00:00Ignition.
00:03Elon Musk wants to build the infrastructure for AI in space and he's asking investors
00:08to help pay for it.
00:10The rocket, satellite and now AI company wants to raise around $75 billion in what will be
00:16the largest IPO in history.
00:18SpaceX is probably our greatest commercial space company hands down.
00:23It will enable the next iteration of what we want to see as the space industry continues
00:28to grow.
00:29This isn't just a space story anymore.
00:31After folding in Musk's AI startup XAI earlier this year, investors buying into SpaceX are
00:38also buying into the future potential of Grok AI models and Musk's vision for massive computing
00:44infrastructure.
00:45That ambition comes with a hefty price tag.
00:48New filings show SpaceX's AI business as in XAI lost nearly $6 billion last year and billions
00:55at the start of this year as money poured into computing power and infrastructure to compete
01:00with OpenAI and Anthropic.
01:01Still, SpaceX has major advantages.
01:04Starlink has become a powerful cash generator through its satellite internet business, while
01:09the company's launch operations continue to secure billions in government and private
01:14contracts.
01:15What people need to realize about this company is it isn't just a little bit ahead of the
01:22entire launch industry on planet Earth.
01:24It's orders of magnitude ahead.
01:26And now, Wall Street wants in.
01:28Goldman Sachs, Morgan Stanley and JP Morgan leading more than 20 banks working on the offering,
01:33and Musk negotiated record low fees.
01:36But the IPO also raises big questions like whether investors are comfortable betting not just
01:42on Musk's original vision of making humanity a multi-planetary species and getting to Mars,
01:48but on a future combining rockets, AI and social media into one sprawling empire.
01:54And so what we're buying is the next, you know, the global economy, you know, 2.0 and 3.0
02:01as we look at buying into SpaceX.
02:04If that happens, SpaceX could redefine what the modern public company looks like on Earth
02:09and in space.
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