Renowned Silicon Valley investor: SpaceX is the future bet that institutional investors "must buy and hold"

Mars Finance News: On June 16, in the latest episode of the BG2 podcast, Brad Gerstner described SpaceX as an asset that institutional investors should “buy and hold,” saying this is because the company is positioned squarely on two major fronts: the space economy and the expansion of AI computing power. BG2 is a Silicon Valley investment circle podcast focusing on technology, markets, investment, and capitalism, hosted by Altimeter’s founder and CEO Brad Gerstner and Bill Gurley, a former general partner at Benchmark. Gerstner himself is a technology growth-stock investor who has long followed cloud computing, AI, and high-growth technology companies.

Gerstner said that if investors believe in the direction of AGI’s development, they must accept a premise: the scale of computing power the world needs to build will far exceed current market expectations, and the economic value created by large models in the future will be higher than most people can imagine. In his view, once this judgment is linked to SpaceX’s core business, it is hard to find another company or entrepreneur that can offer such a direct bet on the future.

Regarding valuation disputes surrounding a potential IPO, Gerstner said that skeptics are focused on SpaceX’s revenue from last year and the investment banks’ forecasts of a substantial increase in revenue over the next three years, while questioning how few companies can achieve several-fold expansion within three to four years. But he believes that if the business is broken down using first principles, Starlink, ground-based AI computing power, and the model business after the Cursor acquisition could all support this growth path. Gerstner also mentioned that after signing new deals, SpaceX’s valuation multiple fell from roughly 100x of past revenue to about 39x, and he said the company added about $290 billion in orders within one month—something he considers extremely rare.