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SpaceX’s mega-IPO plan: Lift-off or lofty hype?
Elon Musk’s SpaceX is reportedly gearing up for a colossal public listing in 2026, and the numbers being floated are so huge they make even the AI boom look modest. But behind the staggering valuations and sky-high expectations lies a simple question: how much of this story is real growth — and how much is simply rocket-fuelled optimism? SpaceX is preparing for what could be one of the biggest IPOs of all time, with plans to raise more than US$25 billion (A$37.63 billion) and potentially push its valuation north of $1 trillion, according to a source speaking to Reuters. The momentum behind this move comes largely from the explosive growth of Starlink, the company’s global satellite-internet network, and steady progress on its deep-space ambitions through the Starship program. Discussions with major banks are reportedly underway, with a target launch window of June or July 2026. Neither Musk nor the company has commented publicly on the plans. The timing aligns with a broader revival in the IPO market, which rebounded in 2025 after years of sluggish activity. Wall Street expects even more activity heading into 2026 as high-profile private giants finally consider going public. Industry analysts view SpaceX’s
Space
Blue Origin upgrades New Glenn, plans super-heavy rocket
Jeff Bezos' space technology company Blue Origin will build an upgraded version of its New Glenn rocket, including high-performance engines, and later launch a new super-heavy class rocket. The upgrades will enhance the rockets’ reusability as well as their propulsion, Blue Origin said. New Glenn 9x4, its next super-heavy class rocket, will carry more than 70 metric tonnes to low-Earth orbit. “These enhancements will immediately benefit customers already manifested on New Glenn to fly to destinations including low-Earth orbit, the Moon, and beyond,” wrote Blue Origin. “The next chapter in New Glenn’s roadmap is a new super-heavy class rocket.” The company’s upgraded New Glenn rockets will include 4.5 million pound-force booster engines, increasing from the current 3.9 million pound-force engines. Engines for its upper stage will reach 400,000 pound-force of thrust, rising from 320,000 pound-force. Its new super-heavy class rocket, New Glenn 9x4, will also be able to carry over 14 metric tonnes to geosynchronous orbit. Once built, both the 9x4 and current 7x2 rockets will be available for Blue Origin missions. Blue Origin did not disclose an expected launch date for its first 9x4 rockets. Bezos will also be
Space
STAR WARS: Investment in space R&D is lifting off
The new front line in the battle for technological innovation is 2,000km straight up. And the Ukraine conflict has made it battlefield reality. Elon Musk's SpaceX Starlink constellation endured extensive jamming and cyber attacks on its on-orbit assets, effectively normalising satellite attacks as just another tool in modern warfare. Over the weekend, observers found that Russian satellites are stalking British assets in orbit weekly, according to Major General Paul Tedman, head of UK Space Command. He confirmed these satellites aren't just passing by; they carry “payloads on board that can see our satellites and are trying to conduct reconnaissance on them”. And this isn't an isolated incident. Back in May 2024, Russia reportedly deployed a satellite that U.S. intelligence believes is a “chaser” - capable of rendezvousing and neutralising other satellites. That deployment lines up perfectly with warnings from NATO Secretary General Mark Rutte about Russia's plans for nuclear weapons in space. Of course, the threat perimeter is way broader than just Russia. Russia and China have rapidly expanded their space warfare capabilities though... "they can jam, blind, manipulate, or kinetically destroy satellites," Ger
Space
Firefly acquires SciTec for US$855 million
Space and defence technology company Firefly Aerospace has acquired SciTec for around US$855 million. Firefly acquired the advanced national security technologies leader with a combination of US$300 million in cash and US$555 million in Firefly shares at US$50 per share. The acquisition is set to improve Firefly’s comprehensive space services by adding mission-proven defence software analytics, remote sensing and multi-phenomenology data expertise. SciTec will also further the company's ground and data onboard processing as well as AI-enabled systems designed for low-latency operations to support advanced threat tracking and response across multiple domains. “SciTec’s mission-proven software and big data processing capabilities provide warfighters with rapid, accurate information to enable informed decisions that protect our homeland from emerging threats,” FireFly CEO Jason Kim said. “These capabilities significantly enhance our ability to deliver integrated, software-defined solutions for critical national security imperatives, particularly Golden Dome.” This comes after SciTech generated revenues of near US$164 million for the 12 months ending 30 June 2025. SciTec was also awarded a US$259 million contract
Space
SpaceX plans US$2bn boost for Musk’s AI startup venture
In an attempt to compete with rival OpenAI, rocketmaker Space Exploration Technologies Corp, commonly known as SpaceX, plans to sink US$2 billion into Elon Musk's artificial-intelligence startup company xAI as part of the Grok chatbot maker’s recent $US5 billion equity raise. Earlier this year, Musk, founder of SpaceX, merged xAI’s research lab with X’s (formerly Twitter), social media platform – creating a new company valued at US$113 billion - to expand the reach of its Grok chatbot. Now powering support for the SpaceX-developed satellite network Starlink, the Grok chatbot is understood to be eyeing future integration into Tesla's Tesla (TSLA.O) Optimus robots. In response to a post on X about whether Tesla (TSLA.O) could also invest in xAI, Musk said, "It would be great, but subject to board and shareholder approval," without confirming or denying SpaceX's investment plans in xAI. Despite Musk calling xAI "the smartest AI in the world," the chatbot has attracted some negative press over comments on social media. Posts on the X account of the Grok chatbot were removed last week after complaints from X users and the Anti-Defamation League that Grok produced content with antisemitic inflections and praise for Adolf

Space
Over 2,100 senior NASA employees to be laid off
The United States government is reportedly planning to lay off more than 2,145 senior NASA employees, as the administration seeks to cut NASA’s funding by 25%. These employees are in GS-13 to GS-15 positions, covering specialised skills and management, according to Politico. The vast majority are working in core mission sectors like space flight and scientific research, and these layoffs will affect staff at all of NASA’s 10 regional centres. Seven former heads of NASA’s Science Mission Directorate sent a letter to Congress last week in protest of potential NASA funding cuts. “The economics of these proposed cuts ignore a fundamental truth: investments in NASA science have been and are a powerful driver of the U.S. economy and technological leadership,” they wrote. Under the White House’s budget proposal for fiscal year 2026, NASA’s science activities would be cut by 47%. Its total funding would be slashed by 25%, and more than 5,000 staff would be dismissed. These are the largest NASA cuts ever proposed, and would leave the agency with its smallest budget since 1961. This would likely heavily impact NASA’s Artemis moon exploration program, which has a crewed lunar flyby mission scheduled for 2026. The U.S. Senate i
Space
US$88m pollution-tracking satellite goes missing
An US$88 million pollution tracking satellite has gone missing in space in a major setback for climate efforts. The MathaneSat satellite has the backing of Google and billionaire Jeff Bezos and was launched only last year on a SpaceX rocket. The satellite was designed to collect data for five years on sources of methane greenhouse gas. This is responsible for nearly a third of human-induced warming, and will help curb the most serious offenders. The mission failure on 20 June came just as New Zealand was poised to take over the project. The New Zealand government invested NZ$29 million in the satellite and the New Zealand Space Agency was supposed to take over the project in June. "Clearly this is a disappointing development. As those who work in the space sector know, space is inherently challenging, and every attempt, successful or not, pushes the boundaries of what we know and what we're capable of,” the agency said in a statement. According to the Environmental Defence Fund, which oversees the satellite, communication was lost 10 days ago, and an investigation is underway to see what happened. While methane doesn't hang around the atmosphere as long as carbon dioxide it is 28 times stronger over a 100-year
Space
NASA is bringing its livestream launches to Netflix
NASA has teamed up with Netflix to bring launch livestreams to the streaming platform. In a media release, the space organisation said NASA+ will be available on Netflix soon, giving audiences another option to stream rocket launches, astronaut walks, mission coverage and breathtaking live views of Earth from the International Space Station. “The National Aeronautics and Space Act of 1958 calls on us to share our story of space exploration with the broadest possible audience,” said Rebecca Sirmons, general manager of NASA+ at the agency’s headquarters in Washington. “Together, we’re committed to a Golden Age of Innovation and Exploration – inspiring new generations – right from the comfort of their couch or in the palm of their hand from their phone.” While NASA+ is already freely available with no ads through the NASA app and on the agency’s website, the space agency is hoping to leverage Netflix’s global audience of 700 million to increase engagement on its streams. This comes as Netflix plans to add more live content to the platform. This includes the Christmas Day NFL livestream viewed by millions, the halftime concert headlined by Beyonce and the boxing match between Jake Paul and Mike Tyson that was viewed
Space
India sends it first astronaut to space in 41 years
India is celebrating its first astronaut in space for 41 years on the Axiom-4 (Ax-4). Group Captain Shubhanshu Shukla, is the first Indian since 1984 to travel to space, becoming the second Indian ever to do so. The India Space Agency, Isro has been conducting a number of tests before venturing into space and paid 5 billion rupees (A$89.1 million) to secure a seat for Group Captain Shukla and his team for his training. Upon takeoff, Group Captain Shukla shared a message with India. "We're back in space after 41 years and what an amazing ride it's been," he said. "Right now, we are orbiting Earth at a speed of 7.5km per second. On my shoulder, I carry the Indian flag. This is not the start of my journey to the ISS. This is the beginning of India's human spaceflight. I welcome all my fellow Indians to be a part of this journey and feel proud and excited." The 39-year-old was among four Indian air force officers shortlisted to travel on the country's first-ever human space flight, scheduled for 2027. India also has ambitious plans to set up a space station by 2035 and send an astronaut to the Moon by 2040. The 14-day mission also includes crew members from the U.S., Poland and Hungary and has also been termed as