00:00It's Benzinga, bringing Wall Street to Main Street.
00:03SpaceX is moving closer to an initial public offering after years of resisting public markets,
00:09driven by Elon Musk's push to build AI data centers in space, according to the Wall Street Journal.
00:14The push to build AI data centers in space gained momentum as Musk and others
00:19proposed deploying solar-powered computing infrastructure in orbit,
00:23despite skepticism over technical challenges.
00:26SpaceX officials concluded that building and launching thousands of satellites
00:30would require tens of billions of dollars,
00:33making an initial public offering the fastest way to raise the necessary capital.
00:38The company has discussed selecting banks soon,
00:40and Musk has told people he wants to complete an IPO by July.
00:45Investors also view a SpaceX IPO as a way to support Musk's AI company, XAI,
00:51which trails rivals in revenue and users.
00:53SpaceX previously agreed to invest $2 billion in XAI.
00:58For all things money, visit Benzinga.com.
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