SpaceX IPO: Musk's firm set to launch first 'orbital data center' AI1 satellites in 2027, will put compute on Starlink craft
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Elon Musk’s SpaceX intends to launch its first AI1 satellites - dubbed orbital data centers - next year, following its record-breaking IPO on the New York Stock Exchange.
Key facts
SpaceX makes its debut on the Nasdaq market today, having pre-sold 556 million shares at $135 per share, valuing the company at $1.77trn
SpaceX celebrated its IPO by launching its Falcon 9 rocket, sending a batch of 29 Starlink satellites into space
Speaking to CNBC ahead of the IPO, SpaceX COO Gwynne Shotwell said the first AI1 units would launch in late 2027, but that the company intends to put compute on its Starlink broadband and Starlink
Shotwell told CNBC that the company “100 percent” sees itself as a competitor to the neoclouds, which provide AI data center space to the biggest AI companies
Summary
SpaceX makes its debut on the Nasdaq market today, having pre-sold 556 million shares at $135 per share, valuing the company at $1.77trn. Shares in SpaceX, which will appear under the symbol SPCX, have yet to begin trading at the time of writing, but are expected to sell for well above the IPO price. Musk, who is set to become the world’s first trillionaire on the back of the IPO, has touted SpaceX’s ability to build data centers in space as one of the reasons investors should buy into his company. It believes space is the best solution to the soaring compute demands of AI systems, and has filed plans to launch up to one million satellites as a data center megaconstellation, although critics have doubted the feasibility of the effort.