Analyst: SpaceX sprints for IPO, AI business raises biggest doubts Odaily Planet Daily reported that analyst Robert Cyran said that Musk's SpaceX is preparing to enter the public market with a valuation of $1.75 trillion, but its prospectus is deeply mired in the "black hole" of artificial intelligence talk, with a considerable portion of the problems coming from xAI. XAI has brought extremely huge capital expenditure requirements, burning $7.7 billion in the first three months of this year, more than three times the same period last year, accounting for more than three-quarters of SpaceX's total investment. The operating loss of $2.5 billion in the first quarter is enough to drag the entire company into losses. In addition, SpaceX has reached an agreement with Anthropic, which is leasing idle computing power from Musk's Colossus data center for approximately $1.3 billion per month. Considering that xAI's revenue in the past 12 months was only slightly over $3 billion, the main business of this department has actually become renting out idle servers. The real problem is that SpaceX's core AI business has not made significant progress, and Grok lags behind its competitors in various benchmark tests, with a year-on-year revenue growth of less than 13% in the first quarter. At the same time, Anthropic expects its quarterly growth rate to reach five times that of the former. In a sense, SpaceX is indeed a 'rocket spacecraft'. But from a financial perspective, it is still difficult to achieve "escape velocity". (Golden Ten)