3 More Things I Learned from the SpaceX IPO Prospectus

In conscionable a mates of weeks, SpaceX volition IPO. If you've been readying to bargain SpaceX stock, it mightiness beryllium a bully thought to peruse the company's prospectus earlier investing -- if you person the time.

Granted, astatine 380 pages successful magnitude (including footnotes), the SpaceX IPO prospectus is not an casual work -- oregon a speedy one. The prospectus besides spends a batch of clip telling america things we already cognize astir the astir celebrated Elon Musk institution that isn't named Tesla (NASDAQ: TSLA).

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Things I already knew

Not everything successful the SpaceX IPO prospectus is existent "news" -- not to those of america who've been pursuing the institution for years. SpaceX leads disconnected the papers with a bid of boasts astir however SpaceX has launched much than 650 missions to space, 85% of which utilized reusable rockets, and enactment 78 humans successful orbit.

Boasts astir the wildfire occurrence of Starlink, which began launching satellites successful 2019, went unrecorded successful 2020, and contiguous possesses 9,600 satellites successful orbit, serving 10.3 cardinal customers successful 164 countries.

SpaceX adjacent boasts astir the artificial quality (AI) concern that it has shoehorned into the SpaceX IPO, a concern that has accumulated 550 cardinal monthly progressive users since 2023 -- and that mislaid $6.4 cardinal past year.

But if you support speechmaking and propulsion past the braggadocio, immoderate of the things you find successful the prospectus conscionable mightiness astonishment you. Here, astatine least, are 3 things that amazed me.

1. Tesla isn't portion of the SpaceX IPO (except that it benignant of is)

Tesla, per se, is not portion of the SpaceX IPO. But the much you read, the much you recognize that Tesla is someway integral to SpaceX, being mentioned 87 times passim the prospectus.

A glossary of presumption utilized successful the prospectus, for example, mentions "Megapack" arsenic "a containerized, utility-scale lithium-ion artillery vigor retention strategy produced by Tesla and designed to stabilize powerfulness grids, store renewable energy, and regenerate fossil fuel" successful the SpaceX AI division.

Later, the prospectus refers to "Terafab, a spot manufacturing inaugural with Tesla and Intel," to an "agentic AI platform" called Macrohard that SpaceX is processing successful practice with Tesla, to definite Tesla chips being "optimized for the abstraction environment," and successful wide to collaboration done "shared engineering resources, intelligence property, and infrastructure crossed Tesla and SpaceX." The prospectus adjacent hints astatine plans to "deepen our strategical collaboration with Tesla."