SpaceX (SPCX) is down from its post-IPO highs, and it’s quietly become one of the biggest neoclouds in the AI data center buildout. Is it hype, or is there a real strategy behind the xAI and Cursor deals?
In this episode, we take an objective, numbers-first look at SpaceX as a public company, setting aside the Elon Musk controversy to focus on the business:
Why a rocket and satellite company merged with xAI and spent $60 billion in stock on the AI coding platform Cursor.
Breaking down the reported compute-leasing deal with Google, the path toward a $41 billion annualized run rate by year-end, and the goal of 10 gigawatts of compute by 2027.
Looking at the feasibility and plan to put Nvidia Vera Rubin-based data centers in orbit.
Analyzing 92% revenue growth in the June 2026 quarter, Starlink connectivity vs. AI segment revenue, adjusted EBITDA vs. EBIT, an $18.4 billion quarterly CapEx ramp compared with CoreWeave and Nebius, and a balance sheet with $100 billion in cash.
Does SpaceX belong in our portfolio right now, and which space economy stocks are on our watch list?
Timestamps:
0:00 SpaceX After the IPO: Neocloud Hype or Real Strategy?
1:05 Separating the Business From the Elon Musk Controversy
2:30 The xAI Merger: Why a Rocket Company Bought an AI Lab
4:00 The $60B Cursor Deal and Filling Its Own Data Centers
5:00 Google Deal, $41B Run Rate and the Power Outage Problem
7:05 10 Gigawatts by 2027 and Nvidia Data Centers in Orbit
10:00 Financials: 92% Revenue Growth and Shrinking Operating Profit
11:45 CapEx Ramp: SpaceX vs CoreWeave vs Nebius
13:15 Starlink vs AI Segment, EBITDA vs EBIT and the Balance Sheet
18:00 Is SPCX a Buy? Our Verdict and Space Stock Watch List
Join Semiconductor Insider: Get our complete research, weekly live Q&As, and tools to build your process at https://chipstockinvestor.com
Why Chip Stock Investor Is Becoming a Software Business: https://chipstockinvestor.com/why-chip-stock-investor-is-becoming-a-software-business/
Connect with Us: https://linktr.ee/chipstockinvestor
Affiliate links are sprinkled throughout our show notes. If something catches your eye and you decide to buy, we might earn a little coffee money. Thanks for helping us (Kasey) fuel our caffeine addiction!
Content in this episode is for general information or entertainment only and is not specific or individual investment advice. Forecasts and information presented may not develop as predicted and there is no guarantee any strategies presented will be successful. All investing involves risk, and you could lose some or all of your principal. Chip Stock Investor holds no shares of SpaceX.
Episode DescriptionTimestampsResources & Links
