SpaceX confidentially files to go public at $1.75tn, reports say

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SpaceX has confidentially filed for an initial public offering on the US stock market, according to reports from Bloomberg and the Wall Street Journal.The IPO is set to be one of the most closely watched and highly valued listings in market history.Elon Musk’s company, which has become a dominant power in both space travel and satellite communications, could potentially seek a valuation upwards of $1.75tn.The confidential filing will give regulators a period to review and discuss the company’s financial disclosures before investors and the public are able to view them.

The IPO could take place as early as June, Bloomberg reported, in what is expected to be a banner year for high-value public offerings,Musk’s rival OpenAI is also planning to go public later this year at an immense valuation, announcing on Tuesday that it had closed a funding round of $122bn, in addition to fellow AI firm Anthropic preparing its own IPO,SpaceX is the parent company of Musk’s own artificial intelligence company, xAI,SpaceX did not immediately respond to a request for comment,Musk, already the world’s richest man, stands to grow his fortune even more from the IPO and get closer to becoming the world’s sole trillionaire.

A successful public offering would be a major victory for the tech mogul after a volatile year that included overseeing Doge’s gutting of the federal government, widespread protests against Tesla and investigations into his Grok chatbot mass-producing non-consensual sexualized images of women and children.Over the past decade SpaceX has grown to become the most valuable enterprise in Musk’s sprawling tech empire.It has signed extensive, lucrative contracts with the US government for defense and space travel.The US space program is heavily dependent on the company, with Nasa utilizing SpaceX rockets for the majority of its launches.In addition to its rockets, SpaceX has grown to be a big satellite communications power through its subsidiary Starlink, which ranks among the largest operators of satellites on the planet.

The satellite internet service is estimated to bring in over half of SpaceX’s revenue and has also increased Musk’s geopolitical influence, with foreign actors such as the Ukrainian military relying on Starlink for combat operations and planning.As it eyed an IPO, SpaceX also acquired Musk’s xAI in February – citing plans to build solar-powered datacenters in space that could help meet the computer and energy demands of the AI boom.The artificial intelligence firm, which owns the social media platform X and makes the Grok chatbot, has lagged behind the capabilities of rivals such as Anthropic’s Claude or OpenAI’s ChatGPT but was nevertheless valued at $250bn in the acquisition.SpaceX has shifted its focus in recent months more toward orbital datacenters and assisting with Nasa’s forthcoming moon landing missions, while Musk’s long-vowed plans to build a civilization on Mars are no longer as prominent a talking point.Details of SpaceX’s finances, long a tightly held secret even to most investors, are likely to be revealed closer to the IPO.

The cost of shares and other information on the listing will also become public after the Securities and Exchange Commission reviews the filing.The company is working with a number of prominent international banks, including Barclays plc in the UK, to coordinate on orders for the IPO, according to Bloomberg.
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Put away the Aperol and raise a glass to Hugo spritz, the drink of the summer

Pub gardens and bar terraces have been awash with a sea of orange in recent years as Italy’s love of Aperol spritz spread to the UK. But this year the cocktail’s cousin, a Hugo spritz, will be the drink of the summer, according to supermarkets and bars.It is already being served across the country, including at Sea Containers on the banks of the Thames and Mayfair’s swanky Claridge’s hotel in London, 20 Stories bar in Manchester and the Bridge Tavern in Newcastle. Wetherspoons has the cocktail on its menu nationwide.“In the past year, we have noted that there has been a wider shift among our guests towards drinks with lower alcohol percentages, particularly during the day – a Hugo spritz fits rather neatly into this space,” said George Raju, director of bars at Claridge’s

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Helen Goh’s recipe for ricotta, rum and raisin cake | The sweet spot

This is a cake for the long, ambling tail-end of an Easter lunch. It’s gently scented with orange and vanilla, lightened by ricotta, and studded with rum-soaked raisins that bring bursts of sweetness to each slice. Ideally, they’d be soaked overnight to plump them into something luscious, but if time gets away from you, take a shortcut: put the raisins and rum in a microwave-safe bowl, zap for 20–30 seconds, then leave to cool and absorb. The chocolate glaze is optional; on days when you want something simpler (or lighter), a generous sifting of icing sugar is all this cake needs. Serve with a small glass of grappa or something similarly warming for a quietly perfect way to bring a feast to a close

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Cocoa-crazy: chocolate-infused liqueurs deserve their own moment

Among my minor childhood traumas was the time my dad returned from a business trip to Belgium with a smart box of assorted chocolates (cue tiny violins). Expecting caramel, I bit into a truffle and was met by an explosion of very boozy liqueur. The box seemed to be an exciting change from the usual duty-free Toblerone, but after this incident, truffle assortments have always struck me as deeply unsafe. (I have tried liqueur-filled chocolates since, but still remain flummoxed by them.)The Guardian’s journalism is independent

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Baked cheesy smoked haddock and lemon icebox pudding: Henry Harris’ alternative Easter lunch

Sometimes all you want is a hot, bubbling dish and a spoon, and for me today’s cheesy haddock is that dish – a 15-minute supper to be enjoyed in front of the telly with a salad or a large bowl of hot buttered peas. Add a lemony, biscuity iced dessert, and you have a light, very easy and enjoyable supper that’s almost the perfect close to a long Easter weekend.Choose your smoked haddock carefully: you want large, thick fillets of undyed fish. Stating the obvious, here, but a good fishmonger will have this; a supermarket never. The creme fraiche must be a French, naturally soured cream, too, becausethe cheaper English versions coagulate when heat is applied, resulting in an unpleasant, watery gunk

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Rachel Roddy’s Easter cannelloni with spinach, peas, ricotta and mozzarella – recipe

Fresh sheets smelling of fresh air or fabric softener (or both) with hospital corners are one of life’s great pleasures. As are fresh sheets of egg pasta – the sort that comes in squat boxes protected by clingfilm and found in the fridge section alongside ravioli. They are also one of the most useful and certainly the most multi-talented of all the pasta shapes.That they are labelled lasagne is limiting; of course, they can be lasagne, but they could just as easily be numerous other shapes. The most easy-going of which is maltagliati, meaning badly cut, which tells you everything you need to know about the approach required as you cut them (using a knife, pizza wheel or pair of scissors) into uneven bits that are ideal in all sorts of soups, but especially those with beans

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As Australian food prices rise, ‘robust’ cauliflower and cabbage are April’s best value fruit and veg

As roast and soup season starts, it is “a good time for brassicas”, says Graham Gee, senior buyer at the Happy Apple in Melbourne – “cauliflower and broccoli”. “You get a good supply of cabbage, kale, silverbeet and leeks too. All the robust veggies.”While they might not be ultra cheap, he says “a whole cauliflower can go a long way. You can feed a lot of people with them