TLDR Tech / AI
xAI is looking more like a datacentre REIT than a frontier lab
xAI's new partnerships with Anthropic and Google provide these rivals with a huge amount of capacity, with the revenue flowing back to SpaceX, which is about to go public. Both agreements have cancellation clauses that allow either party to cancel with 90 days' notice after an initial lock-in period, but this is still a ludicrously profitable deal for xAI on face value. If the deals continue for 18 months, xAI would recoup all of the capex it spent, and it still has many hundreds of MW of GPUs available.
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