General Discussion

It may take awhile for reality to subdue market hype. OTOH, with the felon shoveling billions of our tax dollars at xAI and the host of circular, incestuous deals in the AI ecosystem, it could remain artificially pumped up for quite a while.

The thing is, Starlink is the "cash cow." But with the acquisition of xAI the "company" as a whole is a dog.

And with the entire U.S. economy already an all-in bet on AI, further pumping the bubble up with the obscene xAI over-valuation buried inside SpaceX will just make the fall, when it comes (and it will come) all the more precipitous.

SpaceX Segment Financials (2025)

Overall operating loss $2.60 billion

Connectivity (primarily Starlink)
Operating Income $𝟒.𝟒𝟐 billion

Space (Launches and Nasa)
Operating Loss $0.657 billion.

AI (xAI)
Operating Loss 6.36 billion

Then there is also the fact that a lion's share of the capital they sought to raise (and insanely got) is earmarked to payoff creditors and investors. In other words, the primary purpose of the IPO was not to raise capital to invest in growth, it was to raise money to pay off money already spent to get to the losing place that company is at right now.