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Musk, Money and Mars
The New York Times • • science
Key Points:
- SpaceX's stock has dropped nearly 50% since its record-breaking IPO two months ago, following an earnings report where Elon Musk made ambitious claims about future projects and revenue.
- Musk predicted SpaceX would start launching A.I. data centers into space next year and reach $1 trillion in revenue by 2030, statements met with skepticism by some investors.
- Despite SpaceX's promising rocket launch business and Starlink satellite internet service, the company remains unprofitable and its current revenue does not support its trillion-dollar valuation.
- Financial analysts note that SpaceX's stock price is not grounded in traditional profit or revenue metrics, making it difficult to assess the company's true business value.
