SpaceX Expects to Spend $35 Billion to $40 Billion This Quarter. Here's Who Sells the Power and Cooling.

Impact · against what's priced in

The massive scale of SpaceX's Q4 capex and debt funding provides concrete evidence for the AI-driven demand cycles that the market is currently discounting for Nvidia, GE Vernova, and Caterpillar. While the nominal spending is high, the impact is positive because current prices are explicitly declining the multi-year supercycle and specific large-scale partnerships like SpaceX's.

NVDA+0.40

Challenges what's priced in

The price assumes