SpaceX IPO 'Watershed' Moment for Markets, Says Ives

[00:00:00]I mean, we could put them at three, the core foundational pieces of the AI revolution, Anthropic, OpenAI, of course SpaceX. But look, first to market there's an advantage. It's important, and that's why this is going to be a continued sort of battle, arms race between OpenAI and Anthropic, and that's essentially what investors are watching.

[00:00:20]Obviously, SpaceX is, you know, a very important, almost watershed moment for the overall markets this week, but to get the popcorn out, I mean, it's just starting.

[00:00:30]>> For our viewers on YouTube, I always try to figure out where in the world is Dan Ives when we have him on via Zoom, cuz it could be anywhere literally on the planet.

[00:00:38]>> us from Asia.

[00:00:39]>> Everywhere. I don't know.

[00:00:40]>> In the middle of his night.

[00:00:41]>> Today, I can't figure it out. I think he's in a bunker somewhere like in the Pentagon, but >> [snorts] >> Dan, talk to us about what's the feedback >> off Just Just got off the red eye, but what a better place to be than than with you, Adam.

[00:00:52]>> Exactly. Appreciate that. Dan, we're day three of the roadshow for SpaceX. What are the What's some of the feedback you're hearing from your institutional investor clients?

[00:01:01]>> I mean, look, I think the big focus is just is it a space play? Is it a data play? Right? I mean, I think that's really how investors overall are focused on SpaceX. Look, and I continue to believe like when it comes to SpaceX, it's much more around data and AI and the ecosystem than maybe just when you think about space in its first sort of phase.

[00:01:25]But what we're talking about what's going to be a decade buildout of space, and it's not just about SpaceX, it's about the broader sector that now investors are really starting to focus. You're now going to have a lot of institutional money, not just tech retail. You're going to have a space analyst.

[00:01:43]>> Very well said, and I guess the question is how do people value it going forward because there's different explanations for whether this is um a rocket company, a data company as you put it, or kind of a vertically integrated new technology company, which is kind of what Elon Musk is envisioning here. Um in the same way that uh Tesla started off as an electric vehicle company and has become a lot more. How are you anticipating Elon to kind of um set the benchmark for how he's going to talk about the the kinds of numbers that SpaceX can achieve. We got a sense of it through the IPO prospectus, but you know, he's going to have to manage expectations quarter after quarter here.

[00:02:23]>> Yeah, no doubt. And as well as what's on the horizon. I look, I think Tesla is a good blueprint. Because you look, if you go back, right? I mean, you know, when it came out here, many bet against Musk, Tesla, the numbers in terms in the near term and then ultimately what's proven out to be not substantial that's really changed the world. I think to some extent if you're buying SpaceX, you're buying Musk. I mean, you're buying into Musk ecosystem. Now, the challenge and the opportunity is build that out, execution, step-by-step. But it's also our view like in a year have some merger. We've said over 80% chance between SpaceX and Tesla.