SpaceX’s $1.75 trillion IPO pitch relies on a lot of AI faith

# SpaceX's Trillion-Dollar Bet on AI That Doesn't Exist Yet SpaceX is asking investors for roughly $75-80 billion by claiming its satellite business will become hugely valuable to AI companies, even though it currently makes almost no money from AI. The company's actual profitable business—Starlink internet—is solid, but SpaceX is gambling that future AI demand will justify a valuation nearly 100 times higher than its current earnings, which is a risky bet on technology that may never materialize as promised.