SpaceX speeds up orbital AI data‑center tests ahead of $75 billion IPO

SpaceX announced that it will begin testing its orbital artificial‑intelligence data‑center prototype, AI1, by the end of 2027—one year earlier than previously planned. The prototype is a 20‑metre‑tall satellite with a 70‑metre wingspan, capable of peak power consumption of 150 kW and designed to radiate heat in space. The company says the early tests are intended to demonstrate the concept to investors before its historic initial public offering, which seeks to raise about $75 billion by issuing 555.6 million shares at $135 each, valuing the firm at roughly $1.77 trillion.

SpaceX already generates $26 billion of annual revenue from terrestrial AI‑compute contracts with firms such as Anthropic and Google, but it aims to add orbital compute capacity with a constellation of up to one million satellites. Achieving commercial service by 2028 will require thousands of Starship launches to place the large payloads in orbit at a cost low enough to be economically viable. The IPO filing also outlines a dual‑class share structure that gives Elon Musk roughly 82 % of voting power, limits shareholder lawsuits to specialized Texas courts, and reserves 30 % of the shares for individual investors.

The offering follows two decades of growth, from the early Falcon 1 failures in 2006‑2008 to the current status as the world’s leading private launch provider, operator of the Starlink satellite network, and developer of the Starship launch system. The IPO and the orbital AI‑data‑center initiative together mark the company’s shift from a launch services business to a broader space‑based technology conglomerate.