{"id":641,"date":"2026-05-28T22:37:32","date_gmt":"2026-05-28T22:37:32","guid":{"rendered":"https:\/\/nextaddressamerica.com\/?p=641"},"modified":"2026-05-28T22:37:32","modified_gmt":"2026-05-28T22:37:32","slug":"trumps-biggest-donor-scrambles-to-justify-insane-stock-market-debut","status":"publish","type":"post","link":"https:\/\/nextaddressamerica.com\/?p=641","title":{"rendered":"Trump’s biggest donor scrambles to justify ‘insane’ stock market debut"},"content":{"rendered":"
\n

In the run-up to SpaceX\u2019s public offering next month, company head Elon Musk is making unusual business decisions that some say may be part of a frantic attempt to justify the IPO\u2019s \u201cinsane\u201d $2 trillion valuation. According to reporting by the tech publication Gizmodo<\/u>, Musk appears to be preparing to shuffle a high-profile brand in and out of Starlink\u2019s orbit as part of a wider effort to generate hype around his business. <\/p>\n

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The story dates back to May, when Musk announced he was teaming up with the AI company Anthropic \u2014 which he had previously called \u201cevil<\/u>\u201d \u2014 saying he was leasing it the available computing power at SpaceX\u2019s Colossus data center. At the time, it was suggested that the deal was part of a cash grab before the IPO, but now, Musk is suddenly implying that he may end the contract after 3 months rather than the 3 years it originally stipulated. <\/p>\n

\u201cSpaceX has not committed to leasing Colossus for years, although it\u2019s possible that may be what happens,\u201d said Musk on X, the social media platform he owns. \u201cThis is a 180 day lease with 90 day notice mutual cancellation thereafter.\u201d <\/p>\n

As Gizmodo notes, \u201cThat\u2019s a mighty quick turnaround, given that Anthropic seemingly needs to scale up to meet its growing demand, while Musk is in dire need of revenue on his books as SpaceX heads toward an initial public offering. According to Musk, \u2018The short term was our request, not Anthropic\u2019s,\u2019 which is interesting. Maybe he wants to treat the agreement as a proof of concept to show investors that renting the massive amount of compute that his company has built is a viable business model\u2026Or maybe it\u2019s an effort to generate hype and give people the impression SpaceX is going to need those chips back for some major in-house AI initiative.\u201d<\/p>\n

Musk himself implied as much, saying, \u201cIf compute gets super tight I said we might need it back at some point.\u201d<\/p>\n

But his claims are confusing in the context of the deal. As Gizmodo explains, \u201cMusk\u2019s accounting of the deal between SpaceX and Anthropic doesn\u2019t quite match up with the way that it\u2019s described in SpaceX\u2019s S-1 filing with the Securities and Exchange Commission. According to that document, Anthropic \u2018has agreed to pay us $1.25 billion per month through May 2029, with capacity ramping in May and June 2026 at a reduced fee.\u2019 The document does reflect the mutual 90-day termination clause. The text simply seems to suggest the deal is locked in for three years. \u201c<\/p>\n

This isn\u2019t the only example of someone questioning the books on the SpaceX IPO. On Tuesday, prominent financial and tech analyst Ed Elson posted to X, \u201cI read all 277 pages of SpaceX’s IPO filing so you don’t have to. Losses up 700 percent. Revenue decelerating. 107x price-to-sales multiple. It’s a trainwreck.\u201d <\/p>\n

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Much of the \u201cunserious, empty, hallucinatory, and borderline dishonest\u201d filing, said Elson, bordered on outright fantasy. <\/p>\n

\u201cAfter eighteen images of rockets in space, we learn that the company\u2019s mission is \u2018to extend the light of consciousness to the stars,\u2019\u201d Elson detailed. \u201cTo accomplish this, the company plans to advance humanity \u2018to Kardashev Type II status,\u2019 which is defined in the document as \u2018a civilization that harnesses the full energy output of its local star.\u2019 Only a few pages in and it\u2019s already starting to feel like an ayahuasca trip.\u201d <\/p>\n

\u201cOnce you arrive at the financials,\u201d he said, \u201cyou start to realize what the language is overcompensating for: awful numbers\u2026 I\u2019ll put it simply: slowing revenue + skyrocketing expenses = not good.\u201d<\/p>\n

Other experts<\/u> have warned that the SpaceX IPO appears to be structured to favor Musk \u201cat the expense of other shareholders,\u201d and leading stock analysts<\/u> forecast the offering will likely result in “volatile” performance and \u201cnegative returns.\u201d<\/p>\n

Musk donated at least $288 million to elect President Donald Trump, and has faced accusations that his appointment as a \u201cspecial government employee\u201d at the head of DOGE allowed him to act with conflicts of interest<\/u>, promoting SpaceX\u2019s government contracts and diminishing those of competitors. <\/p>\n

Musk stepped down from his role at DOGE in May last year and has since been primarily focused on his various business entities. Now, according to Gizmodo, SpaceX \u201chas seemingly been acting in a whirlwind fashion to secure as many agreements as it possibly can ahead of going public, likely in an effort to show that it can justify what is expected to be the largest initial public offering<\/u> in history.\u201d<\/p>\n

Read more Trump dodges rules in rush to douse DC horse statues with gold<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

In the run-up to SpaceX\u2019s public offering next month, company head Elon Musk is making unusual business decisions that some say may be part of a frantic attempt to justify the IPO\u2019s \u201cinsane\u201d $2 trillion valuation. According to reporting by the tech publication Gizmodo, Musk appears to be preparing t…<\/p>\n","protected":false},"author":1,"featured_media":640,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-641","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nTrump's biggest donor scrambles to justify 'insane' stock market debut - Next Address America<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nextaddressamerica.com\/?p=641\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trump's biggest donor scrambles to justify 'insane' stock market debut - Next Address America\" \/>\n<meta property=\"og:description\" content=\"In the run-up to SpaceX\u2019s public offering next month, company head Elon Musk is making unusual business decisions that some say may be part of a frantic attempt to justify the IPO\u2019s \u201cinsane\u201d $2 trillion valuation. 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