SpaceX Is Funding an AI Bet Before the Proof

SkepticalAhead of the evidence

SpaceX’s AI build is credible. The stock has already paid for 10 gigawatts it has not built.

ConvictionModerate

What to do with this

1. Value the AI arm on deployed gigawatts (0.4 today), not on the roughly 10 GW site plan.
2. Treat Starlink’s $4.4 billion of operating income as the collateral, not the upside.
3. Strip related-party and Anthropic-linked revenue out before calling AI demand proven.