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SpaceX can be defined in many ways.
SpaceX is a financial instrument for Musk.
Before the IPO, SpaceX acquired xAI, Musk’s artificial-intelligence company, which itself acquired X, the social-media site, back in 2025.
The maneuver allowed SpaceX to claim that it believed it had “the largest actionable total addressable market in human history”:
$28.5 trillion, to be precise.
$26.5 trillion of that, according to the filing, would come from AI infrastructure and a…