An Australian judge fined X Corp. 650,000 Australian dollars (U.S. $465,000) on Thursday (May 21, 2026) for failing to provide information to an online safety watchdog in 2023 about how it tackled child sexual exploitation content. Federal Court Justice Michael Wheelahan also ordered the
Taiwan leader Lai Ching-te said on Thursday (May 21, 2026) that he would be "happy" to talk to U.S. President Donald Trump, a conversation that would break more than four decades of diplomatic protocol and risk angering China. Mr. Trump told reporters on Wednesday (May 20
Dileep Raj dies after cardiac arrest: Experts warn why relying completely on smartwatches for diagnosis is not safeKannada actor Dileep Raj’s death on May 13 has sparked concerns about over-reliance on wearable health devices. Published on: May 21
Mother documents how strangers in France reacted to her fancy Indian looks: 'I am your Devdas, you are my Paro'Pavitra Kaur's video shows her outfits and the enthusiastic reactions of strangers in France – compliments range from movie references to heartfelt exchanges. Published on: May 21
Parents’ wholesome reaction to son's Google job announcement wins hearts. WatchThe video resonated with many social media users, who flooded the comments section with congratulatory messages and emotional reactions. Updated on: May 21, 2026 4:47 PM IST By Bhavya Sukheja Share via Copy link A
SpaceX files for stock market debut that could make Elon Musk a trillionaire
Elon Musk's SpaceX has revealed its plans to go public in the US, allowing people to trade shares in the firm on the stock market.
SpaceX makes rockets, offers a satellite internet service called Starlink, and also owns Musk's controversial artificial intelligence (AI) firm xAI.
The initial public offering (IPO) on the US stock market is set to be the largest in Wall Street history and could start next month under the ticker symbol SPCX.
Because of the shares he will own in SpaceX, the IPO could make billionaire Musk, who is already the world's richest person, a trillionaire.
SpaceX values itself at $1.25tn, and Musk's majority ownership of the company means his share could be worth more than $600bn.
Last year, Musk, who is also the boss of electric vehicle maker Tesla, became the first person to achieve a net worth that topped $500bn.
This means the SpaceX listing could take his total net worth to over $1tn.
The filing offers a long-anticipated look at the financial state of SpaceX.
Last year, Space Exploration Technologies - as it's officially known - brought in $18.6bn (£13.8bn) in revenue but had a net loss $4.9bn.
In the first three months of this year, it achieved $4.7bn in sales but made a net loss of $4.3bn.
Meanwhile, its balance sheet shows it has $102bn in assets, such as rockets and other equipment, but also carries $60.5bn of debt.
Ruth Foxe-Blader, managing partner at US venture capital firm Citrine Venture Partners, told the BBC "it's not shocking for a project like this to be loss making, even at the point of IPO".
She said the planned flotation had been expected but was "extremely exciting".
SpaceX is just an absolutely sprawling, enormous project with so many different selling points, and so many points that really point to the future.
SpaceX flagged more than half a billion dollars in expected legal costs stemming from a long list of claims.
Some of these come from "multiple lawsuits" alleging that Grok, the chatbot made by xAI, is being used to create sexualized deepfakes of real women and girls.
Musk has said he intends to dissolve xAI and pursue his AI ambitions under SpaceX.
SpaceX also owns X, the social media app previously known as Twitter which Musk purchased in 2022.
Other ongoing cases against SpaceX listed in the IPO include patent infringement claims, claims of noncompliance with EU content moderation, music copyright infringement claims, and data breach claims.
Also revealed in the filing on Wednesday were the financial terms of the deal that SpaceX recently struck with an AI competitor, Anthropic, the developer of Claude.
Anthropic will pay $15bn a year to access data centres in the American South for Musk's xAI which was recently acquired by SpaceX.
While Musk's AI ambitions have struggled amid a spate of controversies, SpaceX's rocket business and Starlink are considered leaders in the industry – both possess a comfortable lead over the competition.
The IPO filing comes just days after Musk lost a high-profile legal battle against rival AI company OpenAI and its boss, Sam Altman.
Musk had accused Altman of breaching a non-profit contract by shifting the ChatGPT-maker to a for-profits after Musk had donated millions of dollars.
The jury voted unanimously to throw out the case, finding that the timeframe to bring his claims expired because Musk had waited too long to file his 2024 lawsuit.
At trial, Musk told jurors that his AI start up xAI was small relative to OpenAI which is also expected to sell shares to the public imminently.
SpaceX's Starship megarocket is set to launch this week but the company has also come under scrutiny for endangering workers at its facilities.
Musk himself has also been criticised for his right-wing politics and alignment with US President Donald Trump, with whom he travelled to China last week.
Sign up for our Tech Decoded newsletter to follow the world's top tech stories and trends. Outside the UK? Sign up here.
Source: BBC
Related Posts: SpaceX files for IPO that could make Elon Musk a trillionaire Elon Musk's net worth hits $600 billion as SpaceX preps for IPO Elon Musk wants SpaceX to go public Elon Musk's mega-merger of SpaceX and xAI bets on sci-fi future of data centers in space Elon Musk Refutes Reports That SpaceX Is Raising USD 800 Billion Elon Musk breaks the $800 billion barrier after SpaceX–xAI mega merger Elon Musk's SpaceX moves to become a publicly traded company SpaceX files for potentially biggest IPO in history Musk's net worth soars past $800 billion after SpaceX‑xAI deal Musk reorganises xAI after SpaceX merger and ahead of IPO
Calcutta HC grants Abhishek Banerjee relief in inciting speech case till July 31The Calcutta high court on Thursday granted protection from coercive police action to Trinamool Congress (TMC) MP Abhishek Banerjee until July 31 in the inciting speech case Published on: May 21
1 minutes ago
The Secrets Revealed in SpaceX’s IPO FilingDocuments related to SpaceX’s initial public offering show the company is unprofitable and CEO Elon Musk controls 85% of the vote. Updated on: May 21, 2026 2:56 PM IST WSJ Share via Copy link SpaceX’s IPO filing sheds light on the finances and
1 minutes ago
Google has launched Gemini Omni, a multimodal AI model focused on cinematic video generation and conversational editing. The platform can create videos using text, images, audio and video prompts with improved realism and context awareness. Google is positioning Omni as its next big push in
1 minutes ago
Bengaluru techie builds ‘I GOT FIRED’ button amid AI layoff fears: ‘One click makes company codebase public’The images showed several labelled buttons, including “Gaslight Them,” “Decode Corporate BS,” and a red-highlighted option reading “I GOT FIRED.” Updated on: May 21
1 minutes ago
A controversial video allegedly filmed near Kedarnath Temple has gone viral on social media, triggering outrage among devotees and netizens over the behaviour of some pilgrims during the sacred Char Dham Yatra. The viral clip shows a group of men sitting and relaxing inside a tented accommodation
2 minutes ago
What your Dog’s birthdate says about their personality, according to a tarot expertJust like humans carry energetic blueprints, animals also have unique vibrations. In tarot, every birthdate can be connected to a Major Arcana energy. Read on. Updated on: May 21
1 minutes ago
Veteran actor Rakesh Bedi recently had a fun encounter with popular Punjabi singer Sukhbir in Goa. Taking to his social media account, Rakesh Bedi shared his surprise meet with the legendary Punjabi singer on his social media account, and reflected on their fun camaraderie
1 minutes ago
Textbooks for students have been printed in time for the reopening of schools in Kerala on June 1, Director of General Education N.S.K. Umesh said. Mr. Umesh was responding to fresh reports of delays in printing and binding of textbooks in Thiruvananthapuram on Tuesday (May 19, 2026)
2 minutes ago
The recently amended National Anti-Doping Act is set to be modified again to criminalise the trafficking and distribution of prohibited substances to athletes, with suppliers facing jail terms of up to five years. The proposed changes also target medical practitioners who knowingly prescribe banned
2 minutes ago
Editorial independence is core to our work. Some links may earn us a commission, without influencing our opinions.Building a smarter home? Start with these reliable smart door locks with fingerprint, Wi-Fi, and camera featuresStill carrying spare keys or checking your door twice before leaving?
2 minutes ago
The World Cup expands with more teams and games. This raises questions about quality and player fatigue. FIFA believes this growth makes the sport global. New teams debut, offering dream opportunities. Concerns exist about player health and the value of scarcity
2 minutes ago
The Longest Internet Blackout in History Is Crippling Iran’s EconomyThe government’s shutdown has been in place for nearly three months, threatening millions of jobs. Published on: May 21, 2026 5:05 PM IST WSJ Share via Copy link Iranians are enduring the longest and most intense internet
1 minutes ago
Indian Grandmaster R Praggnanandhaa was held to a draw by Romanian Deac Bogdan-Daniel, while France’s Alireza Firouzja decided to finally call it quits in the sixth round of the Super Chess Classic, part of the Grand Chess Tour. Firouzja, who played two games despite an ankle injury
2 minutes ago
Pelé was 17 when Brazil found their World Cup soul; 12 years later they owned The Jules Rimet trophy foreverAs the 2026 World Cup approaches, memories of Pelé's impact on Brazil's football loom large. His stunning debut in 1958 to securing Jules Rimet Trophy in 1970. Updated on: May 21
2 minutes ago
Thomas Tuchel has already started contacting the England hopefuls who have not made the cut. It's the call any player dreads - because even in today's club-centric landscape, representing your country at a World Cup remains the pinnacle. Tuchel's squad will be made public on Friday
1 minutes ago
Luxury today looks very different from what it did a decade ago. For millennials and Gen Z, aspirational living is no longer centred around accumulation or ownership. Instead, it is increasingly shaped by experiences that feel immersive, emotionally rewarding and culturally meaningful
1 minutes ago
Indian cricket legend Virat Kohli has brought the spotlight on a deeply personal psychological experience that affects millions: imposter syndrome. In a candid revelation at a summit in Bengaluru, the RCB star admitted, “You constantly feel like you’re never good enough – that imposter
2 minutes ago
Hindustan Unilever said it has permitted partial work-from-home arrangements and accelerated electric vehicle adoption as part of broader efforts aligned with Prime Minister Narendra Modi’s call for austerity and fuel conservation, NDTV Profit learnt exclusively
1 minutes ago
Mumbaikars are set to get a peek into the world of TV show FriendsThe FRIENDS Experience, an immersive museum dedicated to the 1990s sitcom, is debuting in Mumbai on June 12-13 Published on: May 21, 2026 4:39 PM IST By HT Correspondent Share via Copy link Fans of the hit 1990s sitcom Friends in
2 minutes ago
Indian rupee recovered 61 paise on Thursday to open at 96.25 against the US dollar. On Wednesday, the rupee fell to a record low at 96.95, before recovering slightly to settle at 96.86 by the day’s end. In a major structural intervention to stabilise domestic financial markets
2 minutes ago
As India swelters under an intense heat, the India Meteorological Department (IMD) has issued repeated warnings of heat wave to severe heat wave conditions across large parts of northwest, central, and eastern India. Temperatures have soared above 45°C in several regions, with Delhi, Rajasthan
3 minutes ago
Are you feeling lonely? Know what prolonged isolation does to your brain and bodyAlways spacing out or feeling disconnected, even in a room full of people? Find out the ramifications loneliness can have on your health. Updated on: May 21, 2026 2:10 PM IST By Adrija Dey Share via Copy link The
2 hours ago
Who is Abhijeet Dipke, the Boston-educated founder of Cockroach Janata Party?Abhijeet Dipke is a 30-year-old Indian political communication strategist and founder of the Cockroach Janata Party. Updated on: May 21, 2026 12:26 PM IST By Sanya Jain Share via Copy link There’s a new political outfit
2 hours ago
Chip giant Nvidia on Wednesday (May 20, 2026) posted record quarterly revenue of $81.6 billion, blowing past Wall Street forecasts as insatiable demand for its artificial intelligence hardware powered another blockbuster quarter. The results for the first quarter of fiscal 2027, ending April 26
2 hours ago
Manifesting a BMW at 26 to buying it: Bengaluru techie's viral video captures parents' pure joyThe Bengaluru techie posted a video which captures what his parents thought about him buying a BMW. Updated on: May 21, 2026 12:16 PM IST By Trisha Sengupta Share via Copy link A heartwarming video of a
2 hours ago
“Mexican authorities arrested the municipal president of Atlatlahucan and five other political figures in an investigation into corruption and organised crime in central Morelos state,” special prosecutor Ulises Lara said in a video message late on Wednesday
2 hours ago
U.S. President Donald Trump is expected to sign an executive order on Artificial Intelligence (AI) and cybersecurity as soon as Thursday (May 21, 2026), two sources familiar with the matter told Reuters, as pressure grows from parts of his political base to increase oversight of new AI models
2 hours ago
