Elon Musk's SpaceX eyes IPO

Elon Musk's rocket company, SpaceX, is making formal overtures to investors ahead of what is expected to be the largest IPO in years.

The company has reportedly secured an option to acquire the AI coding startup Cursor for $60 billion, a move that would pit it directly against industry leaders like OpenAI. However, SpaceX has warned potential shareholders that its ambitious plans for space-based AI infrastructure and human colonies on Mars rely on unproven technologies.

The IPO is also facing scrutiny from environmental activists who have staged protests outside the company's Starbase facility in Texas.