Matt Frankel

This is a huge deal.

It's a huge part of the business moving forward for SpaceX.

You look at the total addressable market.

SpaceX kind of waving its hands in the air saying, we've got the largest total addressable market in history.

Well, 80% of this $28.5 trillion market, 80% is enterprise AI.

That is very interesting.

The company is also looking to acquire Cursor for $60 billion.

That acquisition could eat up all of the IPO proceeds and the IPO proceeds are set to break all the records.

You look on top of this, it wants to build out TerraFab.

That could be a $55 billion initial investment.

So for some, this might not be gross.

This might not be like undesirable.

Maybe our listeners are actually celebrating this pivot, this emphasis, this vision that it has for AI.

And I wouldn't necessarily disagree with that.

It is very surprising, though, that a space company is focusing so hard.

And I think that listeners need to understand, if you're investing for the rockets, if you're investing for Starlink, that is...

waning insignificance in the eyes and vision of management from here?

Yeah, there's exactly a 0% chance that I'm going to buy SpaceX's IPO, I'd say even in 2026.

Now, it might not be for the reasons that you might think.

I just complained about the AI, but I'm actually keeping an open mind about that.