https://www.sec.gov/Archives/edgar/data/1181412/000162828026036936/spaceexplorationtechnologi.htm
Prodigal son Elon Musk’s SpaceX (now including Tesla and XAI, mos) is looking to list on the Nasdaq at what some people are anticipating to be a $2trn (TRILLION)
valuation. IPO target is a $80bn raise - which will be a capital markets record (by some margin)
BUT… $250bn in depreciation and absolutely no route to profit. Musk retains 85% voting shares. They’ve committed to a crazy launch schedule for the coming years. 1,200 mentions of AI. Starlink made $1bn profit in Q1, but AI lost $2.5bn in the same period - looking to grow (because building datacentres is EXPENSIVE).
With the Africa satellite connectivity market looking like it will float away, no wonder they are so hard up to get into SA before Amazon LEO launches its service.
There’s also a fair bit of bitcoin propping up the balance sheet.
I honestly have no idea what reality even is anymore.