58/ Cash and funding Money raised: ~$140B in cash from 2023 through H1'26 (preferred stock + convertible notes + SAFEs, per the S-1 cash flow statements). $110B of that came in H1'26 alone, including the $65.2B Series H. Cash left at 6/30/26: $112.4B cash & equivalents + $19.3B short-term investments = ~$132B (plus $2.5B restricted cash). Additional capacity: $15B undrawn revolver (expanded Sep'26), and up to $77B of partner note facilities (Google $20B, Amazon $15B tied to compute milestones, Broadcom $42B only to pay lease rent). IPO proceeds come on top. How that compares (cash & liquid investments at 6/30/26, gross, before debt): Alphabet: $242B Anthropic: $132B Amazon: $123B Meta: $90B Microsoft: $77B Tencent: ~$75B (RMB511B) Alibaba: ~$70B (RMB475B) Anthropic is holding more cash than Amazon, Meta or Microsoft. But SpaceXAI alone runs ~$37B a year from Dec'26, against ~$780-810B of total compute commitments.