Nicolas (Nick) Owens

speaker

86 appearances 1 recordings 1 series first heard Jun 2026 last heard 9 Jun

Nicolas (Nick) Owens’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 1 in all, peaking in Jun 2026 with 1.

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The Master Investor Podcast with Wilfred Frost · Should You Buy Space X? | IPO Special · 9 Jun 2026 podcast

There's a negative scenario where data centers in space don't work, and so they spend some money to find out and shut it down.

So that's a few dollars drag in one scenario, which we ascribe 43% likelihood.

Then what we call the minimum viable product or the base case scenario is where data centers in space work,

They're commercially viable, but they're not highly competitive to terrestrial.

So there's sort of some cost parity or cost, and there's some capacity constraints.

And so we value that at 50% probability.

And then there's this

what we called moonshot, but what you simply might call the upside scenario where data centers in space are both viable and commercially competitive with terrestrial, and they end up getting sort of more share of the global compute capacity and rent it out and so forth.

Again, we model it as an infrastructure play.

This is really less so about Grok or self-driving cars or what have you.

It's really about the market value of

the scarce resource, which is these gigawatt capacity data processing centers.

Well, that gets you to $154.

And so if you believe that, if you believe that is, call it 100% true, that it's all going to happen, then you're getting the Mars shots for free.

And frankly, I don't doubt that there's a decent contingent of investors who believe exactly those things.

And that's exciting.

They've priced the deal such that it has an implied market valuation or enterprise value of close to $1.8 trillion.

We...

Just a year ago in July of 25, the private market valuation of the rockets and Starlink business was 400 billion.

And in February, a deal was done where the SpaceX, the company bought the XAI business from Elon Musk, which is now the AI division of SpaceX.

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