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Dual-class plan to cement Elon Musk's control
SpaceX is reportedly weighing a share market debut that could redraw the power map of corporate America. The mechanism would issue two types of shares: One carrying standard voting rights, the other carrying “super votes”, typically 10 or 20 votes per share. The effect is simple. Founders can sell economic ownership while retaining control of decisions. CEO Elon Musk has argued publicly that meaningful influence requires around 25% of voting power - not necessarily ownership, but votes. At Tesla, where he holds about 11% of shares, he has floated the idea of a similar structure to safeguard his long-term strategy in artificial intelligence and robotics. The SpaceX proposal mirrors models used by Meta Platforms and Alphabet Inc. Supporters of this model suggest such frameworks protect long-term innovation from short-term market pressure. However, critics counter that unequal voting rights weaken accountability because public investors can own most of the stock yet hold limited say. SpaceX is understood to be targeting a listing that could value the business north of US$1.5 trillion and raise as much as $50 billion. If achieved, that would eclipse the 2019 float of Saudi Aramco, which raised $29 billion an
Space
xAI exodus sparks Musk’s SpaceX shake-up
Elon Musk has tightened his grip on his artificial intelligence venture xAI by cutting staff, reshaping management and folding the business into SpaceX in a transaction that redraws the boundaries of his empire. The immediate trigger was a leadership exodus with co-founders Jimmy Ba and Tony Wu this week confirming their departures, bringing the tally of founding exits to six out of 12. Earlier exits included senior technical architects behind the company’s core AI models. Their reasons have not been fully detailed; however, industry reports point to internal pressure to accelerate performance and close the gap with rivals such as OpenAI and Anthropic. Within days of the resignations, Musk announced a reorganisation. In a post on X, he said the restructure was designed to improve “speed of execution”, which is corporate lingo for making decisions faster and reducing internal friction. The overhaul “required parting ways with some people,” he wrote, while adding that hiring would continue. Under the new structure, xAI is split into four functional pillars: Grok (its chatbot and voice assistant), Coding, Imagine (video generation) and Macrohard - an internal automation unit using digital agents, aka software p
Space
SpaceX absorbs xAI; Musk eyes blockbuster IPO
Elon Musk is once again rearranging the deck chairs of his own corporate ship, this time by folding artificial intelligence start-up xAI into SpaceX as the rocket maker edges closer to what could be the biggest initial public offering (IPO) in modern markets. The deal, confirmed in regulatory filings in the state of Nevada, makes SpaceX the managing member of a new holding company that pulls together rockets, satellites, data, artificial intelligence (AI) and the X social media platform. There’s no mistaking the sort of consolidation Musk is looking for: one balance sheet, one story, and a valuation that could stretch to around US$1.25 trillion (A$1.799 trillion) if and when shares are offered to the public. Musk is betting that investors will buy into a tightly controlled, vertically integrated machine where launch vehicles feed satellites, satellites feed data, and data feeds AI models that can be sold to governments, defence agencies and corporations with deep pockets. As the financial anchor behind this manoeuvre, SpaceX - founded in 2002 - dominates commercial rocket launches and has become a key contractor to NASA, the U.S. space agency. It also owns Starlink, its satellite broadband network, with more than 9
Space
Bezos takes on Musk with new TeraWave satellite grid
Blue Origin has announced the launch of ‘TeraWave’, a proprietary satellite communications network designed to rival Elon Musk’s SpaceX. The system targets high-speed connectivity for enterprise and government clients, placing Jeff Bezos’ space company in direct competition with the market leader.Network SpecificationsFilings with the U.S. Federal Communications Commission (FCC) indicate the TeraWave system comprises 5,408 satellites, with the units operating in a combination of low Earth orbit (LEO) and medium Earth orbit (MEO). Unlike consumer-focused broadband services, this network targets government contracts, military operations, and orbital data centres. Blue Origin states that TeraWave utilises optical laser links for data backhaul - an architecture that supports symmetrical speeds reaching 6 terabits per second. CEO Dave Limp stated the network is designed specifically for enterprise customers requiring throughput levels that existing providers cannot currently guarantee.Market PositionThe announcement introduces a direct challenger to SpaceX’s Starlink and Starshield divisions. Starlink currently holds a significant share of the LEO market. Analysts note that TeraWave focuses on distinct high-value sectors
Space
China's LandSpace rumoured for US$2.7bn IPO in 2026
Beijing-based commercial aerospace firm LandSpace is accelerating its capital market strategy, aiming for a listing on the Shanghai STAR Market. Regulatory filings from the East indicate LandSpace completed its pre-listing "tutoring" process on December 23, marking a significant step toward an IPO that could value the entity at ~US$2.7 billion. The move comes as the company attempts to operationalise its Zhuque-3 (ZQ-3) reusable rocket, a vehicle explicitly engineered to compete with SpaceX’s Falcon 9 dominance. LandSpace is targeting high-frequency launch contracts for China’s "Guowang" satellite constellation, a 13,000-satellite network designed to provide global internet coverage. If the tech company can achieve routine reusability by 2026 as projected, it would become the first non-U.S. entity to operate a commercially viable reusable orbital launch vehicle.Zhuque-3 and company growthIn January 2024, the company successfully completed a vertical takeoff and landing test (VTVL-1) at the Jiuquan Satellite Launch Center. During that test, the prototype hovered for approximately 60 seconds and reached an altitude of 320 metres before executing a precision touchdown, validating the guidance algorithms used in the rec

Space
NASA chief: US to return to Moon within Trump's term
Newly appointed NASA Administrator Jared Isaacman said on Friday that the United States will return to the Moon within President Donald Trump’s second term. Speaking to CNBC’s “Closing Bell Overtime”, Isaacman said the president’s recommitment to the Moon is central to unlocking what he described as the emerging “orbital economy”. “We want to have that opportunity to explore and realise the scientific, economic and national security potential on the moon,” Isaacman said. The remarks were among Isaacman’s first public comments since his Senate confirmation last week, following a protracted approval process throughout 2025. Trump initially nominated Isaacman for the role in December 2024 but withdrew the nomination in May, citing unspecified “prior associations”. The decision was widely linked to Isaacman’s close ties with SpaceX chief executive Elon Musk, amid a public feud between Musk and Trump over the summer. Trump renominated Isaacman in November. The entrepreneur became a civilian astronaut after commanding an orbital mission aboard SpaceX’s Crew Dragon spacecraft in 2021 and has since emerged as a prominent advocate for commercial space development. Isaacman said lunar opportunities could include the est
Space
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