SpaceX is preparing to file its IPO prospectus with regulators this week or next, potentially raising over $75B, as OpenAI raises another $10B and Arm unveils its first in-house AI chip.
SpaceX is preparing to file its initial public offering prospectus with regulators later this week or next week, according to sources familiar with the plans, in what could become one of the largest IPOs in history with a target raise of more than $75 billion.
The filing comes amid a broader surge in tech industry funding, with OpenAI announcing it is raising an additional $10 billion from investors including Andreessen Horowitz, D.E. Shaw, MGX, and TPG, bringing its total fundraising to "north of $120 billion." The company's CFO Sarah Friar made the announcement during an appearance on CNBC.
Meanwhile, Arm Holdings is making a significant strategic pivot by unveiling its first in-house AI chip called the AGI CPU. This marks a departure from Arm's traditional role as a designer of chips for others, with Meta and OpenAI set to be among the first customers. Arm CEO Rene Haas projects the company will generate $25 billion in revenue by 2031, up from $4 billion in 2025, with $15 billion expected to come from sales of the AGI CPU.
The AGI CPU features up to 136 Neoverse V3 cores and 6GB/s memory bandwidth per core, delivering more than twice the performance per rack compared to x86 systems. The chip represents Arm's entry into the data center market as it competes with established players like Intel and AMD.
Other notable funding and product developments include:
- SK Hynix has submitted a confidential filing to the SEC for a possible $10 billion listing of American depositary receipts in 2026
- Halter, which provides AI-powered cow collars for remote herding, raised $220 million at a $2 billion valuation
- Doss, an AI-native inventory management platform, secured $55 million in Series B funding
- Kleiner Perkins raised $3.5 billion across two new funds, bringing its assets under management to over $21 billion
In regulatory news, Baltimore has become the first major U.S. city to file a lawsuit against Elon Musk's xAI, accusing the company of violating consumer protection laws by marketing its Grok chatbot as generally safe. The lawsuit alleges deceptive trade practices and seeks damages.
Meta is also facing legal challenges, with a New Mexico jury finding the company liable for $375 million in damages for failing to safeguard its platforms from child predators. The verdict represents a significant setback for the social media giant in its ongoing battles over platform safety.
On the product front, Apple released iOS 26.4 with new features including Playlist Playground, which generates Apple Music playlists from text prompts, and eight new emoji characters. The company is also testing a standalone Siri app with new "Ask Siri" and "Write with Siri" features as part of a planned reboot of its voice assistant.
Amazon has entered the consumer robotics market by acquiring New York-based Fauna Robotics, which is developing a 42-inch tall humanoid robot capable of walking, gripping items, and dancing. The acquisition positions Amazon alongside other tech giants investing in consumer robotics.
In open source developments, two versions of LiteLLM, an interface for accessing multiple large language models, were removed from the Python Package Index after a supply chain attack injected them with credential-stealing code. The incident highlights ongoing security challenges in the AI development ecosystem.
Anthropic announced an "auto mode" for its Claude Code that enables the AI to make permission-level decisions while preventing destructive actions like mass file deletion, aiming to reduce friction for developers using the tool.
As these companies continue to raise massive amounts of capital and develop increasingly sophisticated AI technologies, the tech industry appears to be entering a new phase of consolidation and expansion, with major players like SpaceX, OpenAI, and Arm positioning themselves for the next wave of growth in artificial intelligence and space technology.
The timing of SpaceX's IPO filing is particularly notable given the company's recent achievements with Starship and its Starlink satellite internet service, which has become a critical infrastructure component for both commercial and government applications. The company's valuation and fundraising targets suggest investors see significant growth potential in both its space launch capabilities and satellite communications business.
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