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Starlink is a virtual, blockchain-based metaverse where users can explore, play, trade, and socialize with other players.
AI space technology company Muon Space completes $250 million Series C funding round, with participation from Google and others
Odaily News: AI space technology company Muon Space announced the completion of a $250 million Series C funding round, led by Eclipse Capital, with participation from Google, Salesforce Ventures, Galvanize, Wellington Management, I Squared Capital, Woven Capital, as well as Radical Ventures and Congruent Ventures. The new funds will be used to accelerate large-scale satellite constellation production, expand dual-use spacecraft platforms, enhance on-orbit AI computing capabilities, and provide real-time ultra-high-bandwidth satellite connectivity in partnership with SpaceX Starlink.
Wealthy family offices increase bets on SpaceX, with positions reaching $3.8 billion as they back Musk's space and AI empire
Odaily News According to reports from the Americas, Europe, and the Middle East, family offices of ultra-high-net-worth investors are significantly increasing their investments in SpaceX, with total exposure reaching approximately $3.8 billion. This shows that private wealth institutions are competing for investment opportunities in the rocket, satellite, and artificial intelligence company founded by Elon Musk.According to data compiled by Bloomberg based on regulatory filings (13F), as of the end of June, the family office of Nick Pritzker, heir to the Hyatt hotel fortune, held a SpaceX investment position valued at approximately $1.8 billion.The report states that as SpaceX gains market attention following its initial public offering (IPO), more and more family offices are positioning themselves in the company through private market investment channels. Since SpaceX remains a high-valuation, scarce private technology asset, its equity opportunities have long been sought after by institutional investors and ultra-wealthy individuals.Investors value not only SpaceX's leading position in the commercial aerospace sector, but also its Starlink satellite internet business and its future potential in artificial intelligence infrastructure. As the AI wave prompts global capital to reassess the value of computing power, communications, and space infrastructure, SpaceX is gradually becoming an important investment target connecting the aerospace, satellite communications, and AI industries.However, due to the limited liquidity of SpaceX's private equity transactions and their high valuations, the large-scale bets by family offices also mean that investors are taking on higher long-term valuation and exit risks. (Bloomberg)
Legendary fund manager Ron Baron boldly predicts: SpaceX could reach a valuation of $4 trillion in the next 10 to 15 years
Odaily News - Baron Capital founder and legendary investor Ron Baron recently made an aggressive prediction about SpaceX's future growth prospects, suggesting that the space company founded by Elon Musk could reach a valuation of $4 trillion within the next 10 to 15 years.Baron has long been bullish on SpaceX, previously stating that the company could achieve a valuation growth of $10 trillion to $30 trillion over the next 10 to 15 years, and has said SpaceX has the opportunity to become one of the largest companies in the world. Baron's optimism is primarily driven by SpaceX's Starlink satellite internet business, reusable rocket technology, and the future space infrastructure market. He believes that as global demand for internet connectivity grows and AI computing needs expand, the space economy could become a new long-term growth frontier. Baron Capital GroupBaron Capital has previously taken a significant position in SpaceX. The firm began investing in SpaceX in 2017 and stated that the investment has generated substantial returns. Baron has previously noted that the SpaceX portfolio has become a major component of his funds, and he expects the company to maintain long-term growth potential even after going public. Baron FundsHowever, market observers point out that SpaceX still faces significant challenges in reaching a multi-trillion-dollar valuation, including the pace of Starlink commercialization, rocket launch costs, the ability to execute new businesses such as space data centers, and execution risks associated with a high valuation. Currently, long-term value expectations surrounding SpaceX are becoming a focal point in capital markets, with supporters arguing that the company is transitioning from a traditional aerospace enterprise into a platform company integrating satellite communications, AI infrastructure, and the space economy. (Thestreet)
Betting on SpaceX Yields High Returns, Canada's Largest Pension Fund's Assets Grow to CAD 303.2 Billion in H1
Odaily News: The Ontario Teachers' Pension Plan (OTPP) announced that its investment return reached 9.5% in the first half of this year, driven primarily by gains from Elon Musk's SpaceX initial public offering (IPO).In a statement, OTPP CEO Jo Taylor attributed the H1 performance growth to venture growth equity, public market equities, and inflation-resistant asset investments. By the end of the first half of the year, the fund's net assets had risen to CAD 303.2 billion (approximately USD 217.5 billion).According to reports, the SpaceX IPO was a key factor driving OTPP's investment returns. As one of the world's largest aerospace companies, SpaceX has rapidly expanded through commercial launches and satellite internet services like Starlink in recent years, attracting long-term capital from pension funds, sovereign wealth funds, and major institutional investors.OTPP is one of the world's largest institutional investors, with long-term investments in private equity, technology companies, and infrastructure assets. The valuation uplift from SpaceX's listing underscores the significant impact that unlisted tech unicorns and high-growth assets have on the returns of major pension funds. (Bloomberg)
Bloomberg: SpaceX stock price has not yet been affected by approximately $100 billion-level stock unlock, steadily absorbing selling pressure
According to Bloomberg reports, SpaceX stock performed relatively steadily on Thursday following the expiration of the lock-up period (lock-up agreement) restricting insiders from selling shares, involving the unlocking of up to approximately 911.5 million shares valued at about $100 billion based on current valuation. Trading data shows SpaceX stock price fluctuated within a range of less than 3% during early trading, as the market digests the potential selling pressure brought by this large-scale share release. Trading volume in the first 30 minutes after the opening approached 93 million shares, accounting for about 40% of the total volume of the previous trading day. This unlocking occurred shortly after SpaceX announced its first earnings report. Previously, SpaceX stock price once fell about 14% due to investor concerns that the company's investment scale in artificial intelligence business was higher than expected. However, most Wall Street analysts still maintain a long-term optimistic view on the company. Market focus includes SpaceX's future investment plans in AI, satellite internet, and mobile communication businesses. Despite facing capital expenditure pressure in the short term, analysts believe the company's leading position in rocket launches, Starlink satellite network, and commercial space sectors remains an important factor supporting its long-term valuation. This stock unlocking of about $100 billion has also become an important event for the market to test investor confidence after SpaceX's listing. The lack of significant stock price fluctuations indicates that the market had certain expectations regarding the liquidity release from internal shareholders.
SpaceX undervalued? Early investor says it could become first $10 trillion company
SpaceX early investor and XPRIZE Foundation founder Peter Diamandis stated that SpaceX has the potential to become the world's first company with a market capitalization of $10 trillion.During an interview on CNBC's "Squawk on the Street," Diamandis said that the market has yet to find the right way to value SpaceX, and that the company's space transportation, satellite internet, and future space economy initiatives could generate long-term growth far exceeding that of traditional enterprises.He pointed out that SpaceX's core value comes not only from its reusable rocket business, but also from Starlink satellite internet, future lunar and Mars exploration programs, and the new economic ecosystem being built around space infrastructure.Previously, SpaceX had already become one of the highest-valued private tech companies globally. As the company expands from rocket launches into satellite communications and deep-space exploration, investors are trying to reassess its long-term commercial potential.Diamandis believes that traditional valuation models struggle to measure the value of a platform company like SpaceX, which operates across aerospace, communications, and future infrastructure simultaneously, so the market may be underestimating its future growth potential. (CNBC)
Wealthy family offices increase bets on SpaceX, with positions reaching $3.8 billion as they back Musk's space and AI empire
Odaily News According to reports from the Americas, Europe, and the Middle East, family offices of ultra-high-net-worth investors are significantly increasing their investments in SpaceX, with total exposure reaching approximately $3.8 billion. This shows that private wealth institutions are competing for investment opportunities in the rocket, satellite, and artificial intelligence company founded by Elon Musk.According to data compiled by Bloomberg based on regulatory filings (13F), as of the end of June, the family office of Nick Pritzker, heir to the Hyatt hotel fortune, held a SpaceX investment position valued at approximately $1.8 billion.The report states that as SpaceX gains market attention following its initial public offering (IPO), more and more family offices are positioning themselves in the company through private market investment channels. Since SpaceX remains a high-valuation, scarce private technology asset, its equity opportunities have long been sought after by institutional investors and ultra-wealthy individuals.Investors value not only SpaceX's leading position in the commercial aerospace sector, but also its Starlink satellite internet business and its future potential in artificial intelligence infrastructure. As the AI wave prompts global capital to reassess the value of computing power, communications, and space infrastructure, SpaceX is gradually becoming an important investment target connecting the aerospace, satellite communications, and AI industries.However, due to the limited liquidity of SpaceX's private equity transactions and their high valuations, the large-scale bets by family offices also mean that investors are taking on higher long-term valuation and exit risks. (Bloomberg)
10x Research: Bitcoin's True Investment Thesis May Lie in Space Infrastructure and Decentralized Computing
10x Research released a report stating that the market generally believes Bitcoin's core value lies in hedging against currency debasement, but this is not its true investment thesis. The report argues that the core constraint facing decentralized currency is not monetary policy, but physical conditions, including energy, heat dissipation, and geographical jurisdictional limitations.The report points out that with the development of space infrastructure, the constraints of heat, electricity, and geographical limitations faced by data centers could be alleviated in orbital environments. The connection between SpaceX, Starlink, and Bitcoin may represent a long-term strategic layout centered around future infrastructure construction.10x Research believes that technologies such as satellites, encryption technology, and artificial intelligence can both promote the decentralization of power and potentially reinforce resource concentration. The world is competing around two sets of infrastructure systems.The report also compares Bitcoin with China's digital yuan, suggesting they represent different paths for digital infrastructure. It also notes that as populations gradually move away from traditional network systems, the business models of companies like Palantir may also be affected.
Myanmar Telecom Fraud AI Industrialization Exposed: Starlink Becomes Critical Infrastructure, Crypto Payments and OpenAI/Google Models Integrated into Toolchain
According to Red Star News, an investigation report leaked from Myanmar fraud parks shows that global telecom fraud is accelerating towards an "AI industrialization + cross-border encrypted payment" system. Fraud networks complete fund flows through cryptocurrencies and use large model-based automated tools for multi-language script generation, identity disguise, and emotional manipulation. According to investigation analysis, these systems extensively utilize OpenAI's ChatGPT and Google's Gemini at the functional level to support "scaled social fraud," while on the funding end, rapid laundering and transfer are achieved through on-chain payments and cross-border channels, forming a dual-layer structure of "AI customer acquisition + encrypted settlement," enabling the fraud industry to possess high automation and cross-national diffusion capabilities. Additionally, Musk's Starlink has become the top network service provider for Myanmar fraud parks, with US ISP service providers carrying nearly one-fifth of the park's traffic. Regarding the relevant allegations, OpenAI responded that fraudsters' use of ChatGPT is highly similar to that of ordinary users, making identification difficult, but approximately 100,000 suspicious accounts are banned monthly through behavior pattern recognition and risk control systems. Google stated its AI models have established safety guardrails and emphasized commitment to "responsible AI development" to limit tools from being used for illegal purposes such as fraud.
Bloomberg: SpaceX stock price has not yet been affected by approximately $100 billion-level stock unlock, steadily absorbing selling pressure
According to Bloomberg reports, SpaceX stock performed relatively steadily on Thursday following the expiration of the lock-up period (lock-up agreement) restricting insiders from selling shares, involving the unlocking of up to approximately 911.5 million shares valued at about $100 billion based on current valuation. Trading data shows SpaceX stock price fluctuated within a range of less than 3% during early trading, as the market digests the potential selling pressure brought by this large-scale share release. Trading volume in the first 30 minutes after the opening approached 93 million shares, accounting for about 40% of the total volume of the previous trading day. This unlocking occurred shortly after SpaceX announced its first earnings report. Previously, SpaceX stock price once fell about 14% due to investor concerns that the company's investment scale in artificial intelligence business was higher than expected. However, most Wall Street analysts still maintain a long-term optimistic view on the company. Market focus includes SpaceX's future investment plans in AI, satellite internet, and mobile communication businesses. Despite facing capital expenditure pressure in the short term, analysts believe the company's leading position in rocket launches, Starlink satellite network, and commercial space sectors remains an important factor supporting its long-term valuation. This stock unlocking of about $100 billion has also become an important event for the market to test investor confidence after SpaceX's listing. The lack of significant stock price fluctuations indicates that the market had certain expectations regarding the liquidity release from internal shareholders.
SpaceX's First Financial Report Unveiled Tonight, Starlink, Starship, and AI Businesses Undergo Simultaneous Scrutiny
According to Jin10 Data, SpaceX will announce its first earnings report since listing after the US stock market close on Tuesday. Since listing on June 12, the company's stock price has fallen nearly 50% from its high, with market capitalization shrinking by over $500 billion. As of Monday's close, it was reported at $114.53, approximately 15% lower than the IPO issuance price. Market focus centers on three key areas: • Starlink: S&P Global expects Q2 revenue to reach $6.9 billion, primarily driven by Starlink, which is currently SpaceX's only profitable business segment; • AI: SpaceX's AI business revenue was $818 million in the first three months of this year. It has reached compute supply cooperation agreements with Google, Anthropic, etc., and acquired coding startup Cursor (approximately $60 billion); • Starship: The 13th test flight was completed, but the booster experienced a hard landing. Analyst firm Bernstein believes Starship is one of the most critical factors supporting the high valuation. Additionally, after the lock-up period ends on Thursday, over 911 million shares (market value approximately $100 billion) will be unlocked for circulation. Coupled with short selling funds' paper profits reaching $8.3 billion, market selling pressure cannot be ignored.
Morgan Stanley: If SpaceX Stock Price Drops to $100, It Means Its AI Business Valuation Goes to Zero
Morgan Stanley analysts stated that if SpaceX's stock price falls to $100 per share, it implies the market's valuation of its AI business has dropped to zero. SpaceX launched an IPO valued at $86 billion in mid-June, and this week it fell to a low of $110.85, down 18% from the offering price. Analysts assigned a target price of $300 per share to the stock, with more than half derived from the AI business valuation. Previously, SpaceX entered the AI infrastructure sector leveraging its Starlink satellite network, providing low-latency data transmission services for large model training.
Financial Times: Investors Begin Betting on Musk's SpaceX Stock Price Decline
According to the Financial Times, investors are increasingly betting on a decline in SpaceX's stock price, with the stock price falling below the offering price for the first time just weeks after its listing. The report states that SpaceX's initial valuation incorporated high expectations for future growth, such as Starlink satellite internet expansion, commercialization of space business, and AI-related potential. Although previously favored by the market due to its rocket business, satellite internet, and artificial intelligence positioning, attracting significant capital attention during the early listing period, the retreat in stock price has led some traders to begin betting on further declines through short selling or other bearish strategies. Currently, SpaceX has not yet responded to this market trading situation.
SpaceX IPO Quiet Period Ends, Wall Street Firms Upgrades Ratings in Rapid Succession
as the 25-day quiet period following SpaceX's (SPCX) June IPO comes to an end, Wall Street analysts have begun releasing formal research reports. Multiple major brokerages have issued favorable ratings, indicating institutional investors remain optimistic about the company's long-term growth potential.As IPO underwriters, both Goldman Sachs and Morgan Stanley have assigned buy-equivalent ratings to SpaceX. Goldman Sachs analyst Eric Sheridan set a price target of $205, while Morgan Stanley analyst Adam Jonas gave a target of $300. Additionally, institutions such as Bank of America, Citigroup, Deutsche Bank, JPMorgan, and UBS have also initiated coverage with buy or equivalent ratings. Among them, Raymond James Financial provided the most optimistic forecast; analyst Brian Gesuale initiated coverage of SpaceX with a "Strong Buy" rating and a price target as high as $800, believing SpaceX will become "one of the most representative industrial infrastructure companies of the 21st century."Analysis suggests that market optimism towards SpaceX is primarily based on its布局 (layout/foundation) in areas such as rocket launches, Starlink satellite internet, and government contracts. At the same time, the company's communications business can provide a sustainable source of revenue and support future expansion of launch scale.As of March 31, 2026, SpaceX holds 18,712 Bitcoins. Wall Street believes that the concentrated coverage following the end of the IPO quiet period provides a window for institutional investors to conduct their first systematic assessment of SpaceX's valuation. The fact that nearly all major institutions simultaneously issued positive ratings is relatively rare for large-scale IPOs. (CoinDesk)
Myanmar Telecom Fraud AI Industrialization Exposed: Starlink Becomes Critical Infrastructure, Crypto Payments and OpenAI/Google Models Integrated into Toolchain
According to Red Star News, an investigation report leaked from Myanmar fraud parks shows that global telecom fraud is accelerating towards an "AI industrialization + cross-border encrypted payment" system. Fraud networks complete fund flows through cryptocurrencies and use large model-based automated tools for multi-language script generation, identity disguise, and emotional manipulation. According to investigation analysis, these systems extensively utilize OpenAI's ChatGPT and Google's Gemini at the functional level to support "scaled social fraud," while on the funding end, rapid laundering and transfer are achieved through on-chain payments and cross-border channels, forming a dual-layer structure of "AI customer acquisition + encrypted settlement," enabling the fraud industry to possess high automation and cross-national diffusion capabilities. Additionally, Musk's Starlink has become the top network service provider for Myanmar fraud parks, with US ISP service providers carrying nearly one-fifth of the park's traffic. Regarding the relevant allegations, OpenAI responded that fraudsters' use of ChatGPT is highly similar to that of ordinary users, making identification difficult, but approximately 100,000 suspicious accounts are banned monthly through behavior pattern recognition and risk control systems. Google stated its AI models have established safety guardrails and emphasized commitment to "responsible AI development" to limit tools from being used for illegal purposes such as fraud.
HSBC: Starlink Users Surpass 12 Million as Space Race Boosts Earth-Based Industries in Three Ways
According to Trend Research, an HSBC report released on August 18 spanning 12 industries points out that SpaceX's Starlink has crossed the inflection point for scale. As of June 30, it operates 10,200 satellites in orbit and serves 12 million broadband subscribers across 167 markets. Additionally, 7.4 million monthly active devices connect directly to mobile phones via satellite (Direct to Cell), covering 30 countries. Maersk has installed Starlink on more than 330 container ships, while United Airlines plans to upgrade 15 Boeing 737-800 aircraft per month. Starship aims to reduce launch costs to $100–$300 per kilogram, representing a decline of over 95% compared to historical averages. HSBC assesses that the space race is now benefiting terrestrial industries across three dimensions: From a communications standpoint, Starlink and ground-based telecom operators are predominantly complementary, filling coverage gaps in oceanic, desert, and post-disaster environments. Regarding compute infrastructure, orbital data centers currently cost three times as much as ground-based equivalents, acting mainly as strategic reserves; however, if TeraFab’s vertically integrated wafer fabs succeed, they could revolutionize the division of labor in the semiconductor industry. At the energy level, AI data centers have pushed the annual growth rate of U.S. power demand to 4%-5%, making renewable energy and the electrical grid the largest beneficiaries. Among the 12 industries covered, power, semiconductors, and robotics are being directly transformed.
Legendary fund manager Ron Baron boldly predicts: SpaceX could reach a valuation of $4 trillion in the next 10 to 15 years
Odaily News - Baron Capital founder and legendary investor Ron Baron recently made an aggressive prediction about SpaceX's future growth prospects, suggesting that the space company founded by Elon Musk could reach a valuation of $4 trillion within the next 10 to 15 years.Baron has long been bullish on SpaceX, previously stating that the company could achieve a valuation growth of $10 trillion to $30 trillion over the next 10 to 15 years, and has said SpaceX has the opportunity to become one of the largest companies in the world. Baron's optimism is primarily driven by SpaceX's Starlink satellite internet business, reusable rocket technology, and the future space infrastructure market. He believes that as global demand for internet connectivity grows and AI computing needs expand, the space economy could become a new long-term growth frontier. Baron Capital GroupBaron Capital has previously taken a significant position in SpaceX. The firm began investing in SpaceX in 2017 and stated that the investment has generated substantial returns. Baron has previously noted that the SpaceX portfolio has become a major component of his funds, and he expects the company to maintain long-term growth potential even after going public. Baron FundsHowever, market observers point out that SpaceX still faces significant challenges in reaching a multi-trillion-dollar valuation, including the pace of Starlink commercialization, rocket launch costs, the ability to execute new businesses such as space data centers, and execution risks associated with a high valuation. Currently, long-term value expectations surrounding SpaceX are becoming a focal point in capital markets, with supporters arguing that the company is transitioning from a traditional aerospace enterprise into a platform company integrating satellite communications, AI infrastructure, and the space economy. (Thestreet)
10x Research: Bitcoin's True Investment Thesis May Lie in Space Infrastructure and Decentralized Computing
10x Research released a report stating that the market generally believes Bitcoin's core value lies in hedging against currency debasement, but this is not its true investment thesis. The report argues that the core constraint facing decentralized currency is not monetary policy, but physical conditions, including energy, heat dissipation, and geographical jurisdictional limitations.The report points out that with the development of space infrastructure, the constraints of heat, electricity, and geographical limitations faced by data centers could be alleviated in orbital environments. The connection between SpaceX, Starlink, and Bitcoin may represent a long-term strategic layout centered around future infrastructure construction.10x Research believes that technologies such as satellites, encryption technology, and artificial intelligence can both promote the decentralization of power and potentially reinforce resource concentration. The world is competing around two sets of infrastructure systems.The report also compares Bitcoin with China's digital yuan, suggesting they represent different paths for digital infrastructure. It also notes that as populations gradually move away from traditional network systems, the business models of companies like Palantir may also be affected.
SpaceX IPO Quiet Period Ends, Wall Street Firms Upgrades Ratings in Rapid Succession
as the 25-day quiet period following SpaceX's (SPCX) June IPO comes to an end, Wall Street analysts have begun releasing formal research reports. Multiple major brokerages have issued favorable ratings, indicating institutional investors remain optimistic about the company's long-term growth potential.As IPO underwriters, both Goldman Sachs and Morgan Stanley have assigned buy-equivalent ratings to SpaceX. Goldman Sachs analyst Eric Sheridan set a price target of $205, while Morgan Stanley analyst Adam Jonas gave a target of $300. Additionally, institutions such as Bank of America, Citigroup, Deutsche Bank, JPMorgan, and UBS have also initiated coverage with buy or equivalent ratings. Among them, Raymond James Financial provided the most optimistic forecast; analyst Brian Gesuale initiated coverage of SpaceX with a "Strong Buy" rating and a price target as high as $800, believing SpaceX will become "one of the most representative industrial infrastructure companies of the 21st century."Analysis suggests that market optimism towards SpaceX is primarily based on its布局 (layout/foundation) in areas such as rocket launches, Starlink satellite internet, and government contracts. At the same time, the company's communications business can provide a sustainable source of revenue and support future expansion of launch scale.As of March 31, 2026, SpaceX holds 18,712 Bitcoins. Wall Street believes that the concentrated coverage following the end of the IPO quiet period provides a window for institutional investors to conduct their first systematic assessment of SpaceX's valuation. The fact that nearly all major institutions simultaneously issued positive ratings is relatively rare for large-scale IPOs. (CoinDesk)
SpaceX IPO Attracts Over $250 Billion in Investment Demand
According to reports, SpaceX, the aerospace company led by Elon Musk, has attracted over $250 billion in investment demand for its IPO, surpassing its planned fundraising target of $75 billion. The offering is nearly 4 times oversubscribed, valuing the company at $1.8 trillion. Bankers and investors noted that long-term funds have submitted large orders. Pricing is expected to be finalized on Thursday, though demand figures could still change before orders are placed by major institutional investors. SpaceX's growth narrative is primarily tied to its satellite internet business, Starlink, which has become a significant source of revenue and profit for the company. SpaceX also highlighted that its artificial intelligence products address a market opportunity worth $23 trillion. Cryptocurrency exchanges including Binance, Coinbase, Kraken, and Bybit have listed pre-IPO perpetual futures for SPCX this month. Binance's related product has accumulated a trading volume of $2.1 billion over 18 days, covering over 130 countries. Decentralized exchange Hyperliquid recorded a trading volume of $70 million in the past 24 hours, with open interest exceeding $115 million. (Cointelegraph)
Analysis: SpaceX IPO Valuation Staggering, Yet Future Business Path Remains Unclear and Profitability Unproven
SpaceX is progressing with its IPO and seeking a valuation of approximately $1.78 trillion. If realized, it would become the world's seventh-largest company by market cap. However, the mid-to-long-term business path justifying this valuation remains unclear.Furthermore, SpaceX's core narrative is shifting. In February of this year, Musk integrated SpaceX with xAI, making artificial intelligence a key component of the company's strategy. Compared to the original core vision of "making humanity a multi-planetary species," AI now occupies a more prominent position in the company's narrative. In the first quarter, xAI-related business reportedly accounted for over three-quarters of capital expenditures, while approximately 93% of the total addressable market mentioned in the IPO filing is also related to AI.Musk has long been adept at restructuring business narratives to align with market preferences, as seen in previous cases like integrating SolarCity into Tesla and merging Twitter with the xAI ecosystem. SpaceX's new narrative combines rocket launches with AI, envisioning the deployment of AI data centers in orbit to build future computing infrastructure. However, SpaceX launched approximately 2,200 tons of payload into orbit last year, while Musk has suggested that realizing the orbital data center vision would require an annual launch capacity of about 1 million tons. Although Starlink and the rocket business already hold industry-leading positions, genuine cash flow will ultimately be needed to validate this massive valuation hypothesis. (Financial Times)
Related news
AI space technology company Muon Space completes $250 million Series C funding round, with participation from Google and others
Odaily News: AI space technology company Muon Space announced the completion of a $250 million Series C funding round, led by Eclipse Capital, with participation from Google, Salesforce Ventures, Galvanize, Wellington Management, I Squared Capital, Woven Capital, as well as Radical Ventures and Congruent Ventures. The new funds will be used to accelerate large-scale satellite constellation production, expand dual-use spacecraft platforms, enhance on-orbit AI computing capabilities, and provide real-time ultra-high-bandwidth satellite connectivity in partnership with SpaceX Starlink.
HSBC: Starlink Users Surpass 12 Million as Space Race Boosts Earth-Based Industries in Three Ways
According to Trend Research, an HSBC report released on August 18 spanning 12 industries points out that SpaceX's Starlink has crossed the inflection point for scale. As of June 30, it operates 10,200 satellites in orbit and serves 12 million broadband subscribers across 167 markets. Additionally, 7.4 million monthly active devices connect directly to mobile phones via satellite (Direct to Cell), covering 30 countries. Maersk has installed Starlink on more than 330 container ships, while United Airlines plans to upgrade 15 Boeing 737-800 aircraft per month. Starship aims to reduce launch costs to $100–$300 per kilogram, representing a decline of over 95% compared to historical averages. HSBC assesses that the space race is now benefiting terrestrial industries across three dimensions: From a communications standpoint, Starlink and ground-based telecom operators are predominantly complementary, filling coverage gaps in oceanic, desert, and post-disaster environments. Regarding compute infrastructure, orbital data centers currently cost three times as much as ground-based equivalents, acting mainly as strategic reserves; however, if TeraFab’s vertically integrated wafer fabs succeed, they could revolutionize the division of labor in the semiconductor industry. At the energy level, AI data centers have pushed the annual growth rate of U.S. power demand to 4%-5%, making renewable energy and the electrical grid the largest beneficiaries. Among the 12 industries covered, power, semiconductors, and robotics are being directly transformed.
Wealthy family offices increase bets on SpaceX, with positions reaching $3.8 billion as they back Musk's space and AI empire
Odaily News According to reports from the Americas, Europe, and the Middle East, family offices of ultra-high-net-worth investors are significantly increasing their investments in SpaceX, with total exposure reaching approximately $3.8 billion. This shows that private wealth institutions are competing for investment opportunities in the rocket, satellite, and artificial intelligence company founded by Elon Musk.According to data compiled by Bloomberg based on regulatory filings (13F), as of the end of June, the family office of Nick Pritzker, heir to the Hyatt hotel fortune, held a SpaceX investment position valued at approximately $1.8 billion.The report states that as SpaceX gains market attention following its initial public offering (IPO), more and more family offices are positioning themselves in the company through private market investment channels. Since SpaceX remains a high-valuation, scarce private technology asset, its equity opportunities have long been sought after by institutional investors and ultra-wealthy individuals.Investors value not only SpaceX's leading position in the commercial aerospace sector, but also its Starlink satellite internet business and its future potential in artificial intelligence infrastructure. As the AI wave prompts global capital to reassess the value of computing power, communications, and space infrastructure, SpaceX is gradually becoming an important investment target connecting the aerospace, satellite communications, and AI industries.However, due to the limited liquidity of SpaceX's private equity transactions and their high valuations, the large-scale bets by family offices also mean that investors are taking on higher long-term valuation and exit risks. (Bloomberg)
Legendary fund manager Ron Baron boldly predicts: SpaceX could reach a valuation of $4 trillion in the next 10 to 15 years
Odaily News - Baron Capital founder and legendary investor Ron Baron recently made an aggressive prediction about SpaceX's future growth prospects, suggesting that the space company founded by Elon Musk could reach a valuation of $4 trillion within the next 10 to 15 years.Baron has long been bullish on SpaceX, previously stating that the company could achieve a valuation growth of $10 trillion to $30 trillion over the next 10 to 15 years, and has said SpaceX has the opportunity to become one of the largest companies in the world. Baron's optimism is primarily driven by SpaceX's Starlink satellite internet business, reusable rocket technology, and the future space infrastructure market. He believes that as global demand for internet connectivity grows and AI computing needs expand, the space economy could become a new long-term growth frontier. Baron Capital GroupBaron Capital has previously taken a significant position in SpaceX. The firm began investing in SpaceX in 2017 and stated that the investment has generated substantial returns. Baron has previously noted that the SpaceX portfolio has become a major component of his funds, and he expects the company to maintain long-term growth potential even after going public. Baron FundsHowever, market observers point out that SpaceX still faces significant challenges in reaching a multi-trillion-dollar valuation, including the pace of Starlink commercialization, rocket launch costs, the ability to execute new businesses such as space data centers, and execution risks associated with a high valuation. Currently, long-term value expectations surrounding SpaceX are becoming a focal point in capital markets, with supporters arguing that the company is transitioning from a traditional aerospace enterprise into a platform company integrating satellite communications, AI infrastructure, and the space economy. (Thestreet)
Betting on SpaceX Yields High Returns, Canada's Largest Pension Fund's Assets Grow to CAD 303.2 Billion in H1
Odaily News: The Ontario Teachers' Pension Plan (OTPP) announced that its investment return reached 9.5% in the first half of this year, driven primarily by gains from Elon Musk's SpaceX initial public offering (IPO).In a statement, OTPP CEO Jo Taylor attributed the H1 performance growth to venture growth equity, public market equities, and inflation-resistant asset investments. By the end of the first half of the year, the fund's net assets had risen to CAD 303.2 billion (approximately USD 217.5 billion).According to reports, the SpaceX IPO was a key factor driving OTPP's investment returns. As one of the world's largest aerospace companies, SpaceX has rapidly expanded through commercial launches and satellite internet services like Starlink in recent years, attracting long-term capital from pension funds, sovereign wealth funds, and major institutional investors.OTPP is one of the world's largest institutional investors, with long-term investments in private equity, technology companies, and infrastructure assets. The valuation uplift from SpaceX's listing underscores the significant impact that unlisted tech unicorns and high-growth assets have on the returns of major pension funds. (Bloomberg)
Musk: Starlink May Carry Over 50% of Internet Traffic Long-Term, With Annual Revenue Potentially Exceeding $1 Trillion
Odaily News: Elon Musk posted on X platform, stating that with the development of AI and robotics, bandwidth demand will grow significantly, with data transmission needs potentially exceeding human demand by several orders of magnitude. Even if the communications market merely doubles in size, he expects Starlink to capture at least a 25% share in markets outside China, generating annual revenue exceeding $500 billion. In the long term, Starlink could carry over 50% of internet traffic, with annual revenue possibly exceeding $1 trillion, and there are currently no obvious obstacles in sight.