Musk is rumored to be planning a SpaceX IPO for June at a $1.5 trillion valuation. The company has merged with xAI and the new pitch involves building AI data centers in orbit to utilize solar power and bypass regulations. SpaceX revenue is projected to hit $24 billion this year. The proposed valuation would make it worth more than the top six US defense and space firms combined. The news has pushed up other space stocks like Rocket Lab and AST Space Mobile. Analysts are divided, with some seeing orbital compute as necessary for AI scaling while others view this as a bubble driven by hype.