Trillion dollar rocket man: Why Elon Musk’s SpaceX could come crashing back down to earth after its record-setting IPO
Elon Musk has managed to outpace his main artificial intelligence rivals, Anthropic and OpenAI, by becoming the first to complete preparations for an initial public offering (IPO) . In effect, Musk has seized from them the opportunity to attract large-scale and scarce investment capital. The primary purpose of a traditional IPO is to raise public equity capital to scale production, modernize technology, or expand into new markets.