Welcome to the Tech Brew Ride Home for Thursday, April 2nd, 2026. I'm Brian McCullough today.

SpaceX is officially kicking off the year of the biggest IPOs ever.

More job cuts and more signs AI is the cause of them in one way or another.

Microsoft makes its first public moves to divorce itself from OpenAI when it

comes to AI models, and a billion-dollar company with only two employees, you guessed it,

AI is Y. Here's what you miss today in the world of tech.

SpaceX has reportedly filed confidentially for an IPO, putting it on track for a June listing,

and it could seek around a $1.75 trillion valuation, and would reportedly raise if they did that around $75 billion,

quoting Bloomberg. The filing puts it on track for a June listing, which would make SpaceX the first of what could be a trio of mega IPOs ahead of OpenAI and Anthropic.

SpaceX could seek evaluation in the IPO of more than $1.75 trillion. People familiar with the matter have said.

The company acquired Elon Musk's artificial intelligence startup XAI in a deal that

valued the enlarged entity at $1.25 trillion. In a confidential filing, companies can receive feedback from

the regulators and make changes before the information becomes public. Details of the offering,

including the number of shares to be sold and the price range are expected to be

disclosed in a later filing. A listing for SpaceX would raise as much as $75 billion,

Bloomberg News has reported. At that size, it would dwarf the current record holder Saudi Aramco's

$29 billion debut in 2019. SpaceX is telling prospective IPO investors to expect briefings from company executives this

month, people familiar with the matter have said. The so-called testing the waters investor meetings

would potentially include more detail that would support its valuation target. The company has

lined up Bank of America, Citigroup, Goldman Sachs, JP Morgan, and Morgan Stanley for senior roles on the IPO.

People familiar with the matter have said and has added more banks to the lineup.

SpaceX is also working with international banks who are looking after taking IPO orders in specific regions with Citigroup coordinating their roles.

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