How come? On the books or they're actually selling internet cheaper than they source it?
> xAI is a money burning furnace
So far in the AI business, it looks like only Anthropic might be profitable in the near future. On the other hand, a lot of nonprofitable companies have IPOd for billions with the hopes that one day they will become profitable.
My bad, the satellite business is profitable. It's the space rocket division that operate at a loss, which they state clearly in their IPO filing.
> xAI is a money burning furnace
Even Mistral is earning more revenue than xAI and the french seem well on the way of having a sustainable business who becomes a key player in Europe.
But I might be biased, my information is mostly based on: https://www.youtube.com/watch?v=IHD8BDFYyGI
- You can't blindly trust the US, or US businesses. Even less when it comes to critical infrastructure.
- You can't rely on underwater cables to be safe.
Starlink is a proven technology. They were the first major mover. But they will not be the last.
It'll be sort of like Tesla cars. For a long time they completely dominated the EV market, but now others are catching up. Yet Tesla is valued more than all other EV manufacturers combined. Some of this is of course from their vertical integration, but most of it is just hopium.
Same will happen with both Starlink, SpaceX, and other products under the Musk umbrella.