Keep pulling the thread on Bloomberg Tech.
SpaceX's IPO has attracted more than $70 billion in orders from retail investors.
Oracle's stock fell by 12%, the most in six months, after reporting higher-than-expected quarterly capital expenditures.
SpaceX's IPO is at least four times oversubscribed.
SpaceX plans to deploy up to 1 million data center satellites into space for complex AI computing.
The deployment of SpaceX's AI data center satellites is critically dependent on the successful development of its Starship rocket.
ARK Invest believes that SpaceX's Starship rocket will reduce the cost of launch to much less than $100 per kilogram.
ARK Invest estimates that SpaceX could generate $300 billion in incremental annual revenue by launching tens of gigawatts of data center capacity, based on a market rate of $15 billion per gigawatt.
SpaceX has rented AI compute capacity to Google and Anthropic at a blended average rate of just under $40 billion per gigawatt.
Elon Musk has stated a goal for SpaceX to launch 1 million tons to orbit annually within approximately 5 years.
ARK Invest projects that SpaceX could achieve $300 to $400 billion in revenue by 2030, primarily from its Starlink business.
SpaceX reported a net loss of $4.28 billion on revenue of $4.69 billion in the first quarter.
ARK Invest believes it is more likely than not that SpaceX and Tesla will merge after the SpaceX IPO.