SpaceX just filed for what could be the biggest IPO everSpaceX generated $18.67 billion in revenue in 2025, driven largely by its Starlink satellite internet service, which brought in more than $11 billion, as reported by The Wall Street Journal. The company lost over $4.9 billion last year, with capital expenditures soaring to $20.7 billion last year, a leap from $11.2 billion in 2024, as reported by The New York Times. xAI, which recently merged with SpaceX, lost billions last year, while growing revenue by 22 percent, according to TechCrunch.
For months, rumors have swirled that SpaceX was preparing a historic market debut, with whispers of a $1.75 trillion valuation and a record-shattering $75 billion raise. Now that the paperwork is public, we finally have our first real look at the financials behind the company that normalized reusable rockets, built a space internet monopoly, and absorbed Musk’s xAI and the dredges of Twitter into its orbit.
Several of our anticipated market opportunities, including certain AI, orbital, lunar, and interplanetary transportation and industrial activities, are still emerging and evolving or do not currently exist, and such markets may not develop as we expect, or at all.
It also says its “substantial level of indebtedness could materially adversely affect our financial condition.”
According to the WSJ, Musk’s supervoting shares will give him 85 percent control over the company. In addition to Musk, SpaceX president Gwynne Shotwell, and CFO Bret Johnson, the SEC filing lists several other members of SpaceX’s board of directors, including Google executive Donald Harrison, Tesla board member Ira Ehrenpreis, as well as investors Randy Glein, Antonio Gracias, Steve Jurvetson, and Luke Nosek.
SpaceX describes its mission to investors as:
Our mission is to build the systems and technologies necessary to make life multiplanetary, to understand the true nature of the universe, and to extend the light of consciousness to the stars. To do this, we have formed the most ambitious, vertically integrated innovation engine on (and off) Earth with unmatched capabilities to rapidly manufacture and launch space-based communications that connect the world, to harness the Sun to power a truth-seeking artificial intelligence that advances scientific discovery, and ultimately to build a base on the Moon and cities on other planets.
SpaceX currently leads the industry in commercial space launches, with its massive Starship V3 rocket scheduled for flight on Thursday following a delay. The document repeatedly brings up establishing “orbital AI compute” by putting servers in space as a massive opportunity for revenue and one that it is uniquely positioned to deliver. In January, SpaceX asked the Federal Communications Commission for permission to launch one million data center satellites into space to support a growing AI buildout.
It’s telling investors that SpaceX believes it has “identified the largest actionable total addressable market (TAM) in human history,” potentially worth $28.5 trillion, with $370 billion from space, $1.6 trillion in connectivity with Starlink Broadband and Starlink Mobile, and $26.5 trillion in AI, which includes AI infrastructure, subscriptions, advertising, and $22.7 trillion in enterprise applications.
#SpaceX #filed #biggest #IPOBusiness,Elon Musk,News,Science,Space,SpaceX,Tech
SpaceX generated $18.67 billion in revenue in 2025, driven largely by its Starlink satellite internet service, which brought in more than $11 billion, as reported by The Wall Street Journal. The company lost over $4.9 billion last year, with capital expenditures soaring to $20.7 billion last year, a leap from $11.2 billion in 2024, as reported by The New York Times. xAI, which recently merged with SpaceX, lost billions last year, while growing revenue by 22 percent, according to TechCrunch.
For months, rumors have swirled that SpaceX was preparing a historic market debut, with whispers of a $1.75 trillion valuation and a record-shattering $75 billion raise. Now that the paperwork is public, we finally have our first real look at the financials behind the company that normalized reusable rockets, built a space internet monopoly, and absorbed Musk’s xAI and the dredges of Twitter into its orbit.
Several of our anticipated market opportunities, including certain AI, orbital, lunar, and interplanetary transportation and industrial activities, are still emerging and evolving or do not currently exist, and such markets may not develop as we expect, or at all.
It also says its “substantial level of indebtedness could materially adversely affect our financial condition.”
According to the WSJ, Musk’s supervoting shares will give him 85 percent control over the company. In addition to Musk, SpaceX president Gwynne Shotwell, and CFO Bret Johnson, the SEC filing lists several other members of SpaceX’s board of directors, including Google executive Donald Harrison, Tesla board member Ira Ehrenpreis, as well as investors Randy Glein, Antonio Gracias, Steve Jurvetson, and Luke Nosek.
SpaceX describes its mission to investors as:
Our mission is to build the systems and technologies necessary to make life multiplanetary, to understand the true nature of the universe, and to extend the light of consciousness to the stars. To do this, we have formed the most ambitious, vertically integrated innovation engine on (and off) Earth with unmatched capabilities to rapidly manufacture and launch space-based communications that connect the world, to harness the Sun to power a truth-seeking artificial intelligence that advances scientific discovery, and ultimately to build a base on the Moon and cities on other planets.
SpaceX currently leads the industry in commercial space launches, with its massive Starship V3 rocket scheduled for flight on Thursday following a delay. The document repeatedly brings up establishing “orbital AI compute” by putting servers in space as a massive opportunity for revenue and one that it is uniquely positioned to deliver. In January, SpaceX asked the Federal Communications Commission for permission to launch one million data center satellites into space to support a growing AI buildout.
It’s telling investors that SpaceX believes it has “identified the largest actionable total addressable market (TAM) in human history,” potentially worth $28.5 trillion, with $370 billion from space, $1.6 trillion in connectivity with Starlink Broadband and Starlink Mobile, and $26.5 trillion in AI, which includes AI infrastructure, subscriptions, advertising, and $22.7 trillion in enterprise applications.

![‘Millennium Actress’ Will Always Be My Favorite Satoshi Kon Film
Director Guillermo del Toro once compared watching a movie for the first time to going on a blind date. The first date is flirtatious with promise; the second go-around is the proper date. By the time you rewatch a movie three or four more times, you’ve graduated to marriage. In all my years watching anime for work and leisure, there’s no film I’ve felt married to as much as I do toward Satoshi Kon’s finest film, Millennium Actress. Unlike Kon’s showier film, which pushes animation to the forefront with adult themes by front-loading its opening moments with dreamlike imagery that provokes you into unease and awe-struck wonder, Millennium Actress‘ brand of phantasmal imagery doesn’t flourish in magical realism, horror, or yuletide merriment. Millennium Actress blossoms in the hazy-bright subjectivity and romanticization of memory. Namely, the memory of former showbiz actress Chiyoko Fujiwara (JP: Fumiko Orikasa, Mami Koyama; EN: Abby Trott, Erin Yvette, Cindy Robinson). When a reporter and his cameraman make a pilgrimage to Chiyoko’s home for an interview recounting her career, they wind up traveling through her memories and films. Chiyoko regales her guests, reminiscing about being a child during World War II, the mysterious man she helped flee from police officers, the promise they made to each other, and how his sudden disappearance led her to pursue stardom in cinema. Her hope was that she’d be so successful they’d have no choice but to reunite someday by the sheer gravitational force of her star power—if he’s even still alive. With her storied career behind her, Chiyoko’s life is spent longing forever and a day for a reunion that may never come.
[embed]https://www.youtube.com/watch?v=mWGRmtTUkvg[/embed] While the surface-level intrigue of a journalist interviewing a subject isn’t lost on me, given my vocation, the 2001 film feels like my personal cinematic Amigara fault; what perpetually strikes me about Kon’s film is how it takes its otherwise pleasantly banal story on the page and breathes vibrant life into it through artistry the likes of which the anime industry may never see again. Kon’s blocking and camera work have already been praised to death, and rightfully so, as the stuff film students study to understand scene setting, and Studio Madhouse’s creative efforts with Millennium Actress are no exception. What gets me invigorated about Millennium Actress whenever the film crosses my mind in my day-to-day is how it plays with memory as an active, living tapestry over the static, absolute depictions of it I’ve encountered in other media.
As Chiyoko recounts the chapters of her life—her humble beginnings in film, the trials and tribulations she faced to become a household name for a time—her audience in both viewers and the journalists who’re guests in her home are struck with the poignant sense that her life is one of pyrrhic victories. No matter how big she got, the goalpost was to be big enough that her assumed paramour would find her from her own clout, and they’d reunite in the most saccharine way imaginable; it never manifests as the reward at the end of her hard-earned journey—a journey that rivals the millennia her visage graces immortalized in celluloid. It’s Sisyphean, and the pain of being trapped recounting her trek up to this point feels less like a trip down memory lane and more like a prison behind the guardrails of her all-encompassing dissatisfactions. © Madhouse/GKIDS/HBO Max Then something magical happens. In the way memory isn’t us replaying events exactly as they occurred but reconstructing them from our own fallibly human recountenances, Chiyoko breaks free from the script of her own memory, transforming it into a lucid dream where her agency is superimposed over the roles she played, giving her the power to pursue the man she spent years waiting for. This, in turn, transports both the journalists and audiences into the fabric of the fantastical roles she’s played, referencing a pastiche of real-life cinema, including Akira Kurosawa’s Throne of Blood, Ishirō Honda’s Godzilla, and Stanley Kubrick’s 2001: A Space Odyssey, as Chiyoko flips the script on the very fabric of her life’s narrative to arrive at her truth.
Along that journey, Kon weaves a stirring, imaginative, sobering tale integrating the universal pang of life, life’s regrets, and what we make of what’s left when we approach our final curtain calls, looking back on the journey we faced to get to our final destination. And the answer Chiyoko arrives at as the film bookends itself, as she’s sat in the cockpit of a space rocket set for the stars, is etched in my soul forever. I treasure Millennium Actress so much that I nearly went into orbit myself when I interviewed Lady Snowblood actress Meiko Kaji during a Japan Society retrospective event earlier this year celebrating her 60-year career. It took nearly every fiber of my being to maintain my cool as my prepped questions for our Zoom interview made me realize I was put smack dab in the same scenario as Millennium Actress‘ journalists. Like them, I was interviewing and guffawing at the answers I received, which landed beyond the scope of what I could’ve ever hoped for from an actress whom I had the awesome responsibility to encapsulate a career that doubled my own lifetime. Like Chiyoko, Meiko never intended to be an actress at all. But through stubborn determination woven within the woman behind the character actress, she made a way out of no way. That shit means something to me, man. [embed]https://www.youtube.com/watch?v=wfnRYdTpzbs[/embed] Whether it’s Wong Kar-wai, Studio Ghibli, or the late-great dreamscape auteur, Satoshi Kon, everyone’s got their favorites from an eclectic creative’s body of work. Sometimes those favorites coincide with their indelible effects on both pop culture and their status as poster children for their visual ethos—your In the Mood for Love, Spirited Away, and Perfect Blue.
But my favorites of the bunch tend to be those with middle-child syndrome in their remarkable films. I’m enamored of how Kar-wai reverse-engineered the quantum Zeno effect of doomed romance and yearning in Happy Together; how Studio Ghibli told a timeless tale of environmentalism against industry and love caught in the crossfire in Princess Mononoke. But most of all, I’m moved by Kon’s beautiful tale of an actress reminiscing over her years spent hounding after an unattainable goal not to reach it, but for the thrill of the chase. Millennium Actress is streaming on HBO Max. Want more io9 news? Check out when to expect the latest Marvel, Star Wars, and Star Trek releases, what’s next for the DC Universe on film and TV, and everything you need to know about the future of Doctor Who. #Millennium #Actress #Favorite #Satoshi #Kon #FilmAnime,GKids,Madhouse,Millennium Actress,Satoshi Kon ‘Millennium Actress’ Will Always Be My Favorite Satoshi Kon Film
Director Guillermo del Toro once compared watching a movie for the first time to going on a blind date. The first date is flirtatious with promise; the second go-around is the proper date. By the time you rewatch a movie three or four more times, you’ve graduated to marriage. In all my years watching anime for work and leisure, there’s no film I’ve felt married to as much as I do toward Satoshi Kon’s finest film, Millennium Actress. Unlike Kon’s showier film, which pushes animation to the forefront with adult themes by front-loading its opening moments with dreamlike imagery that provokes you into unease and awe-struck wonder, Millennium Actress‘ brand of phantasmal imagery doesn’t flourish in magical realism, horror, or yuletide merriment. Millennium Actress blossoms in the hazy-bright subjectivity and romanticization of memory. Namely, the memory of former showbiz actress Chiyoko Fujiwara (JP: Fumiko Orikasa, Mami Koyama; EN: Abby Trott, Erin Yvette, Cindy Robinson). When a reporter and his cameraman make a pilgrimage to Chiyoko’s home for an interview recounting her career, they wind up traveling through her memories and films. Chiyoko regales her guests, reminiscing about being a child during World War II, the mysterious man she helped flee from police officers, the promise they made to each other, and how his sudden disappearance led her to pursue stardom in cinema. Her hope was that she’d be so successful they’d have no choice but to reunite someday by the sheer gravitational force of her star power—if he’s even still alive. With her storied career behind her, Chiyoko’s life is spent longing forever and a day for a reunion that may never come.
[embed]https://www.youtube.com/watch?v=mWGRmtTUkvg[/embed] While the surface-level intrigue of a journalist interviewing a subject isn’t lost on me, given my vocation, the 2001 film feels like my personal cinematic Amigara fault; what perpetually strikes me about Kon’s film is how it takes its otherwise pleasantly banal story on the page and breathes vibrant life into it through artistry the likes of which the anime industry may never see again. Kon’s blocking and camera work have already been praised to death, and rightfully so, as the stuff film students study to understand scene setting, and Studio Madhouse’s creative efforts with Millennium Actress are no exception. What gets me invigorated about Millennium Actress whenever the film crosses my mind in my day-to-day is how it plays with memory as an active, living tapestry over the static, absolute depictions of it I’ve encountered in other media.
As Chiyoko recounts the chapters of her life—her humble beginnings in film, the trials and tribulations she faced to become a household name for a time—her audience in both viewers and the journalists who’re guests in her home are struck with the poignant sense that her life is one of pyrrhic victories. No matter how big she got, the goalpost was to be big enough that her assumed paramour would find her from her own clout, and they’d reunite in the most saccharine way imaginable; it never manifests as the reward at the end of her hard-earned journey—a journey that rivals the millennia her visage graces immortalized in celluloid. It’s Sisyphean, and the pain of being trapped recounting her trek up to this point feels less like a trip down memory lane and more like a prison behind the guardrails of her all-encompassing dissatisfactions. © Madhouse/GKIDS/HBO Max Then something magical happens. In the way memory isn’t us replaying events exactly as they occurred but reconstructing them from our own fallibly human recountenances, Chiyoko breaks free from the script of her own memory, transforming it into a lucid dream where her agency is superimposed over the roles she played, giving her the power to pursue the man she spent years waiting for. This, in turn, transports both the journalists and audiences into the fabric of the fantastical roles she’s played, referencing a pastiche of real-life cinema, including Akira Kurosawa’s Throne of Blood, Ishirō Honda’s Godzilla, and Stanley Kubrick’s 2001: A Space Odyssey, as Chiyoko flips the script on the very fabric of her life’s narrative to arrive at her truth.
Along that journey, Kon weaves a stirring, imaginative, sobering tale integrating the universal pang of life, life’s regrets, and what we make of what’s left when we approach our final curtain calls, looking back on the journey we faced to get to our final destination. And the answer Chiyoko arrives at as the film bookends itself, as she’s sat in the cockpit of a space rocket set for the stars, is etched in my soul forever. I treasure Millennium Actress so much that I nearly went into orbit myself when I interviewed Lady Snowblood actress Meiko Kaji during a Japan Society retrospective event earlier this year celebrating her 60-year career. It took nearly every fiber of my being to maintain my cool as my prepped questions for our Zoom interview made me realize I was put smack dab in the same scenario as Millennium Actress‘ journalists. Like them, I was interviewing and guffawing at the answers I received, which landed beyond the scope of what I could’ve ever hoped for from an actress whom I had the awesome responsibility to encapsulate a career that doubled my own lifetime. Like Chiyoko, Meiko never intended to be an actress at all. But through stubborn determination woven within the woman behind the character actress, she made a way out of no way. That shit means something to me, man. [embed]https://www.youtube.com/watch?v=wfnRYdTpzbs[/embed] Whether it’s Wong Kar-wai, Studio Ghibli, or the late-great dreamscape auteur, Satoshi Kon, everyone’s got their favorites from an eclectic creative’s body of work. Sometimes those favorites coincide with their indelible effects on both pop culture and their status as poster children for their visual ethos—your In the Mood for Love, Spirited Away, and Perfect Blue.
But my favorites of the bunch tend to be those with middle-child syndrome in their remarkable films. I’m enamored of how Kar-wai reverse-engineered the quantum Zeno effect of doomed romance and yearning in Happy Together; how Studio Ghibli told a timeless tale of environmentalism against industry and love caught in the crossfire in Princess Mononoke. But most of all, I’m moved by Kon’s beautiful tale of an actress reminiscing over her years spent hounding after an unattainable goal not to reach it, but for the thrill of the chase. Millennium Actress is streaming on HBO Max. Want more io9 news? Check out when to expect the latest Marvel, Star Wars, and Star Trek releases, what’s next for the DC Universe on film and TV, and everything you need to know about the future of Doctor Who. #Millennium #Actress #Favorite #Satoshi #Kon #FilmAnime,GKids,Madhouse,Millennium Actress,Satoshi Kon](https://gizmodo.com/app/uploads/2026/07/Millennium-Actress.jpg)
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