Elon Musk becomes world's first trillionaire as SpaceX soars in stock market debut

The biggest focus of its business is the manufacture and launch of rockets with reusable parts.SpaceX also manufactures and launches Starlink internet satellites, and through this year's acquisition of xAI, another company Musk owned and operated, SpaceX entered into the AI business, too.SpaceX has said it will use the money to "fuel its growth strategy" around rockets, satellites for its growing Starlink internet service, and AI, including speculative plans to build data centres in orbit.Nancy Tengler, who heads Laffer Tengler Investments and put in an order to buy shares of SpaceX, called the company's AI business a "cash incinerator" despite Musk's ambitions for the segment."It's important to take some of the projections with a grain of salt," Tengler said.Nevertheless, she is buying into the company for its long-term potential."Our investment horizon is three, five, and even ten years," Tengler said.She is also expecting SpaceX to merge with Tesla in the next two years, potentially creating a company worth more than either one on its own.