El original de "El Gran Pánico" Steve tiene una actitud cautelosa hacia la OPI de SpaceX, diciendo que está apostando demasiado por la IA y que el gasto de capital es demasiado alto.

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Golden Finance reports that on June 9th, Steve Eisman, the original figure of "The Big Short" known for successfully shorting the U.S. real estate market, stated that he would not short immediately after SpaceX goes public, but remains cautious about its IPO prospects.
Eisman pointed out that SpaceX's capital expenditure is expanding rapidly. Data shows that the company's capital spending as a percentage of revenue has increased from 42% in fiscal year 2023 to 215% in the first quarter of 2026. He believes this is mainly due to SpaceX accelerating its transformation into an AI services and infrastructure company, rather than solely a space technology enterprise.
Eisman stated that currently, AI large models and intelligent agent products lack clear differentiation, and industry competition is becoming homogenized, making it difficult to form a long-term moat. "The huge investments created are essentially more like a commodity," he said.
Although acknowledging Musk's ability for continuous innovation and cycling through phases, Eisman still believes that SpaceX's future growth logic overly depends on AI, rather than space business or Starlink. "The entire company's future is betting on AI, not space business or Starlink," he said.
SPACEX9,2%
SPCX-4,05%
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