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Is this a concession of defeat to spaceX
Probably not in AI itself but SpaceX has starlink which I believe is actually profitable
Until Canadian and European network satellites launch next month. They are launching with SpaceX, but killing Starlink. Robbing Peter to pay Paul.
But the market has never been about reality, that’s why it periodically crashes, with bigger and bigger crashes.
I am waiting to see how and when anthropic IPOs, because I think that is l the more important comparison. OpenAI is caught between a rock and a hard place, because they want to go public for exit liquidity, but anthropic will always be a direct comparison. And if the financials aren’t in their favor, then they won’t get the valuation they desire as the second best.