Back to all tech news

Elon Musk’s SpaceX files IPO, setting stage for biggest listing ever

A public listing at a potential valuation of more than $1.75 trillion would signal that space exploration has moved from speculative venture to a mainstream investment

Reuters
Reuters

01 April, 2026

Elon Musk’s SpaceX files IPO, setting stage for biggest listing ever

TT

16

Article Summary
SpaceX has confidentially filed for a US IPO, potentially the largest ever, valuing the company at over $1.75 trillion. Driven by reusable rockets and Starlink, the listing signals space exploration as a mainstream investment. The move follows SpaceX's merger with Musk's xAI, raising scrutiny of Musk's sprawling "Muskonomy" and its intertwined governance.

Elon Musk’s SpaceX has confidentially filed for a US initial public offering, setting the stage for what could become the largest stock market listing on record, a person familiar with the matter told Reuters on Wednesday.

A public listing at a potential valuation of more than $1.75 trillion would signal that space exploration has moved from speculative venture to a mainstream investment theme. SpaceX‘s growth has been driven by its reusable rockets and the Starlink satellite internet network.

The filing comes after SpaceX merged with Musk’s artificial intelligence startup xAI in a deal that valued the rocket company at $1 trillion and the developer of the Grok chatbot at $250 billion.

Musk, the world’s richest person, runs a sprawling business empire that spans electric vehicles at Tesla, space launch, satellite broadband, AI and social media.

“Investors could use a sum-of-the-parts analysis, but, like with Tesla, SpaceX’s valuation could very much fluctuate wildly based off how much the public believes in Musk’s vision,” said Angelo Bochanis, data and index associate at Renaissance Capital, a provider of IPO-focused research and ETFs.

“So far, investors seem to be clamoring for any sort of exposure to SpaceX.”

SpaceX did not immediately respond to a Reuters request for comment.

Largest IPO ever

The Starbase, Texas-headquartered firm could seek to raise more than $50 billion in the IPO, handily surpassing the 2019 flotation of Saudi Aramco, which remains the largest IPO on record.

A blockbuster SpaceX debut could jolt the IPO market back to life after years of subdued activity, with market participants expecting strong demand from both retail and institutional investors, some drawn by Musk’s brand and others seeking exposure to SpaceX‘s fast-growing space and satellite businesses.

SpaceX is the world’s most valuable privately held company, based on the valuation implied by its merger deal with xAI. The rocket startup was last valued at about $800 billion in a secondary share sale independently.

Several other high-profile startups, including ChatGPT maker OpenAI and rival Anthropic, are also said to be weighing large IPOs, setting up a broader test of investor appetite for new listings.

Many large startups have remained private for longer, tapping deep pools of capital in private markets, but a listing by a company such as SpaceX could encourage more of them to pursue public offerings.

Bloomberg News first reported on the confidential filing earlier on Wednesday.

‘Muskonomy’

A listing would deepen analyst and investor scrutiny of “Muskonomy” — the billionaire’s sprawling business empire and intertwined fortunes — bringing renewed focus to how his companies are financed, governed and valued across markets.

“A likely dual-class share structure would let Musk tap public capital while retaining firm control, even after the substantial dilution that comes with a public offering,” said Minmo Gahng, assistant professor of finance at Cornell University.

He runs electric vehicle maker Tesla, brain-chip maker Neuralink and tunnel-digging firm The Boring Company.

Musk also folded social media platform X into xAI through a share swap last year, giving the AI startup access to the platform’s data and distribution network.

Questions about Musk’s ability to oversee multiple companies with market values exceeding $1 trillion could temper investor enthusiasm, analysts say.

“It is understandable that investors would be concerned with Musk overseeing multiple significant enterprises, especially given his polarizing public profile at times. However, SpaceX appears somewhat differentiated,” said Kat Liu, vice president at ‍IPOX.

“The business is operationally mature, technologically ahead in several key areas, and profitable, which provides a solid fundamental underpinning.”

Space race

The move comes as NASA is set to launch four astronauts as soon as Wednesday evening on a 10-day flight around the moon, marking the most ambitious US space mission in decades.

SpaceX generated about $8 billion in profit on $15 billion to $16 billion of revenue last year, Reuters reported in January, citing people familiar with the matter.

A growing number of billionaires and private firms have bankrolled a fresh space race in the US, investing heavily in rockets, satellite networks and lunar ambitions, including SpaceX and Jeff Bezos’ Blue Origin.

As NASA leans more on commercial partners and defense budgets climb, space is emerging as a strategic battleground shaped by technological edge, national security priorities and the promise of new economic gains.

SpaceX has also sought permission to launch up to 1 million solar‑powered satellites engineered as orbital data centers, far beyond anything currently deployed or proposed.

NASA engineers and technologists have speculated for nearly two decades about moving energy‑hungry computing off the planet.

SpaceX‘s merger with xAI has drawn investor attention to how Musk could use a tightly integrated network of rockets, satellites and AI systems to overcome technical and capital hurdles, extending artificial intelligence infrastructure beyond Earth.

Artificial intelligence has become Wall Street’s favorite theme, with anything tied to AI helping fuel a powerful rally in technology stocks and lifting valuations across the sector.

RTA expands vehicle licensing network across Dubai: Key areas revealed

The move comes as Dubai continues to experience rapid urbanisation and population growth, alongside expanding commercial and investment activity across key sectors

Gulf Business
Gulf Business

01 April, 2026

RTA expands vehicle licensing network across Dubai: Key areas revealed

TT

16

Article Summary
Dubai's RTA is expanding vehicle testing and registration centre licences in Deira, Bur Dubai, and Mohammed Bin Rashid City. This initiative aims to improve service accessibility, foster economic growth, and boost private sector involvement. The move supports Dubai's urban expansion by bringing services closer to residents, streamlining procedures, and reinforcing efficient government operations.

Dubai’s Roads and Transport Authority (RTA) has announced the expansion of licensing opportunities for new vehicle testing and registration centres across three major areas, Deira, Bur Dubai, and Mohammed Bin Rashid City, in a move aimed at strengthening service accessibility and supporting economic growth.

According to an official RTA statement, the initiative enables both existing operators and new investors to apply for licences to establish new centres or expand with additional branches.

Read more-Dubai RTA launches autonomous taxis: Here’s where you can ride them

“This step creates new investment opportunities in a vital sector,” the RTA said in a media report, highlighting its commitment to enhancing private sector participation.

The move comes as Dubai continues to experience rapid urbanisation and population growth, alongside expanding commercial and investment activity across key sectors.

Enhancing access and efficiency

The authority said the expansion will bring vehicle testing and registration services closer to residents, ensuring greater convenience and improved service delivery.

“This initiative aims to expand the network of service centres through which RTA delivers vehicle testing and registration services,” the report noted, adding that it aligns with efforts to ensure sustainable and efficient licensing operations.

The plan also reflects RTA’s broader strategy to strengthen public-private partnerships, a key pillar in driving economic growth across the emirate.

Officials emphasised that the authority will support investors throughout the application process, ensuring compliance with regulations while improving inspection efficiency and road safety outcomes.

The expansion forms part of a wider effort to build an integrated infrastructure for vehicle testing and licensing services, in line with Dubai’s long-term mobility and safety goals.

Currently, Dubai is home to 29 approved vehicle testing and licensing centres, all equipped with advanced technologies and staffed by qualified personnel to deliver high-quality services.

The RTA said the continued expansion will help enhance customer experience, streamline procedures, and reinforce Dubai’s position as a leader in efficient government services.

Ryanair warns fuel disruption could hit summer flights

The International Air Transport Association (IATA) estimates that around 25 per cent to 30 per cent of Europe’s jet fuel demand originates from the Persian Gulf

Reuters
Reuters

01 April, 2026

Ryanair warns fuel disruption could hit summer flights
Image: Getty Images

TT

16

Article Summary
Ryanair's CEO warns that the Middle East conflict could disrupt European jet fuel supplies from May, potentially impacting 25% of their fuel. IATA highlights Europe's vulnerability due to its reliance on Persian Gulf fuel. While Ryanair's current supply is secure, continued disruption may lead to increased ticket prices through June.

Jet fuel supply to Europe could be disrupted from May if the Middle East conflict continues and potentially put 25 per cent of Ryanair’s supplies at risk through May and June, CEO ​Michael O’Leary told Sky News on Wednesday.

The International Air Transport Association (IATA) estimates that around 25 per cent to 30 per cent of Europe’s jet fuel demand originates from the Persian Gulf, which it warned puts it among the most exposed regions to the impact on supply from the US-Israeli war.

“If the war finishes and the Straits of Hormuz reopens by the middle or end of April, then there’s no risk to supply,” O’Leary said.

“If the war continues and the disruption to supply continues, we think there’s a reasonable risk that some low level, maybe 10 per cent, 20 per cent, 25 per cent of our supplies might be at risk through May and June.”

O’Leary said the Irish airline, Europe’s largest by passenger numbers, has not cut any flights because its fuel supply is currently secure but that the risk of “significantly higher” ticket prices remains through May, April, June.

He told Ireland’s Business Post newspaper on Sunday that he expected summer airfares to rise by more than 3 per cent year-on-year due to a combination of capacity constraints and higher oil prices for less well hedged competitors.

The budget carrier said in January it had covered about 80 per cent of its jet fuel requirements for the fiscal year to the end of March 2027 based on a crude oil price of $67 per barrel.

Counting down: What you need to know about the Artemis II moon mission

The first crewed lunar mission in more than 50 years is set to launch today

Neesha Salian
Neesha Salian

01 April, 2026

Counting down: What you need to know about the Artemis II moon mission
NASA/Bill Ingalls

TT

16

Article Summary
NASA's Artemis II mission, scheduled for April 2026, will send four astronauts around the Moon in the Orion spacecraft. This ten-day flight, the first crewed lunar mission since Apollo 17, aims to test life support systems and validate procedures for future lunar landings.

For the first time since Apollo 17 touched down on the lunar surface in December 1972, human beings are about to travel to the Moon.

NASA’s Artemis II mission, the first crewed flight under the agency’s Artemis programme, is targeting launch no earlier than Wednesday, April 1, 2026, with a two-hour window opening at 6:24 pm EDT from Kennedy Space Center in Florida. Additional launch opportunities remain available through Monday, April 6.

A translunar injection burn on April 2 will send the crew toward the Moon, followed by the lunar flyby on April 6, during which the crew is expected to surpass the record for the farthest distance from Earth ever travelled by humans, previously set by Apollo 13 at 248,655 miles.

Splashdown in the Pacific Ocean is scheduled for April 10, with a post-splashdown news conference the same evening.

The crew on the Artemis II

Four astronauts will make the journey, each bringing a remarkable record to the mission.

Reid Wiseman (commander) is a US Navy test pilot and veteran NASA astronaut who previously spent 167 days aboard the International Space Station in 2014. As Artemis II commander, he will be responsible for the overall safety and success of the mission.

Victor Glover (pilot) became the first Black astronaut to serve as a long-duration crew member on the ISS during his 2020–21 mission, logging 168 days in space. As pilot, he will operate the Orion spacecraft during critical phases of the flight.

Christina Koch (mission specialist) holds the record for the longest single spaceflight by a woman, 328 consecutive days on the ISS, and will become the first woman to travel to the Moon.

Jeremy Hansen (mission specialist) is a Canadian Space Agency astronaut and former Royal Canadian Air Force fighter pilot. Artemis II will be his first spaceflight, and he will become both the first Canadian and the first non-American to journey to the Moon.

The mission

Artemis II is not a landing but it is a critical step toward one. The crew will spend approximately 10 days aboard the Orion spacecraft, flying a trajectory that takes them around the Moon and back.

The mission has two core objectives: testing Orion’s life support systems with a human crew for the first time, and validating the systems and procedures that will be needed for Artemis III — the mission currently planned to return astronauts to the lunar surface.

The spacecraft will launch atop NASA’s Space Launch System, currently the most powerful rocket in the world, from Launch Complex 39B at Kennedy Space Center — the same site that sent Apollo missions to the Moon more than half a century ago.

How to watch

NASA will stream all pre-launch briefings, the launch itself, and 24/7 mission coverage on its YouTube channel, as well as on NASA+ and Amazon Prime.

A full schedule of Artemis II coverage events — including exact broadcast times — is available at go.nasa.gov/4c46fOu.

Drone debris injures one in Umm Al Quwain after interception, authorities say

Incident follows earlier fatality in Fujairah as UAE air defence systems intercept unmanned aerial threats amid heightened regional tensions

Gareth van Zyl
Gareth van Zyl

01 April, 2026

Drone debris injures one in Umm Al Quwain after interception, authorities say
A general view of a road in Umm al Quwain, United Arab Emirates. (Getty Images)

TT

16

Article Summary
An intercepted drone caused debris to fall in Umm Al Quwain, injuring one person near an industrial area. This follows a similar incident in Fujairah, where drone debris killed one person. Both UAVs were intercepted by air defence systems. These incidents occur amid heightened regional tensions; UAE air defences have intercepted numerous aerial threats recently.

Authorities in Umm Al Quwain have confirmed that one person was injured after debris from an intercepted drone fell in the emirate on Wednesday.

In a statement posted on its official social media channels, the Umm Al Quwain Government Media Office said the incident occurred near an industrial facility in the Umm Al Thuoob area, after air defence systems successfully intercepted an unmanned aerial vehicle.

Emergency response teams were deployed to the scene and handled the situation in line with established safety protocols, authorities said.

Officials also urged the public not to circulate rumours and to rely solely on official sources for updates.

The incident comes just hours after a similar event in Fujairah, where authorities confirmed that one person was killed after debris from an intercepted drone fell on a farm in the Al Rifa area.

Read more: Fujairah incident: One killed after drone debris falls on farm, authorities say

According to the Fujairah Government Media Office, the unmanned aerial vehicle was intercepted by air defence systems, with fragments subsequently landing in a populated area. The victim, a Bangladeshi national, died as a result of the incident. No further casualties were reported.

Authorities in Fujairah said emergency teams responded promptly and are managing the situation in accordance with safety procedures.

Both incidents come amid heightened regional tensions, with UAE authorities maintaining a high level of vigilance and response readiness as air defence systems continue to intercept aerial threats.

A photograph taken on December 27, 2025 shows an Iranian-designed Shahed 136, (Geranium-2) drone used by Russian Army flying over Kyiv during a Russian drones and missiles attack, amid the Russian invasion in Ukraine. (Photo by Sergei SUPINSKY / AFP via Getty Images)

Meanwhile, the latest data from the UAE Ministry of Defence, released on March 31, showed that air defence systems had engaged 36 UAVs, four cruise missiles and eight ballistic missiles in the previous 24 hours. Cumulatively, authorities said 1,977 drones, 19 cruise missiles and 433 ballistic missiles have been intercepted since the onset of the escalation on February 28.

China stocks rise as Trump signals Iran war de-escalation

China’s long-term bond yields remained stable, despite volatility in global debt markets

Reuters
Reuters

01 April, 2026

China stocks rise as Trump signals Iran war de-escalation
Image: Getty Images/Image for illustrative purpose

TT

16

Article Summary
Chinese and Hong Kong stocks rallied, and the yuan strengthened, following signals of a potential de-escalation of the Iran conflict. President Trump suggested a swift end to US military action, boosting global markets. While China's markets benefitted, analysts expect less pronounced gains compared to other regions due to China's relative economic stability and energy resources.

China and Hong Kong stocks joined a global relief rally on Wednesday and the yuan firmed against the dollar after US President Donald Trump signalled that an end to the Iran war could be in sight.

Trump said the US could end its military attacks on Iran within two to three weeks and Tehran does not have to make a deal as a prerequisite for the conflict to wind down.

“The Iran war will wrap up quickly,” said Zeng Wenkai, chief investment officer at Hong Kong-based Shengqi Asset Management.

“The US and Iran won’t need to strike a deal. US troops will pull out, Iran won’t really have a choice and won’t block the strait and global stocks will jump.”

However, he expected China stocks to rise less forcefully than other markets, which have been hurt more severely by the oil shock.

China’s blue-chip CSI300 Index rebounded 1.7 per cent in its best day in almost three months. The Shanghai Composite Index gained 1.5 per cent.

In Hong Kong, the Hang Seng rebounded 2 per cent, as Asian markets rallied more than 4 per cent following an overnight jump on Wall Street.

China’s yuan firmed to its strongest level in two weeks against the dollar, trading at 6.8725 in the late afternoon, as optimism about a war de-escalation reduced the greenback’s appeal.

China’s long-term bond yields remained stable, despite volatility in global debt markets.

“As the world’s manufacturing powerhouse, China can provide a sense of stability to the world,” said Zhang Di, an economist at China Galaxy Securities.

China would be relatively unscathed from an oil shock as it is a coal-rich country, has a dominant position in new energy and has ample oil reserves, Zhang said.

But he said “the US is sitting on a tiger and will find it difficult to get off,” risking being drawn into a prolonged war or losing international credibility.

China stocks have lost roughly 4 per cent since the US and Israel struck Iran on February 28, compared with a 10 per cent slump in Asian equities and a 6 per cent tumble in world stocks.

China’s drugmakers, chipmakers and tourism stocks jumped sharply on Wednesday.

In Hong Kong, biotech firms, shipping companies and materials stocks led gains.

More news in tech