SpaceX’s first three attempts to land Falcon 9 on a droneship all ended in failure Today, SpaceX sends a booster to space → brings it back through the atmosphere → lands it on a moving ship in the ocean → flies it again And somehow we've gotten used to it so much we barely even react anymore it went from blowing up rockets on droneships to making orbital-class rocket landings look completely normal Absolutely insane engineering progress

SpaceX has officially completed its acquisition of Cursor The merger became effective on August 14, making Cursor a wholly owned subsidiary of SpaceX The deal values Cursor at roughly $60 billion Cursor is now officially part of SpaceX

SpaceX is increasingly positioning AI as an important part of its future. But I don’t think the real question is whether SpaceX is becoming an AI company. The more important question is whether SpaceX can connect AI computing, Starlink, and Starship into one vertically integrated infrastructure business. The strategy can be viewed like this: AI revenue → Ground-based AI computing → Starlink connectivity → Starship launches → Orbital AI infrastructure → AI and robotics for the Moon and Mars SpaceX already has two key pieces of this system. Starlink can provide the communications layer between users, satellites, and future orbital computing infrastructure. Starship could provide the transportation layer needed to move large amounts of computing hardware, solar arrays, networking equipment, and thermal systems into orbit. AI could become the demand layer that connects both. However, AI revenue is not the same as AI profit. Large-scale AI infrastructure requires massive investment in GPUs, power, cooling, networking, construction, maintenance, and talent. So the important metrics are not just revenue, but also utilization, margins, capital expenditure, free cash flow, and payback periods. The same applies to SpaceX’s roughly 10GW-per-year orbital computing scenario. 10GW shows scale, but it does not directly tell us AI performance, revenue, or profitability. Orbital computing also creates major engineering challenges, including heat rejection, radiation, maintenance, debris, communications capacity, and hardware replacement. That is why Starship economics matter so much. The key metrics are actual cost per kilogram to orbit, launch frequency, reuse turnaround time, maintenance cost, and reliability. For me, the most important sequence to watch is: AI profitability → Ground computing utilization → Starship launch economics → Orbital AI demonstrations The real question is not whether SpaceX is a rocket company or an AI company. It is whether SpaceX can turn the transportation and connectivity advantages created by Starship and Starlink into profitable AI infrastructure. If it can, SpaceX may become much more than a launch company. It could evolve into a vertically integrated infrastructure platform spanning Earth and space. #SpaceX# #ElonMusk# #Starship# #Starlink# #ArtificialIntelligence#

SpaceX is going to start looking crazy cheap if you believe what management is saying. $SPCX today is still ~$1.9T market cap / ~$1.8T enterprise value. On the last twelve months of sales (~$23B), that’s roughly ~80x for EV/Sales. On today’s numbers… it is expensive, ofc. But these multiples will start compressive drastically if what Elon said on the earnings call becomes true. 1/ $100B ARR by December 2026 “It’s not a question mark… that’s what we would achieve if we basically did nothing.” - Elon Musk Hold today’s EV fixed and put $100B in the denominator: The multiple of ~80x becomes → ~18x EV/ARR 2/ $1T revenue by 2030 This was the surprise imo. The long-term internal target was moved up… it was 2031 before and Elon even mentioned that there’s a non-zero chance of getting there in 2029. The multiple of ~80x becomes → ~1.8x EV/Sales Either Elon and the SpaceX management is wrong about $100B ARR + $1T revenue, or the market is still pricing SpaceX like the denominator will never shows up. If you believe this will become true, which I do, this company is dirt cheap today.

SpaceX told investors from its Bastrop, Texas facility that it's on pace for $100B in annual revenue by December, and Musk called that the base case if the company does nothing else. A week later Norway's Government Pension Fund Global, the world's largest sovereign wealth fund, quietly revealed it's already in, holding a $1.2B stake as of June. The smart money isn't waiting to see if the bet pays off.

SpaceX is getting very close to building the first serious base on the Moon Starship changes the entire equation It is designed to deliver up to 100 tonnes directly to the lunar surface - enough to transport habitats, rovers, power systems, construction equipment and everything needed to begin building a permanent outpost Then the other pieces come together Tesla Optimus robots could eventually unload cargo, assemble structures, move equipment and perform dangerous construction work before large human crews arrive Building a base mostly with humans is a serious limitation Humans need life support, pressurized habitats, spacesuits, oxygen, food and protection just to survive and work on the lunar surface But with Tesla Optimus, that equation changes entirely Tesla’s experience with solar energy, batteries, autonomous vehicles and large-scale manufacturing can support the power and transportation systems required on the Moon SpaceX provides transportation Tesla provides energy, autonomy and robotics Starship provides the scale Suddenly building a serious base on the Moon becomes dramatically easier And once that infrastructure is ready, humans can stay for much longer periods and eventually even routine private lunar missions and tourism become possible Once the first permanent lunar outpost is established, its usefulness will compound rapidly.....supporting science, resource development, communications and deeper missions into space The Moon could become humanity’s first true outpost beyond Earth

SpaceX is taking Starship offshore. The company is backing offshore platforms for Starship launches and catches potentially enabling higher launch cadence, safer debris zones, and more flexible trajectories. Starship operations could be getting a whole lot bigger.