This is a leading indicator for what is to come after the IPOs of SpaceX, OpenAI and Anthropic this year.
and it is not good.
spacex is particular is desperately searching for a bagholder. Leveraging the obvious synergies between rockets (a mediocre business), xai (a horrid business), and social media that lost more than half it's already modest revenues...
With any luck they've missed their exit dumping window.