SpaceX IPO valuation slashed to 1.8 trillion, is Musk's move pragmatic or lacking confidence?

BlockBeats reports that SpaceX is seeking a valuation of at least $1.8 trillion in its IPO, below the rumored $2 trillion. The issuance scale and valuation will be adjusted based on feedback from the roadshow, which is scheduled for June 4, with pricing on June 11; the timeline may be delayed. In 2025, revenue is projected at $18.7 billion, with a loss of $4.94 billion. In February, SpaceX announced the acquisition of xAI, with SpaceX's total valuation around $1 trillion and xAI approximately $250 billion.