SpaceX’s Epic Fundraising Campaign for AI Has Only Just Begun

When Elon Musk went into sales pitch mode ahead of the SpaceX IPO, the comparison he marshaled to justify valuing the company in the trillions of dollars, and tapping investors for tens of billions, raised a few eyebrows.

“We’re kind of like the Union Pacific,” he said in an interview in an investor presentation ahead of the initial public offering, citing one of his frequent touchstones — a historic infrastructure project in the 1800s intended to connect western states by rail for the first time. “People thought they were crazy” when they built it, he said, “but now California is ...