SpaceX targets a $75 billion IPO at $135 a share, implying a $1.75 trillion valuation as investors weigh bold AI plans, widening losses and governance risks.

SpaceX on Friday signed a blockbuster cloud computing agreement under which Google will pay the Elon Musk-founded rocket company $920 million per month for access to a massive cluster of AI chips, according to a disclosure in its initial public offering filing.

Bitcoin declines to $64,000 after Strategy trims BTC holdings.

Elon Musk's rocket company kicked off its investor roadshow on Thursday with a major party at JPMorgan's New York HQ.

SpaceX is seeking to raise $75 billion in an initial public offering that would be the biggest of all time, as Elon Musk’s rocket, satellite and artificial intelligence company targets a historic debut that could clear a path for more mega-listings.

SpaceX set its IPO price at $135, putting the company on track for a record listing and a valuation near $1.77 trillion.

SpaceX's IPO business brings both prestige and lucrative fees to the banks. Both Goldman Sachs and Morgan Stanley updated their lobbies to celebrate.

SpaceX set out its IPO pitch to retail investors early on Thursday with a video in which Chief Financial Officer Bret Johnsen joins the dots between the company’s rocket, satellite and AI businesses.

Its IPO was priced at $185, with shares opening to the public on May 14 at $350. Shares fell 20% by the next day, which isn't surprising given the momentum trap associated with IPO investing.