On June 16, in the latest episode of the BG2 podcast, Fox and Brad Gerstner discussed the economics of deploying AI computing power into space and viewed it as a potential long-term option in SpaceX’s valuation.

BG2 is a technology investment podcast hosted by Altimeter founder Brad Gerstner and Bill Gurley, the former general partner at Benchmark, and is highly recognizable among Silicon Valley investors. Gerstner is the founder and CEO of Altimeter Capital; Andrew Fox (often nicknamed Foxy) is an analyst at Atreides Management.

Fox said that, based on his calculations, each Starship launch could correspond to about 5 megawatts of computing capacity. If extrapolated further, the capital expenditure to deploy the relevant equipment into space might be around $5 billion per gigawatt.

He compared this figure with ground data centers, saying that capital expenditure for ground data centers on switching equipment, generators, transformers, buildings, power acquisition, and cooling systems could reach $20 billion to $25 billion per gigawatt. Therefore, if an orbital computing power plan holds, some non-GPU infrastructure costs could be significantly lower than on the ground.

Gerstner added from the perspective of the overall cost of building computing capacity: today, deploying 1 gigawatt of computing power on the ground might require about $60 billion, with approximately $35 billion for GPUs and chips and about $25 billion for land, buildings, power, and cooling. He believes these ground components could face inflation pressure in the future, whereas in space, space, power, and cooling are nearly free in the economic model.

However, Fox also made it clear that orbital computing power is not a necessary condition for SpaceX’s IPO valuation to be valid. He believes this business is more like an important upside opportunity than the core premise of the current valuation. #我的Gate交易时刻