The answer is simple: They're willing to burn money faster than the others.

Nobody's profitable in this space, they can price it however they want as long as investors keep pouring money in. And SpaceX just got a lot of money poured in.

My strat until the bubble pops is to just use the most subsidized model with acceptable performance

He owns the DCs and isn’t scrambling for revenue to justify an upcoming IPO

Demand so much lower they had to resell capacity.

Because the model is probably smaller. Go look at openrouter’s costs for other open models around this performance level, they’re similar.

Elon owns a lot of compute