SpaceX set a $1.77 trillion valuation target for its IPO, while also looking to widen its offering beyond space launches.

The Elon Musk-led company would raise $75 billion and boost its valuation 40% should it meet its goals, as well as set a new record for the largest public offering ever.

SpaceX is making bold bets: It won a tax exemption on a giant AI chip plant in Texas, which would make it a major semiconductor maker, and is getting ready to test new reentry vehicles that would ease in-orbit manufacturing, as well as filing plans to put up to a million mini data center satellites in space, part of the company’s plan to industrialize Earth’s orbit.