SpaceX just dropped its first earnings report as a public company, beating expectations but seeing a post-market dip—thanks to a jaw-dropping $18.4 billion in capital spending, mostly funneled into AI chips. Elon Musk boldly projects $1 trillion in revenue by 2030 and singled out Nvidia’s Vera Rubin architecture as the best for AI compute. But the real goldmine? Memory stocks, especially Micron. With AI compute demand surging at 200% annually while memory supply grows just 20%, prices are poised to climb—and memory is now the main bottleneck. SpaceX’s massive spending, alongside hyperscalers, is a huge tailwind for memory chip makers. Even though Micron’s stock has fallen from its peak, Musk’s comments signal tightening markets and rising prices ahead.
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