this post was submitted on 06 Jun 2026
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S&P 500 rejects SpaceX, also blocking entry for OpenAI and Anthropic (arstechnica.com)
submitted 1 day ago by kinther@lemmy.world to c/technology@lemmy.world
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[–] megopie@lemmy.blahaj.zone 20 points 8 hours ago* (last edited 8 hours ago) (2 children)

The data center builders and operators are running behind on basically every data center project, massive amounts of Blackwell are just sitting in warehouses right now because they loose money the moment they’re plugged in. New IT load for the operators isn’t even a third of the capacity of the chips sold to these companies. Most of the companies that got switched over to token billing by the model providers are pulling back and freaking out over a yearly “AI budget” annihilated in a quarter. The model providers wouldn’t have swapped to token based billing for enterprise clients if they didn’t have to. They’ve been pumping demand with hype and by selling at a fraction of operational costs. Reporting non-gap EBITA to hide what a mess the financials are.

The SpaceX S1 alone shows how insanely cash incinerating it all is. Can’t wait to see Anthropic and OpeAIs S1s. It’s gonna be hilarious.

[–] stringere@sh.itjust.works 2 points 3 hours ago* (last edited 3 hours ago)

I'm gonna go look it up now, but for those who follow behind me: can you explain what an S1 is?

Edit to add (emphasis mine):
SEC Form S-1 is the initial registration form for new securities required by the SEC for public companies that are based in the U.S. Any security that meets the criteria must have an S-1 filing before shares can be listed on a national exchange, such as the New York Stock Exchange. Companies typically file SEC Form S-1 when planning their initial public offering (IPO). SEC Form S-1 requires companies to explain the use of capital, outline their business model and competition, and provide a brief prospectus of the security, including pricing and any dilution of other securities.

SEC Form S-1 is also known as the registration statement under the Securities Act of 1933. Additionally, companies must disclose any significant business dealings with directors and outside counsel. Investors can view S-1 filings online to research new offerings before they are issued.

[–] betanumerus@lemmy.ca -4 points 7 hours ago

Interesting. You actually have a real answer and explanation. I mean, that's amazing. My goodness, something actually worth double-checking. 👏