Rumors are circulating that Elon Musk is planning to IPO a combined SpaceX and xAI this summer. They expect to raise $50 billion at a $1.5 trillion valuation. This would be the largest IPO raise ever. The financials are mixed. They did $15 billion in revenue last year with $8 billion in EBITDA, but reportedly had a $2.4 billion loss for the first nine months of 2025. Both are highly capital-intensive businesses. Building 10,000 rockets will cost an estimated $350 billion, and xAI burned through $8 billion last year just on data centers. To make the $1.5 trillion valuation work and offer a 10% return to shareholders, the company would need to hit $80 billion in annual profit by 2031. That is more than Meta or Berkshire Hathaway makes right now. It is a massive bet on them monopolizing the space industry.