SpaceX took the wraps off its IPO filing on Wednesday, laying bare for investors just how much Elon Musk is losing on artificial intelligence while betting the company’s future on transforming the rocket maker into an ​AI powerhouse.

Much of its outlook relies on SpaceX dominating technologies and markets that do not yet exist – from Mars missions to AI data centres in space.

For many, Musk’s record-turning Tesla into the most ‌valuable auto company in the world and developing the world’s first fully reusable rocket and largest satellite network is enough to justify investment.