Elon Musk outlines bold vision for SpaceX, goes light on details at JPMorgan event touting historic IPO | Latest Tech News
SpaceX CEO Elon Musk joined JPMorgan CEO Jamie Dimon to kick off the rocket company’s investor highway show, portray a incredible vision of data facilities in space and holidays on the moon as the tech conglomerate eyes a historic $1.5 trillion valuation.
At a Thursday dialogue at JPMorgan’s Manhattan headquarters, Dimon launched Musk as “the Edison of our time,” according to Barron’s.
Beaming in via video chat, Musk went on to tout highlights of SpaceX’s plan to earn out-of-this world income. In a current submitting with the Securities and Exchange Commission, the company said it might generate billions from AI tasks, the Starlink broadband and cell providers and “space-enabled solutions.”
SpaceX CEO Elon Musk painted a incredible vision of data facilities in space and holidays on the moon in a presentation to JPMorgan as the tech conglomerate eyes a historic $1.5 trillion valuation. Getty Images
“We’re also doing the AI data centers in space, which is another massive capital endeavor,” Musk was quoted as saying. “But I think it will be the primary means by which AI can be expanded. It’s increasingly difficult to build power plants on the ground.”
SpaceX plans to promote about 556 million shares on Nasdaq under the ticker SPCX, with the offering set to close on June 11 and trading beginning the next day.
JPMorgan is one of 23 banks working on the deal, with Goldman Sachs and Morgan Stanley serving as lead underwriters.
Musk’s speak was light on details, Barron’s famous, and the tech guru largely caught to the big-picture predictions for which he’s well-known.
At Thursday’s confab, focused at rich retail traders, those included “hotels on the moon,” according to Business Insider.
At Thursday’s confab, focused at rich retail traders, those included “hotels on the moon,” according to Business Insider. Above, a Falcon 9 SpaceX heavy rocket. AP Photo/John Raoux
“I think it would be pretty cool if you could vacation on the moon,””I believe it might be fairly cool if you could possibly trip on the moon,” Musk was quoted as saying.
He also waxed eloquent about another major obsession, “terraforming” Mars so people can live there, Business Insider reported.
“If you warm up Mars, you could one day make Mars like Earth, meaning with liquid oceans and life, and where you could walk outside without a space suit or anything. Mars is a fixer-upper of a planet, but it’s got a lot of potential,” Musk said.
Jamie Dimon’s JPMorgan is one of 23 banks working on the deal, with Goldman Sachs and Morgan Stanley serving as lead underwriters. Getty Images for America Business Forum
SpaceX’s S-1 submitting with the SEC in May included equally grandiose predictions. It also famous the company has been burning money – its launch and satellite tv for pc companies spent $8 billion in capital expenditures last 12 months, while its AI business spent $12.7 billion.
According to the submitting, SpaceX made $18.6 billion in income in 2025, up 33% from a 12 months earlier. The company reported a internet loss of $4.3 billion for the three months ended March 31.
SpaceX posted $18.6 billion in income in 2025, up 33% from a 12 months earlier. But it reported a internet loss of $4.3 billion for the three months ended March 31.
SpaceX posted $18.6 billion in income in 2025, up 33% from a 12 months earlier. REUTERS
Still, attendees at Thursday’s confab voiced enthusiasm about shares, the price for which SpaceX lately set at $135.
“It was an epic event,” Sidd Pagidipati, founder and chairman of Ayon Capital, told Bloomberg. “This company I think will be the biggest, largest, most iconic company in human civilization.”
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