SpaceX IPO filing shows billions in AI losses, a $2 trillion valuation target, and turbine spending that signals more data center conflicts ahead

In three linesSpaceX IPO filing reveals xAI losses of $6.36 billion in 2025, a $15 billion/year Anthropic compute deal, and targets a $2 trillion valuation. Musk retains 85.1% voting power through dual-class shares.

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