SpaceX is effectively the best neocloud right now... SpaceX insists on short term leases only, so as long as compute keeps getting scarcer and the compute shortage curve keeps sloping up and to the right, SpaceX can keep raising prices. On top of that, SpaceX has the best infrastructure buildout capability in the industry and its own compute demand, so it can absorb excess demand at any time. That is why it commands a premium of 2x, and as much as 3x, over competitors like IREN. ($60 billion per GW) To track Nvidia's revenue, SpaceX is now the company to watch most closely. Until SpaceX ASICs come out of Terafab in 2030, it will devour more Nvidia chips, and more ravenously, than anyone else in the world. Wouldn't SpaceX easily absorb the slowdown in Nvidia chip demand caused by Google and other hyperscalers developing their own ASICs?