CTO, and chairman of SpaceX's nine-seat board of directors. The company will pursue a dual-class equity structure, under which legacy investors like Musk will receive 10 votes each, while public shareholders only get one. In other words, Musk's mammoth slice of the pie -- though it only adds up to 42 percent of the company -- will give him a stranglehold over the behemoth aerospace enterprise. Given the equity Musk already holds -- he bought $1.4 billion in stock last year alone -- he stands to make billions once the shares debut on the market (SpaceX is said to be targeting a whopping $1.75 trillion valuation, coupled with a $75 billion fundraise, according to Reuters.) Shareholders sweetened the pot even further with Musk's latest pre-IPO compensation package, which includes a reward of 60 million in shares. In order to claim the prize, however, SpaceX will need to check two boxes: the company will have to reach a valuation of $6.6 trillion, and will have to fulfill Musk's fantasy of putting a data center in space. While the first stipulation could satisfy itself in today's topsy-turvey stock market, the second task will take some doing -- if it's even possible in the first place.
Pakistani-born founder's AI startup draws $60 billion buyout option from SpaceX in high-stakes tech bet - Profit by Pakistan Today
Aerospace giant secures acquisition rights or $10 billion partnership with fast-growing coding platform Cursor as it accelerates push into AI software ahead of a planned mega IPO. Pakistani-born tech entrepreneur Sualeh Asif has emerged at the centre of one of Silicon Valley's largest potential artificial intelligence deals after aerospace company SpaceX secured the right to acquire his startup, Cursor, for $60 billion later this year. Under the agreement, SpaceX can either proceed with the full acquisition or pay $10 billion to formalise a strategic partnership, signalling the company's deepening push into the rapidly expanding market for AI developer tools. The move comes as SpaceX prepares for a highly anticipated public debut in the coming months, with the company reportedly targeting a valuation of about $1.75 trillion and seeking to raise roughly $75 billion in what could become one of the largest initial public offerings in history. Industry observers say the arrangement is designed to strengthen the capabilities of xAI, the artificial intelligence venture behind the Grok chatbot, which was merged into SpaceX earlier this year. The partnership is expected to help the company compete more aggressively with rivals such as OpenAI and Anthropic, both of which have rapidly gained users by offering AI systems that automate software development tasks. In a statement posted on social media, SpaceX said combining Cursor's developer-focused platform with its large-scale computing infrastructure would accelerate the creation of more advanced AI models. The company pointed to its Colossus training system in Memphis, described as a supercomputer cluster with computing capacity equivalent to one million H100 graphics processing units, as a key asset supporting the collaboration. SpaceX and xAI have been investing billions of dollars to expand AI infrastructure in recent years. Cursor has experienced rapid commercial growth amid rising demand for automated coding solutions. The company reached a valuation of $29.3 billion in November 2025 after raising $2.3 billion from investors and reports annualised revenue exceeding $1 billion. Asif, originally from Karachi, co-founded the startup with three fellow students from the Massachusetts Institute of Technology. He represented Pakistan at the International Mathematical Olympiad from 2016 to 2018 and is estimated to have a net worth of approximately $1.3 billion. Commenting on the development, Bilal bin Saqib said the achievement highlights the global potential of Pakistani talent while underscoring the need to build stronger innovation ecosystems at home. Separately, two senior engineering leaders at Cursor, Andrew Milich and Jason Ginsberg, joined SpaceX earlier this year to contribute to the company's lunar technology and artificial intelligence programmes.
SpaceX conquered the stars, now eyes bigger opportunity in AI
NEW YORK/SAN FRANCISCO: SpaceX sees artificial intelligence as its biggest long-term growth opportunity, with more than 90 per cent of its estimated total addressable market tied to the sector, according to an S-1 filing reviewed by Reuters ahead of the company's expected initial public offering. The filing shows SpaceX estimates its total addressable market at $28.5 trillion, with around $26.5 trillion linked to AI and $22.7 trillion of that tied specifically to enterprise AI. The figures underline Elon Musk's ambition to make SpaceX a major force not only in space and satellite communications, but also in the fast-growing AI industry. SpaceX is moving ahead with an IPO expected this summer at a valuation of about $1.75 trillion, seeking to raise around $75 billion in what could become the largest stock market debut on record. "We believe we have identified the largest actionable total addressable market in human history," the filing said. A total addressable market, or TAM, is a measure often used by investors to gauge the maximum potential revenue available to a company if it were to capture an entire market. It is not a revenue forecast or valuation, but is widely watched in assessing high-growth businesses. SpaceX did not respond to a request for comment. The new disclosure marks a sharp contrast with the company's current business model, which remains heavily dependent on Starlink, its satellite internet division. Starlink generated $11.4 billion of SpaceX's total revenue of $18.7 billion in 2025 and delivered $4.4 billion in operating profit, making it the company's biggest revenue engine. By contrast, xAI -- the artificial intelligence company founded by Musk in 2023 and acquired by SpaceX in February -- posted an operating loss of $6.4 billion in 2025, widening from $1.6 billion a year earlier. Overall, SpaceX reported a loss of $4.9 billion last year. The filing also showed how capital-intensive the company's AI expansion is becoming. Total capital expenditure rose to $20.7 billion in 2025, with AI accounting for $12.7 billion -- more than spending on its space and connectivity businesses combined. SpaceX said it plans to build on xAI products including Grok Enterprise, while also developing an autonomous platform with Tesla called Macrohard. The company also warned prospective investors that it expects heavy spending on AI and related technologies, including the possible manufacture of graphics processing units, or GPUs, which are essential for advanced AI systems. It said it also plans to build a specialised sales force and deploy engineers directly into customer operations to help businesses adopt AI tools. "We believe that our enterprise strategy, which is focused on serving the digital needs of the world's largest industries with AI solutions, positions us competitively to pursue this rapidly growing opportunity," the filing said. Still, one source familiar with the company's financials expressed caution over the scale of the valuation being discussed, saying investors placing value only on businesses with clear visibility today may struggle to justify where the market could ultimately price the stock._Reuters
Intel Stock Rises 3% as Musk Plans 14A Chips for Tesla, SpaceX Terafab
This article first appeared on GuruFocus. Intel (NASDAQ:INTC) shares rose about 3% on early Thursday after Elon Musk said Tesla (NASDAQ:TSLA) and SpaceX will use Intel's 14A process for a planned Terafab, giving Intel a fresh sign of interest in its manufacturing turnaround, according to a Wednesday earnings call. Intel has been spending heavily to rebuild its chipmaking position and compete with Taiwan Semiconductor Manufacturing Co. (TSM). Musk said the process is still under development, but he expects it to be mature by the time the facility begins operating. Tesla and SpaceX would use the Intel technology in a semiconductor plant meant to support their AI work, Musk said. He added that the Terafab would help address a shortage of advanced chips as demand for AI infrastructure keeps climbing. Intel is due to report earnings on Thursday. The comments add a new customer-facing angle for Intel as it looks to show progress on 14A, while memory chip suppliers including Samsung Electronics, SK Hynix and Micron Technology (NASDAQ:MU) face tight supply conditions.