Micah Maidenberg

What?

is kind of fascinating about SpaceX in this conglomerate form, ranging from social media to space to AI, is that it does have both these literal and figurative moonshots ahead of it, according to the investor prospectus for this IPO.

And it does have a very powerful operating business in Starlink.

Starlink provides high-speed internet through the biggest satellite fleet in history.

And I think for a lot of investors, that's given them some comfort to know that there is a big business already there in Starlink and one that has some real growth potential ahead of it.

The rocketry that SpaceX has sort of mastered with its Falcon 9 vehicles also gives them immense credibility and a strategic asset that really no one else has been able to quite master yet.

There are a lot of launchers, Blue Origin included, that want to fly rockets a lot more.

And the expectation is there's going to be a lot more rockets competing with SpaceX, trying to get their share of the launch market and sending up rockets.

all sorts of satellites for the military, for communications purposes, internet satellites.

And this bigger question about artificial intelligence satellites or orbital data centers is also on the table too.

SpaceX is building a huge part of their IPO about a future where they're operating

scores just an enormous fleet of satellites dedicated to AI compute.

Jeff Bezos through Blue Origin wants to do the same.

There are other companies that are already working on AI satellites as well.

So just the next decade, a big part of it is going to be trying to figure out how real and how scaled up sort of artificial intelligence compute in space can really be.

One thing that lots of companies that are involved in space, whether they're really big established companies or startups, you know, looking to develop a technology, a question they often ask is like, how do we relate to SpaceX?

SpaceX is the predominant launcher right now.

It's how you generally get to orbit.

It has a big satellite design, manufacturing operation, and sometimes you'll see companies relocate.

you know, going head to head and competing with SpaceX.