Nicolas Owens
speaker
125 appearances
2 recordings
1 series
first heard Jul 2026
last heard 5 Aug
Nicolas Owens’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 2 in all, peaking in Aug 2026 with 1.
Appearances
It's not the one most people are talking about, where they're talking about hundreds of millions of people being displaced and all this other stuff.
That's correct.
And that's running scenarios where mostly they are making money like they are now on these, let's call them economically attractive or generous rental deals.
It has to really, really scale up for it to work out is that if the LLM that SpaceX has takes off
and starts consuming more of their own computing capacity, ironically, that displaces these rental incomes that they might otherwise be able to charge.
And so they have to sort of keep making more of it, and that costs money, right?
So I think they're building, or I saw a headline the other day that they're buying land in
somewhere, Arizona, like another Colossus-type installation.
And I think on the Calder, they talked about how many gigawatts they plan to have by the end of the year and by the end of the decade, and that implies more terrestrial investment.
So they're continuing to expand that footprint.
Eventually, they want to do it in space.
they have to do that really fast for them to be able to sort of have their cake and eat it too, have a very broad-based adoption of the LLM that they own, so to speak, as well as renting out to the market.
The $62 is the result of three scenarios, you know, a bull case, a medium case, and a bear case, and some probabilities that we assigned to those.
Only in the bull case do you get into the $130, $150, $160 range.
The problem is that depends on so many things going right that we think there's only a 7% chance of that happening.
So that's where you get to a weighted average fair value of $62.
You know, the medium case on its own is about $71 a share.
So I think we're in the same camp, if you will, thinking about halfsies.
valuation wise.
I think it's a really good point.
Showing 41–60 of 125 · page 3 of 7
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