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SpaceX AI IPO Risk
Description
SpaceX is positioning itself as an AI-focused company ahead of a potential IPO, with its AI division accounting for 61% of $20.74B in 2025 capital spending while posting a $6.4B operating loss. Starlink doubled operating income to $4.42B, helping cover space division losses. Capital spending exceeded revenue by ~$2B last year, raising concerns about future funding if AI monetization doesn't keep pace.
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