SpaceX warns investors that the orbital AI data center may not be commercialized

SpaceX stated in its IPO application documents that orbital AI computing and the industrialization efforts on the Moon and Mars are still in the early stages, involving significant technological complexities that may not be commercially viable.

Elon Musk has called space AI computing an obvious choice, believing that orbit could become the lowest-cost storage location for AI within two to three years. The documents warn that orbital AI data centers operate in harsh and unpredictable space environments, where systems may fail. Additionally, delays in the development of Starship could also limit the company's growth strategy. SpaceX currently targets a valuation of approximately $1.75 trillion and plans to raise $75 billion in the coming months.