
Most investors still value SpaceX as a rocket company.
Silicon Valley’s top venture capitalists see something much bigger.
Their thesis: rockets are simply the transportation layer for the next economy. The real value lies in AI infrastructure, orbital computing, satellite networks, robotics, and eventually space-based energy.
If AI’s biggest bottleneck becomes power rather than chips, orbital solar-powered data centers could transform computing economics. Starship lowers launch costs, Starlink connects the network, and AI becomes the operating system.
It’s an ambitious vision and much of it remains speculative. But the greatest investments often look impossible before they become inevitable.
The question for investors isn’t how many rockets SpaceX launches next year. It’s whether SpaceX is building the foundational infrastructure for a multi-trillion-dollar space and AI economy.
That’s the bull case the market is being asked to price


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