#Scottish Mortgage Investment Trust

SpaceX S-1 Filing: Starlink Made $4.4B. AI Lost $6.4B. The IPO Targets $1.75T.

SpaceX lost $4.94B in 2025 as AI capex hit $12.7B, its S-1 filing revealed. Starlink's $4.4B operating profit funded a $6.4B AI division loss. The $1.75 trillion IPO opens what could be the largest listing year in history.