$SPCX: Thoughts on SpaceX IPO (typos corrected from pre-mkt post) The company says its total addressable market is the largest “in human history,” at $28.5 Trillion. But this requires SpaceX to be thought of as a vertically integrated AI and connectivity infrastructure platform versus the rocket and satellite company which it is today. The $28.5 Trillion TAM Breakdown is as follows AI $26.5T: Enterprise Applications ($22.7T), AI infrastructure ($2.4T), consumer subscriptions ($760B), ads ($600B) Connectivity $1.6T: StarLink Broadband ($870B) and Starlink Mobile ($740B) Space $370B: Traditional launch services and space-enabled solutions Elon Musk is the Thomas Edison of our generation and SpaceX also has no other comparable in the technology industry at this scale. But unfortunately, the
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