At 24 years old, SpaceX is already one of the largest & most *capital-efficient* companies ever built: SpaceX: ~$12B raised → $1.25T Val (target $1.75T IPO) OpenAI: ~$170B raised → $840B Val (target $1T IPO) SpaceX Financial Profile (Over 1 Year): 2025: $350B → 2026: $1.25T Valuation March 2025: $350B val, SpaceX had raised only ~$10B over 23 years, remarkably modest for its scale & valuation, +was already cash flow positive FY 2025: Generated about $8 billion in profit on $15-$16B of revenue, driven primarily by @Starlink's satellite internet service, which accounts for between 50% - 80% of total revenue (Reuters) February 2, 2026: $1.25T valuation, all-stock acquisition of xAI. Deal valued standalone SpaceX at ~$1 trillion & xAI at $250 billion. Widely reported as the largest M&A transaction in history. March 2026: @elonmusk announces SpaceXAI + Tesla TERAFAB Project, goal to reach a trillion watts of compute/year 2026: Targeting ~$1.75 trillion IPO Note: @xai (now part of @SpaceX) has reportedly raised ~$42B total (PitchBook). Combined, that’s ~$54B total capital against a ~$1.25T valuation. Figures based on recent public reporting; estimates may vary. Christian Garrett (@CGarrett_15) of @137ventures