SpaceX CEO Elon Musk joined JPMorgan CEO Jamie Dimon to kick off the rocket company’s investor road show, painting a fantastic vision of data centers in space and vacations on the moon as the tech conglomerate eyes a historic $1.5 trillion valuation.
At a Thursday discussion at JPMorgan’s Manhattan headquarters, Dimon introduced Musk as “the Edison of our time,” according to Barron’s.
Beaming in via video chat, Musk went on to tout highlights of SpaceX’s plan to earn out-of-this world revenue. In a recent filing with the Securities and Exchange Commission, the company said it would generate billions from AI projects, the Starlink broadband and mobile services and “space-enabled solutions.”
“We’re also doing the AI data centers in space, which is another massive capital endeavor,” Musk was quoted as saying. “But I think it will be the primary means by which AI can be expanded. It’s increasingly difficult to build power plants on the ground.”
SpaceX plans to sell about 556 million shares on Nasdaq under the ticker SPCX, with the offering set to close on June 11 and trading starting the next day.
JPMorgan is one of 23 banks working on the deal, with Goldman Sachs and Morgan Stanley serving as lead underwriters.
Musk’s talk was light on details, Barron’s noted, and the tech guru largely stuck to the big-picture predictions for which he is famous.
At Thursday’s confab, targeted at wealthy retail investors, those included “hotels on the moon,” according to Business Insider.
“I think it would be pretty cool if you could vacation on the moon,” Musk was quoted as saying.
He also waxed eloquent about another major obsession, “terraforming” Mars so humans can live there, Business Insider reported.
“If you warm up Mars, you could one day make Mars like Earth, meaning with liquid oceans and life, and where you could walk outside without a space suit or anything. Mars is a fixer-upper of a planet, but it’s got a lot of potential,” Musk said.
SpaceX’s S-1 filing with the SEC in May included similarly grandiose predictions. It also noted the company has been burning cash – its launch and satellite businesses spent $8 billion in capital expenditures last year, while its AI business spent $12.7 billion.
According to the filing, SpaceX made $18.6 billion in revenue in 2025, up 33% from a year earlier. But the company reported a net loss of $4.3 billion for the three months ended March 31.
Still, attendees at Thursday’s confab voiced enthusiasm about shares, the price for which SpaceX recently set at $135.
“It was an epic event,” Sidd Pagidipati, founder and chairman of Ayon Capital, told Bloomberg. “This company I think will be the biggest, largest, most iconic company in human civilization.”
Credit: Source link
