SpaceX plans to raise $75 billion in its initial public offering by selling 555.6 million shares at a target price of $135 per share, a source familiar with the matter told Reuters

SpaceX employee #13# @_Eric_Romo describes the moment @elonmusk and SpaceX knew they had to become vertically integrated: "They're canonically so vertically integrated now. But at the time, we were outsourcing basically everything." "Any time we would need some new part built, it was like, 'Send the drawing to the vendor and get it built.'" " Maybe two weeks later, if you're lucky, you get this part back." "One of the [vendors] was always the quickest, pretty cost-effective, and very communicative. We were really reliant on this one." "I remember sitting in the bunker in Texas underground with @lrocket and the team, and we get a call from that vendor and he's like, 'Hey sorry, but we're shutting down. We're closing our doors.'" "We realize we have to go hire as many people from that vendor as we can, and we have to build up the internal capacity because that's what's going to help us iterate." " It's all stuff that seems super obvious now." "But in 2003, that was not so obvious at the time."

SpaceX is negotiating to pay razor-thin fees to Wall Street firms handling its IPO, with banks still likely to rake in about $500 million from the record-setting debut. Sridhar Natarajan reports

SpaceX is pushing banks for one of the lowest IPO fee rates ever. The company is negotiating to pay less than 0.75% on its planned $75B IPO, though banks could still collect roughly $500M in fees. Goldman and Morgan Stanley are reportedly set to take the largest share of the fee pool, with 21 other brokers involved. That is far below the typical IPO underwriting fee range of 4%-7%, and even low versus other mega-IPOs: GM 2010: $15.8B raise, 0.75% fee Facebook 2012: $16B raise, 1.1% Alibaba 2014: $25B raise, 1.2% Uber 2019: $8B raise, 1.3% Visa 2008: $17.9B raise, 2.8%

SpaceX has joined three other industry groups in calling on the FCC to adopt a nationwide policy to automatically unlock phones tied to a carrier’s network 180 days after activation. “Automatic mobile device unlocking is essential to protecting consumer choice, promoting competition, and lowering costs in the mobile marketplace. We urge the FCC to prioritize the needs of consumers and their families over large corporations’ abilities to thwart competition,” SpaceX says.

"SpaceX AI is doing something that Anthropic and Open AI both didn't and couldn't do... what is xAI doing? xAI is building data centers, right now on Earth, that are larger, more productive, and they're built faster and at lower cost than any other data centers in the world... so when you look at that and you actually plot that out, 1.8 trillion may be low." @TeslaLarry

SpaceX millionaires 4,000 x $1mil , 400 x $100 mil Every employee who joined before the first succesful launch made (unless they sold early) more than $100 million. SpaceX lists June 12 at ~$1.75T. Work backward from the cap table. At $1.75T, clearing $100M takes ~0.0057% of the company. - 2002–2008, first ~500 in: joined at a ~$50M company. Held to $1.75T = a 17,000x. The core of the club — maybe 150–250 left holding - September 2008, SpaceX has first successful launch - 2010–2016: joined at $1B–$10B. Needs a senior grant — directors, principal engineers, early Starlink. ~100–200 - C-suite + board: Shotwell, Johnsen past $1B. A layer of SVPs below them clears $100M on equity, not salary. ~20–40 - Post-2016: joined at $20B–$350B. To hit $100M you'd have needed ~0.4% of the company. Impossible for an employee. This is the millionaire tier — almost none reach $100M The tally: ~400–500 at $100M+ A few dozen above $500M A handful of billionaires past Musk Same building. Same mission. Two orders of magnitude apart — set entirely by what year you walked in. Early isn't a strategy. It's a date stamp.

SpaceX has almost finished writing V1.0 of an in-house AI training stack in C that exact-maps to 220k GB300s with 800G NICs, making heavy use of pipeline parallelism and getting as close to bare metal as possible. The potential speed improvement vs JAX for large training runs is over an order of magnitude.

SpaceX IPO isn’t just about rockets or Starlink. The real story is orbital compute: AI data centers in space. The company projects a $28T+ total TAM, with 93% ($26T+) coming from AI alone.