SpaceX’s valuation has fallen from $3T to $1.4T—its first earnings report is almost here! In the AI business, it lost $2.5B in a single quarter, then poured $7.7B into infrastructure... the rate it’s burning cash is even more intense than its rockets. Starlink has 10.3M users, which is reassuring, but can AI plug this hole? 20% of the internal shares will be unlocked soon—selling pressure is right ahead. Friends, is this earnings report a surprise or a scare?