SpaceX’s Money-Losing Rockets Are Biggest Asset in AI Dream

SpaceX revealed eye-popping numbers in its IPO prospectus, including a $26.5 trillion potential market for an empire spanning artificial intelligence and telecommunications.

But another, comparatively low, number also stood out. SpaceX’s launch business only brought in roughly $4.1 billion of revenue last year. And ultimately, it lost money.

It’s a stark reality when considering the fact that launch is what made SpaceX the juggernaut that it is today. With its Falcon family, SpaceX pioneered the commercial viability of reusing rockets in a way similar to how airlines use jets, bringing down costs and forcing industry incumbents to rethink their business ...