SpaceX, Elon Musk's rocket and telecommunications company, has listed on the Nasdaq stock exchange with a valuation of $2.2 trillion, making Musk the world's first trillionaire. The listing has generated around $85 billion for the company, which Musk says is essential for building bases on the Moon, placing data centers in orbit, and sending humans to Mars.
Other AI companies, including OpenAI and Anthropic, have similar plans. But what does this mean for the US economy and global financial stability?
In a recent episode of BBC's Americast, host Justin Webb spoke with Ryan Mac, an investigative technology reporter for the New York Times who covers Elon Musk and AI leaders. They discussed how SpaceX's public valuation has made millionaires of many past and current employees. However, they also questioned the risks if Musk's grand plans remain unfulfilled.
As more companies offer shares to investors and the general public, the episode explored whether America is gambling on the promise of AI and whether the US economy is becoming dangerously reliant on one industry.