SpaceX Bets Its IPO on Unproven Starship Dreams

SpaceX's planned IPO hinges entirely on Starship's success, yet the company has failed to demonstrate the technological maturity required for its core promises—from launching heavier satellites to operating orbital data centers. Additionally, xAI represents 93% of SpaceX's claimed addressable market but operationally depends on competitors like Anthropic, raising serious questions about whether the IPO prioritizes insider wealth extraction over genuine operational achievements.