The Information's TITV SpaceX's $5B Loss, OpenAI Stargate Shakeup, and Is OpenAI “Too Big to Fail?”
25 snips
Apr 10, 2026 
Rocket Drew, an AI and robotics reporter, profiles Boris Cherney and Claude Code. Cory Weinberg, finance reporter, unpacks SpaceX’s consolidated finances and losses tied to xAI. Jason Dean, San Francisco bureau chief, and Martin Peers, co-executive editor, spar over OpenAI’s leadership and market position. Anissa Gardizy, cloud and compute reporter, reveals Stargate departures and the fierce fight for data-center talent.
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IPO Becomes Strategic For Sustaining Growth
- OpenAI may need capital access via IPO to sustain massive cash burn and to compete with Anthropic.
- Sam Altman reportedly prioritizes IPO timing to prevent rivals from capturing investor attention and to secure more funding.
SpaceX Reported Nearly $5B Loss After Adding xAI
- SpaceX consolidated financials show heavy capex exceeding revenue and an almost $5B GAAP loss after adding xAI.
- Starlink produced strong adjusted EBITDA while xAI ran a $1B–$1.5B adjusted EBITDA loss, driving the consolidated deficit.
Starlink Underpins SpaceX Profitability
- Starlink is the profitability engine, launch is marginally profitable, and xAI is the loss center inside SpaceX.
- Starlink generated over $7B adjusted EBITDA, launches nearly $1B, while xAI lost about $1B–$1.5B.