Keep pulling the thread on Bloomberg Intelligence.
SpaceX priced its Initial Public Offering at $135 per share.
SpaceX's opening value priced the company at an approximate market capitalization under $2 trillion.
At its IPO, SpaceX became more valuable than Tesla, Saudi Aramco, and Meta.
Early SpaceX investors like Peter Thiel and Sequoia are expected to make tens of billions of dollars from the IPO.
SpaceX has a stated ambition of having data centers in space by 2028.
SpaceX is developing a Neo Cloud business to rent compute capacity to other companies.
Mandeep Singh believes SpaceX's $2 trillion valuation is dislocated compared to Meta's $1.5 trillion valuation, given Meta has ten times more revenue.
James Chanos predicts that 2026 will feature a record-breaking amount of equity issuance from IPOs and secondaries.
James Chanos predicts that OpenAI and Anthropic will likely go public in 2026.
James Chanos asserts that SpaceX recently pivoted its business model from developing AI software like Grok to leasing its compute capacity to companies like Anthropic and Google via its NeoCloud business.
Over $22 trillion of the $29.5 trillion Total Addressable Market (TAM) cited in SpaceX's prospectus is based on its NeoCloud business.
James Chanos estimates that SpaceX is trading at approximately 110 times its revenues.