29 September 2026 | 9:03AM EDT Equity Research Space Exploration Technologies Corp. (SPCX): Starship Flight 14 - Launch Produces Positive Read on Long-Term Starship Potential On the back of Starship Flight 14 (on 9/28), we take the opportunity to address the operational performance. Similar to prior launches, the launch provided positive proof points as the company looks to continue to progress & confront technical hurdles against the broader goal of both reusability and frequency for Starship launches in t ...

We frame this preview around three key investor debates/questions: n How should investors think through the build out of terrestrial compute capacity over the next ~12-18 months? Based on management commentary, we believe that visibility into scaling to 2.4GW by YE26 is high. Heading into 2027, we expect for the key variables to make progress toward a range of 5-10GW of terrestrial compute (7.0GW by YE27 & 10.6GW by YE28) include: (a) power & cooling; (b) shells (i.e. datacenter infrastructure); & (c) serve ...

October 11, 2026 10:11 PM GMT SpaceX | North America Why Starship Flight 15 Really Matters T-minus ~1 month. Each Starship launch can deliver 1-2+ months' worth of (Falcon 9 equiv) bandwidth, and Flight 15 (ship catch or not) is a serious proof point toward reusability, de-risking TAM expansion opps across the business. Most investors we speak with are still watching from the sidelines. Flight 15 (~1 month from now) is shaping up as SpaceX's biggest test towards Starship reusability since the IPO, with Flig ...

While startups from clean tech to semiconductors are benefitting from AI capex, we see interesting business models emerging that increasingly view data centers as integrated AI factory systems that require coordination of everything from power to data movement orchestration. M US Thematics | North America October 9, 2026 04:01 AM GMT M Foundation Venture Vision: Data Center to AI Factory Key Takeaways We see a broadening opportunity set for startups that address various bottlenecks and/or attempt to future- ...