To get enough payload into space that the evaoluation is worth while, he really need to do this datacenter in space thing and sending enough hardware up there to match just one GPU based datacenter would take one Starship launch every single day.
Lets ignore that building Datacenter on earth is stll A LOT easier and cheaper to do and that we shouldn't vaporize non sustainable metals into our atmosphere alone for health reasons.
We have robots, AI (which is so bad that he prevers to rent out his AI hardware instea d of making more money with it directly), 3 Car models and something else combined in two companies with an overall value over 3T.
This setup is still higher valuated as plenty of big car manufacturers, robotics companies and a lot more other companies thrown into the mix together.
What am Im missing here?
I actually calculated and researched these numbers and while it seems that you are dismissive because of your ideological position? i saw and read Elon Musks claim about AI Datacenters in Space and him writing about a dyson sphere and calling it bullshit.
You are not evaluated as the 7/8th most valuable companie on the planet just because you build rockets and send up a little bit of payload. Thats why their P/E is 3 digits.
Over a 100 launches a year, most of them for starlink doesn't sell you the valuation the company currently has. And they have to keep sending up starlink satelites just for renewale of the existing ones. This blocks Space-X of having good margins on it. A normal telecom provider builds a fiber underground and a tower and that stuff just stays there for ages.
And yes you know what happened when people realized this is a thing? Yeah more companies are going into the market. Check out how many will aunch their first rockets in 2027.
Tesla was what everyone valued crazy a because Tesla is not a car company, now Space-X is doing the same s*it as Tesla.
The general economy/inflation etc. and cost o fmoney is for sure not a good sign. Lets hope, i def want to invest in Anthropic.