ER SHARES FOUNDER JOEL SHULMAN SAYS SPACEX COULD BE WORTH NORTH OF $1T Our partners at ERShares see SpaceX $SPCX as a three-engine empire with one massive upside option: - SpaceX dominates space exploration, with 90% of all satellites in space and launch costs down from $54,000 per kilogram to $2,000 - Starlink is the cash cow, growing from zero to 10M customers while competing against legacy telecom systems - Joel Shulman says SpaceX could be worth $1.25T to $1.5T from those two pieces alone, before the upside of data centres in the sky

$CRWV ER and read through for $NBIS and other Neoclouds: “We have 10x as much qualified demand as available capacity”. - interest in 2028 capacity already amounts to several times what CoreWeave has available - CoreWeave raised prices by 25% in July, +10% later in Q3, and more to come in Q4 - Ampere and Hopper rental pricing rose 30–50% quarter over quarter (older GPUs) - better financing conditions (higher prepayments, lower interest 7–7.5% for new loans) - positive adjusted net income in the first half of 2028. So we’re seeing higher pricing esp. for older GPUs…better financing mechanics, and extreme demand imbalance where you have 10x demand > supply. Same issues are there for this company in specific with interest rates, but I’d argue other Neoclouds are in a better spot. But it’s wild to witness AI infrastructure names crash while demand keeps growing