BackElon Musk's SpaceX Aims for $75 Billion IPO

Urgent

NPR Business6/11/2026Business1 min readUnited States

Elon Musk's SpaceX Aims for $75 Billion IPO

Quick Look

Elon Musk's SpaceX, recently merged with xAI, plans to raise $75 billion in its upcoming IPO, marking the first of three major AI company offerings this year.

AI-generated summary

Why It Matters

Elon Musk's rocket company, SpaceX, is preparing for an initial public stock offering. This move follows its recent merger with xAI.

Font size

Audio will be available later today.

Elon Musk's rocket company, recently merged with xAI, is aiming to raise $75 billion in its initial public stock offering. It's the first of a trio of mega-IPOs from AI companies expected this year.

What to Watch

AI outlook — possibilities, not facts

SpaceX will complete its IPO within the next year.
Very likely · Within months

Open Questions

What is the exact timeline for the IPO?
What will be the stock ticker for SpaceX?
What percentage of the company will be offered?
How will the merger with xAI affect the IPO valuation?

US airlines incurred $6.66 billion in jet fuel costs in May, marking the second consecutive month above $6 billion. This represents an 84% increase from the previous year, driven primarily by higher fuel prices rather than increased consumption. The ongoing impact of Middle East conflict and volatile energy prices continues to affect the industry.

ABC News

Urgent·5h ago

Startup Battlefield Australia Extends Application Deadline to July 20

Applications for Startup Battlefield Australia have been extended to July 20 due to high interest. Selected founders will pitch to investors, media, and industry leaders, with the top three receiving Stripe credits and the grand prize winner gaining entry to TechCrunch Disrupt in San Francisco.

TechCrunch

Developing·5h ago

Netflix Struggles with Viewer Retention After First Seasons

Netflix faces declining viewership after initial seasons, with shows like 'Beef' losing 70% of viewers. Factors include long waits between seasons, competition from free platforms like TikTok and YouTube, and the legacy of its own binge-watching model, which hinders long-term engagement.

The Verge

Developing·5h ago

Data Centers Strain US Power Grids, Raising Costs for Manufacturers

US manufacturers, particularly in the Rust Belt, face soaring electricity costs due to surging demand from data centers straining the PJM Interconnection grid. This impacts profit margins for steelmakers and brick factories, potentially undermining "Made in America" initiatives.

Ars Technica

Developing·6h ago

Netflix, Disney, YouTube Eyeing 2030, 2034 World Cup Broadcast Rights

Netflix, Disney, and YouTube are reportedly interested in bidding for the U.S. broadcast rights to the 2030 and 2034 FIFA World Cups, potentially challenging Fox. Amazon and Apple may also join the race, leading to a bidding war. FIFA plans to sell English and Spanish rights together, expecting bids between $1.5 billion and $2 billion per tournament.

CNBC US Markets

Developing·7h ago

Microsoft Game Studios Hit by Layoffs at id Software, Bethesda

Microsoft has implemented significant layoffs across its game development studios, including id Software and Bethesda. Reports indicate a majority of id Software employees, including coders, were let go, while Bethesda is also undergoing substantial staff reductions to focus on core franchises, impacting games like The Elder Scrolls Online.