Starlink, SpaceX's satellite internet service with nine million subscribers, is a huge reason for the sky-high valuation.
The IPO also hints at launching up to 1 million solar-powered satellites to set up AI data centers in orbit, an ambitious step toward solving Earth's energy challenges by moving computing power into space.
The IPO arrives while SpaceX faces scrutiny over its business practices and lawsuits from former employees.
Still, the company could shake up both tech and space industries.
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