Category: Technology News

  • Pope calls for robust regulation of AI in manifesto that ponders the future of humanity


    VATICAN CITY (AP) — Pope Leo XIV called Monday for robust regulation of artificial intelligence and for its developers to work for the common good rather than profit, issuing a sweeping manifesto on safeguarding humankind as the technology impacts everything from work to war.

    “Magnifica Humanitas” (Magnificent Humanity), Leo’s first encyclical, has been eagerly awaited ever since history’s first U.S.-born pope announced days after his election that he considered AI to be the biggest challenge facing humanity today.

    In the text, Leo denounced the “culture of power” driving the AI race, especially in developing ever more sophisticated methods of remote warfare. He declared that it was “not permissible” to entrust irreversible, lethal decisions to AI systems, setting up another flash point between the American pope and the Trump administration, which has worked aggressively to deregulate AI development.

    “Artificial Intelligence now demands to be disarmed, freed from logics that turn it into an instrument of domination, exclusion and death,″ the pope told a special Vatican presentation of the encyclical, one of the most authoritative types of teaching documents a pope can issue.

    Experts in the tech industry, academia and Catholic morality said the document will likely become a benchmark in the debate over AI, a point of reference for policymakers, researchers and ordinary folk alike. It comes as the near-daily developments in the technology trigger concerns over AI replacing human jobs and even human intelligence.

    Taylor Black, a Microsoft AI executive and director of Catholic University of America’s AI institute, said the document would prompt people “at the forefront of these tools” to ask questions such as “What does it mean to be human?”

    Pope calls out AI companies even as he hosts Anthropic

    The Vatican launch also included remarks by the co-founder of Anthropic, which is currently locked in a legal battle with the Trump administration over access to its AI technology. The Vatican decided to involve Anthropic as part of its decade-long effort to engage Silicon Valley in dialogue over the human cost of AI.

    And yet in his text, Leo repeatedly blasted the concentration of power and data in the hands of so few people in the private sector as a danger, especially to children and the most vulnerable, and called for external regulation of their work.

    “It is not enough to invoke ethics in the abstract; robust legal frameworks, independent oversight, informed users and a political system that does not abdicate its responsibility are required,” he wrote. “A more moral AI is not enough if that morality is determined by a few.”

    Leo appealed to AI developers and political leaders responsible for regulating them to slow down and reflect on what they are doing. He urged them to use ethical and spiritual guidelines to make the choice to work not for their own profit or power, but the betterment of humanity.

    AI competitors OpenAI and Anthropic are the second- and third-most valuable U.S. private companies, each valued at hundreds of billions of dollars, more than the GDP of many nations. Both companies are heading toward near-trillion dollar IPOs.

    Anthropic co-founder Christopher Olah welcomed Leo’s criticism and concern. He said such external checks were fundamental to the technology “going well” for humankind since there is so much at stake — “a real possibility that AI will displace human labor at a very large scale.”

    “We need more of the world — religious communities, civil society, scholars, governments — to do what His Holiness has done here: to take this seriously, to look closely, and to push events in a better direction,” Olah said. “We need moral voices that the incentives cannot bend.”

    Experts say the text will become a benchmark

    In a methodical text, the math major pope traced the history of the Catholic Church’s social teaching and applied its core concepts — justice, solidarity, the dignity of work and the universal destination of resources — to the digital revolution.

    “I am convinced that this will prove to be a defining document for our era, a profound and prophetic document,” said Paolo Carozza, law professor at Notre Dame Law School and chair of the Meta Oversight Board.

    “Pope Leo is offering a clear, comprehensive, and coherent voice urging us to take responsibility for constructing a world in which technology will serve humans rather than degrade them,” he said.

    In its strongest chapters, Leo denounced how AI had helped accelerate the “normalization of war” by desensitizing people to its cost. He didn’t name specific conflicts, but cited “opposing imperialisms, between powers that wish to preserve their supremacy, and those that aspire to seize that supremacy.”

    He demanded transparency and accountability by AI developers so that the chain of decision-making command in ordering strikes with AI weaponry is always known. He declared that the Catholic Church’s “just war” theory, which provides specific criteria for when force can be justified, was now “outdated” given the technological advances of warfare.

    A text in the church’s social justice tradition

    Leo signed the text May 15, the 135th anniversary of the publication of “Rerum Novarum” (Of New Things), the most important teaching document of Leo’s hero and namesake, Pope Leo XIII. That document addressed workers’ rights, the limits of capitalism, and the obligations that states and employers owed workers as the Industrial Revolution was underway.

    It became the foundation of modern Catholic social thought, and the current pope cited it at the start of his pontificate in relation to the AI revolution, which he believes poses the same existential questions that the Industrial Revolution posed over a century ago. “Magnifica Humanitas” thus becomes the latest chapter in a century-long history of popes adapting “Rerum Novarum” to the social questions of their times, often dwelling on the dignity of work for human flourishing.

    AI is evoking both existential fears and utopian vision amid an intensifying debate on whether it will become a catalyst that enriches humanity or a technological toxin that dulls human intelligence while wiping out millions of high-paying jobs.

    “The pursuit of greater profits cannot justify choices that systematically sacrifice jobs, because the human person is an end, not a means, and the economic order must remain subordinate to human dignity and the common good,” Leo wrote.

    Leo extended his concern for upholding human dignity in labor to issue the first-ever papal apology for the Holy See’s own role in legitimizing slavery by giving European sovereigns explicit authority to subjugate and enslave “infidels.”

    A decade-long dialogue with Silicon Valley

    Vatican officials declined to say who contributed to Leo’s encyclical. But Vatican and church officials have been engaged in a dialogue with Silicon Valley tech firms for a decade.

    The decision to include Anthropic at the Vatican launch was criticized by some who considered it a papal stamp of approval of the AI firm, which is currently suing the Trump administration after it ordered all U.S. agencies to stop using Anthropic’s technology for its refusal to allow the U.S. military unrestricted use of it.

    Brian Boyd, U.S. faith liaison for the nonprofit Future of Life Institute, read the inclusion of Anthropic’s co-founder Olah as a recognition of its prominence in the field and as similar to a papal audience with a head of state: not an endorsement.

    Anthropic is an “enormous corporation that is taking onto itself an enormous risk and responsibility,” Boyd said, adding that the company has “demonstrated genuine goodwill and integrity and interest in dialogue.”

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    Winfield reported from Middletown, Connecticut, and Huamani reported from Los Angeles. Associated Press writers Kelvin Chan in London and Colleen Barry in Milan contributed to this report.

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    Associated Press religion coverage receives support through the AP’s collaboration with The Conversation US, with funding from Lilly Endowment Inc. The AP is solely responsible for this content.


  • SpaceX tries to launch a bigger version of Starship but hits a series of last-minute problems


    CAPE CANAVERAL, Fla. (AP) — SpaceX got within a half-minute of launching its newest and biggest Starship on a test flight Thursday evening before a cascade of problems halted the countdown.

    The 407-foot (124-meter) rocket was poised to begin a space-skimming journey from Texas extending halfway around the world. But issues cropped up with the brand-new pad at Starbase near the Mexican border, and the company ran out of time.

    SpaceX CEO Elon Musk later said the hydraulic pin holding the launch tower’s arm in place did not retract. If the problem can be fixed quickly, another launch attempt will be made Friday, he noted.

    Thursday’s launch attempt came one day after Musk announced that his rocket company would be going public.

    Starship holds 20 mock Starlink satellites to be released before the spacecraft’s controlled entry into the Indian Ocean at the end of the hourlong flight. It will be the 12th test flight for a Starship and the first since last fall.

    NASA is relying on this latest version of Starship to land astronauts on the moon in a few years.

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    The Associated Press Health and Science Department receives support from the Howard Hughes Medical Institute’s Department of Science Education and the Robert Wood Johnson Foundation. The AP is solely responsible for all content.


  • Canadian regulator triples US streamers’ financial contributions to Canadian content


    OTTAWA, Ontario (AP) — Large online streaming services must contribute 15% of their Canadian revenues to Canadian content, the country’s federal broadcast regulator said Thursday.

    That figure is three times the 5% initial contribution requirement the Canadian Radio-Television and Telecommunications Commission, CRTC, set out in 2024, which is being challenged in court by U.S.-based major streamers, including Apple, Amazon and Spotify.

    The CRTC made the decision as part of its implementation of the Online Streaming Act, which the U.S. has identified as a trade irritant ahead of trade negotiations with Canada.

    Contribution requirements for traditional broadcasters in Canada, which currently pay between 30% and 45%, will be lowered to 25%.

    “The total contributions are expected to stabilize the funding at more than $2 billion in support of Canadian and Indigenous content, such as French-language content and news,” the regulator said in a press release.

    The CRTC also set out rules on how the money must be spent for both streamers and broadcasters, including contributions toward production funds and direct spending on Canadian content.

    Most of the streamers’ financial contribution can go toward content, though the CRTC is imposing rules on how that money must be spent for the largest streamers.

    For instance, streamers with Canadian revenues of more than $100 million Canadian ($73 million) annually must direct 30% of spending toward partnerships with Canadian broadcasters and independent producers.

    The new financial contribution rules apply to streamers and broadcasters with at least $25 million Canadian ($18 million) in annual Canadian broadcasting revenues.

    The CRTC is also establishing a new fund to support specific TV channels, including CPAC, the Canadian service that provides direct coverage of political events.


  • Meta settles social media addiction case brought by rural Kentucky school district


    Social media companies including Meta have settled the first of many lawsuits brought by hundreds of school districts seeking compensation for costs they say they incurred dealing with harms to children’s mental health from social media addiction.

    The lawsuit brought by a small, rural Kentucky school district was set to go to trial next month in federal court in Oakland, California. The judge and the parties selected it as a bellwether case — essentially a test for both sides to see how their arguments play out before a jury — out of 1,200 similar cases. The settlement only applies to the Breathitt County School District.

    Meta reached a settlement with the district Thursday, following settlements earlier this week with the other defendants in the case — TikTok, Snap and Google’s YouTube.

    The financial terms of the settlements were not disclosed. The school district had sought more than $60 million to create a 15-year program it said would help counteract mental health and learning issues caused by social media.

    The plaintiffs’ attorneys said in a statement that their “focus remains on pursuing justice for the remaining 1,200 school districts who have filed cases.”

    The settlement follows court losses earlier this year for Meta and YouTube in social media harms lawsuits in California and New Mexico.

    In March, Meta and YouTube were found liable for designing addictive features following a trial in Los Angeles. The plaintiff, known by her initials KGM, claimed she became addicted to social media as a child and that it exacerbated her mental health struggles. A jury sided with her and awarded about $6 million in damages.

    And in New Mexico, a jury determined that Meta harms children’s mental health and safety, in violation of state law.


  • Trump calls off AI executive order over concern it could weaken US tech edge


    WASHINGTON (AP) — President Donald Trump called off plans to sign a new executive order on artificial intelligence hours before an expected White House ceremony Thursday because he said he was worried the measure could dull America’s edge on AI technology.

    Trump said he was postponing the Oval Office event with tech industry executives because he did not like what he saw in the order’s text. “We’re leading China, we’re leading everybody, and I don’t want to do anything that’s going to get in the way of that lead,” Trump told reporters.

    The order would have established a framework for the government to vet the national security risks of the most advanced AI systems before their public release, according to a person familiar with the White House’s deliberations with the tech industry but not authorized to speak about them publicly. The directive was being characterized as a voluntary collaboration with participating U.S.-based tech companies, including Anthropic, OpenAI and Google, the person said.

    The push for some kind of government action to review leading AI systems follows growing concern within the banking industry and other institutions about the leaps in AI’s abilities to find cybersecurity vulnerabilities in the world’s software.

    Treasury Secretary Scott Bessent and outgoing Federal Reserve Chair Jerome Powell convened an urgent meeting with Wall Street CEOs in April, warning them about the cybersecurity risks posed by Anthropic’s AI model, Claude Mythos.

    The meeting, urgently assembled at the Treasury Department’s headquarters, was intended to ensure that banks were aware of the risks associated with the models, Bessent said at CNBC’s “Invest in America Forum” in Washington in April. “This new Anthropic model is very powerful,” he said. “Some banks are doing a better job in cybersecurity than others, and we want to have the ability to convene them and talk about what is best practices and where they should be heading.”

    That led some allies of the Republican president to propose better methods for getting those AI tools in the hands of trusted cybersecurity experts.

    Trump’s hopes for AI have run up against voters’ fears of its impact

    Trump had pledged to undo the AI safety regulations set by his predecessor, Democratic President Joe Biden. Trump’s administration has viewed the AI sector as an engine to help deliver on his pledges to expand the economy and he has promoted its major players at events at the White House and around the world. Last week, Trump had tech CEOs in tow for a summit with China’s Xi Jinping.

    Trump’s ambitions for the sector have collided with the fears of voters over the impact of the technology on American life, jobs and electricity bills. Republicans themselves are divided over whether to embrace the AI industry or side with voters who express skepticism about the technology.

    Also complicating the government’s interest in working with Anthropic on cybersecurity is the government’s ongoing legal fight with the company. Trump in February ordered all U.S. agencies to stop using Anthropic’s chatbot Claude after an unusually public clash between the Pentagon and CEO Dario Amodei.

    There are competing factions within the administration, said Serena Booth, a computer science professor at Brown University and former AI policy fellow in a Democratic-led Senate committee.

    “We do see this kind of public fighting,” she said. ”‘We will release an executive order. No, we won’t. We’re going to sign it this afternoon. Oh, the signing is canceled.’ I think this whiplash is because we’re seeing these fractures.’”

    Some of those divides are balancing what Booth said is a “reasonable idea” to test the most capable AI models before their public release, with a concern that government scrutiny, if it takes too long, could burden AI developers.

    “It does come at a potential very large cost to innovation and speed of development,” she said. “There is, I think, a real risk here and I do see both sides.”

    The White House has pushed back against state laws seeking to regulate AI, saying the measures could curb growth. A new executive order that could have been perceived as government screening of commercial AI models would have signaled a significant shift in the administration’s approach.

    At the same time, similar screening is already happening. Trump’s Commerce Department announced earlier this month that it signed agreements with Google, Microsoft and Elon Musk’s xAI to evaluate their most powerful AI models before their public release, building on previous agreements the Biden administration made with Anthropic and OpenAI. But the announcement later disappeared from the Commerce Department website.

    White House describes a balance between safety and innovation

    At a White House press briefing Tuesday, Vice President JD Vance declined to discuss specifics from the order but said the administration wants to promote innovation while also addressing cybersecurity threats and data privacy.

    “The president wants us to be pro-innovation. He wants us to win the AI race against all other countries in the world,” he said. Vance added, “We also want to make sure that we’re protecting people.”

    Asked about new models that could pose security risks, Vance said the administration is taking a collaborative approach with tech companies.

    “It also does have some downsides,” he said, “and we’re trying to balance that safety against innovation.”

    A former White House tech policy adviser who was a lead author of Trump’s AI policy road map said the disagreements likely represent “healthy tension” in an administration that has long been wary of regulating the “frontier AI” companies like Anthropic, OpenAI and Google.

    “They don’t want to do it because it’s politically risky in a million different ways,” said Dean Ball, now at the Foundation for American Innovation. Ball said he would welcome an executive order that would get those companies working more closely with the government on cybersecurity but “ultimately, I’m fine with them taking time to get this right.”

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    O’Brien reported from Providence, R.I. Associated Press writer Fatima Hussein contributed to this report.


  • Two men charged with creating AI-generated porn under new law targeting ‘deepfakes’


    NEW YORK (AP) — Federal prosecutors have charged two men with using artificial intelligence to create nude videos and photos of female celebrities under a newly enacted law meant to halt the spread of deepfake pornography.

    Cornelius Shannon, 51, and Arturo Hernandez, 20, were both arrested Tuesday for generating sexually explicit AI content that drew millions of views online, according to criminal complaints.

    The men — who do not appear to be connected — are among the earliest defendants to face charges under the Take It Down Act, a law signed last year by President Donald Trump that adds stricter penalties for publishing AI-created deepfakes and “revenge porn.” The bill drew bipartisan support, as well as the public backing of first lady Melania Trump.

    Under the new law, the men now face up to two years in prison.

    Attorneys for Shannon and Hernandez did not immediately respond to a request for comment.

    In a statement, Joseph Nocella, the U.S. attorney in Brooklyn, said the men had ”used cutting-edge digital technology to create images that degraded and violated” dozens of women. “This case makes clear that posting deepfake pornography is not a victimless crime,” he added.

    Shannon, a resident of New Jersey, published at least 240 albums of AI-generated pornography featuring female politicians, musicians and singers, according to the complaint.

    The deepfakes published by Hernandez, of Texas, included both celebrities as well as private women, including recent high school graduates, prosecutors said.

    The arrests come as increasingly sophisticated generative AI tools have raised alarm about the online spread of sexually explicit fakes, often depicting minors.

    Last month, an Ohio man became the first person convicted under the Take It Down Act after pleading guilty to using AI to generate child sexual abuse material.

    In March, two teenage boys received probation for creating explicit AI images of their classmates at an exclusive private school in Pennsylvania.

    And in a separate case filed earlier this year, three teenagers in Tennessee sued Elon Musk’s xAI, claiming the company’s Grok tools morphed their real photos into explicitly sexual images.

    The high school students are seeking class-action status to represent what the lawsuit says are thousands of people who were similarly victimized as minors.


  • Trump calls off plan to sign artificial intelligence order due to concern it could hurt the industry


    WASHINGTON (AP) — President Donald Trump called off plans to sign a new executive order on artificial intelligence hours before an expected White House ceremony Thursday because he said he was worried the measure could dull America’s edge on AI technology.

    Trump said he was postponing the Oval Office event with tech industry executives because he did not like what he saw in the order’s text. “We’re leading China, we’re leading everybody, and I don’t want to do anything that’s going to get in the way of that lead,” Trump told reporters.

    The push for some kind of government action to vet the most powerful AI systems follows growing concern within the banking industry and other institutions about the leaps in AI’s abilities to find cybersecurity vulnerabilities in the world’s software.

    Treasury Secretary Scott Bessent and outgoing Federal Reserve Chair Jerome Powell convened an urgent meeting with Wall Street CEOs in April, warning them about the cybersecurity risks posed by Anthropic’s AI model, Claude Mythos.

    The meeting, urgently assembled at the Treasury Department’s headquarters, was intended to ensure that banks were aware of the risks associated with the models, Bessent said at CNBC’s “Invest in America Forum” in Washington in April. “This new Anthropic model is very powerful,” he said. “Some banks are doing a better job in cybersecurity than others, and we want to have the ability to convene them and talk about what is best practices and where they should be heading.”

    That led some allies of the Republican president to propose better methods for getting those AI tools in the hands of trusted cybersecurity experts.

    Trump had pledged to undo the AI safety regulations set by his predecessor, Democratic President Joe Biden. Trump’s administration has viewed the AI sector as an engine to help deliver on his pledges to expand the economy and he has promoted its major players at events at the White House and around the world. Last week, Trump had tech CEOs in tow for a summit with China’s Xi Jinping.

    Trump’s ambitions for the sector have collided with the fears of voters over the impact of the technology on American life, jobs and electricity bills. Republicans themselves are divided on whether to embrace the AI industry or side with voters expressing skepticism about the technology.

    There are competing factions within the administration, said Serena Booth, a computer science professor at Brown University and former AI policy fellow in a Democratic-led Senate committee.

    “We do see this kind of public fighting,” she said. ”‘We will release an executive order. No, we won’t. We’re going to sign it this afternoon. Oh, the signing is canceled.’ I think this whiplash is because we’re seeing these fractures.’”

    Some of those divides are balancing what Booth said is a “reasonable idea” to test the most capable AI models before their public release, with a concern that government scrutiny, if it takes too long, could burden AI developers.

    “It does come at a potential very large cost to innovation and speed of development,” she said. “There is, I think, a real risk here and I do see both sides.”

    The White House has pushed back against state laws seeking to regulate AI, saying the measures could curb growth. A new executive order that could have been perceived as government screening of commercial AI models would have signaled a significant shift in the administration’s approach.

    At a White House press briefing Tuesday, Vice President JD Vance declined to discuss specifics from the order but said the administration wants to promote innovation while also addressing cybersecurity threats and data privacy.

    “The president wants us to be pro-innovation. He wants us to win the AI race against all other countries in the world,” he said. Vance added, “We also want to make sure that we’re protecting people.”

    Asked about new models that could pose security risks, Vance said the administration is taking a collaborative approach with tech companies.

    “It also does have some downsides,” he said, “and we’re trying to balance that safety against innovation.”

    —-

    O’Brien reported from Providence, R.I. Associated Press writer Fatima Hussein contributed to this report.


  • Trump says he’s postponing signing an executive order on AI out of concern it would hurt AI industry


    WASHINGTON (AP) — President Donald Trump called off a Thursday signing ceremony for a new order on artificial intelligence because he worried it could dull America’s edge on AI technology.

    Trump said he was postponing the signing because he didn’t like what he saw in the order’s text. He announced the change hours before the event was scheduled to take place in the Oval Office.

    “We’re leading China, we’re leading everybody, and I don’t want to do anything that’s going to get in the way of that lead,” Trump told reporters at an unrelated Oval Office event.


  • Malaysia orders TikTok to explain ‘grossly offensive’ fake content targeting king


    KUALA LUMPUR, Malaysia (AP) — Malaysia said Thursday it has ordered TikTok to explain and address what it described as the social media platform’s failure to act swiftly against offensive, defamatory and fake content targeting the royal institution.

    The Communications and Multimedia Commission said the move followed the circulation of “grossly offensive, false, menacing and insulting” content, including AI-generated videos and manipulated images linked to an account falsely claiming association with king Sultan Ibrahim Iskandar.

    Such matters fall within the sensitive issues of race, religion and royalty “which are highly sensitive and may undermine public order, national harmony and respect for constitutional institutions,” the regulator said in a statement.

    Despite prior notifications and engagements, it said TikTok’s moderation response especially in ensuring the prompt removal of such content and preventing further dissemination was unsatisfactory.

    It said TikTok — which has not publicly commented on the case — has been issued a legal notice that requires it to explain its moderation failures and undertake immediate remedial measures, including strengthening its content moderation mechanisms and improving enforcement against content that violates Malaysian laws and community standards.

    The commission said social media platforms operating in Malaysia are expected to exercise greater responsibility in preventing unlawful and harmful activities on their services.

    It warned it would continue to take “firm and proportionate action” to ensure digital platforms comply with their responsibilities in maintaining a safe and respectful online environment.

    The move comes amid Malaysia’ s broader push to tighten oversight of digital platforms, with authorities in recent years stepping up enforcement against social media companies over harmful content, scams, online gambling and material deemed offensive or threatening to public order.

    TikTok did not respond to a request by The Associated Press for comment.


  • SpaceX reveals plans for what could be the biggest-ever initial public offering


    NEW YORK (AP) — Elon Musk announced plans Wednesday for one of the biggest stock sales ever by taking public a space company that is currently losing billions of dollars a year.

    A filing shows that his SpaceX lost $2.6 billion from operations last year on $18.7 billion in revenue, and the losses kept piling up at the start of this year, too.

    The prospectus did not put a dollar figure on the amount Musk hopes to raise, but various reports have put it at $75 billion or so. An offering of that size would easily surpass the current title holder, Saudi Aramco, the oil giant that went public seven years ago and raised $26 billion.

    SpaceX, formally known as Space Exploration Technologies Corp., has said the money will help finance projects to put people on the moon and Mars in its quest to make humans an intergalactic species as they face existential threats that could wipe out civilization.

    “We do not want humans to have the same fate as dinosaurs,” the filing states.

    The prospectus reads in part like a Hollywood fantasy version of the future, detailing in one section how part of Musk’s compensation will be granted only if he maintains “a permanent human colony on Mars with at least one million inhabitants.”

    Short of that, the stock sale alone could make Musk, a major owner who founded SpaceX in 2002, the world’s first trillionaire. Forbes currently puts his net worth at $839 billion.

    In addition to making reusable rockets to hurl astronauts into orbit, SpaceX has other businesses, some successful, some struggling — and with plenty of questions marks.

    The document shows that Starlink, the world’s largest satellite communications company, is a big source of cash for the company, generating $4.4 billion in operating income last year. The business uses 10,000 satellites in low orbit to provide internet service to 10 million people in 150 countries and territories.

    Among the struggling businesses are two Musk units that were recently acquired by SpaceX — his social media platform X, formerly Twitter, and his artificial intelligence business, xAI. Those purchases were blasted by some SpaceX investors as bailouts because they are big money losers.

    The prospectus said its AI business lost $6.4 billion in operations last year.

    The original SpaceX business, making rockets and staging launches, has been helped by massive government contracts, which raises questions that could come back to haunt the company. Given Musk’s close relation to the Trump administration, government ethics lawyers and watchdogs have asked if he has gotten special treatment to win taxpayer money and whether that good luck will run out once President Donald Trump is out office.

    SpaceX has won contracts worth $6 billion from NASA and the Defense Department and other government agencies in the past five years, according to USAspending.gov. The company noted in its filing that a fifth of its revenue last year was from the federal government.

    Musk was the biggest donor to Trump’s presidential campaign and is still a big backer despite their sometimes rocky relationship after his stewardship of the government cost-cutting effort called DOGE early last year.

    Like many corporate CEOs, Musk’s compensation will go far beyond his annual salary, which was $54,080 in 2025 and has remained unchanged since 2019, according to the filing.

    The prospectus says stock grants for him would be sliced into 15 nearly equal amounts — 67 million shares each — and would vest only as the company achieves preset market cap goals. In addition to the Martian colony, SpaceX’s stock market value would have to reach $7.5 trillion for him to receive the full award.

    He would get even more stock awards if SpaceX manages to get giant data centers the size of football fields in space.

    The document shows Musk will be able to exert big control over the business.

    It says he and certain other shareholders will receive shares in a special class of stock that gives them 10 votes for each share they hold. Those shareholders will be able, among other things, to elect a majority of the company’s board of directors.

    “This will limit or preclude your ability to influence corporate matters and the election of our directors,” SpaceX said in a warning to prospective investors.

    SpaceX will be able to pitch the offering to investors — in what’s known in Wall Street parlance as a “road show” — 15 days after making its prospectus public. In this case, that works out to June 4.

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    Associated Press writer Alex Veiga in Los Angeles contributed.