SpaceX Could 4X - The Market Still Thinks It's a Rocket Company

LG Doucet and Kyle examine Elon Musk’s broader strategy across SpaceX and Tesla, arguing that rockets, Starlink, AI compute, autonomous vehicles, energy storage, and humanoid robots form an interconnected infrastructure stack. The central thesis is that SpaceX could build connectivity and compute capacity now, rent it to customers, and eventually redirect that infrastructure toward Tesla’s vehicles and robots at scale.

They also assess the reported work by Tesla and SpaceX committees on a potential merger, including the operational efficiencies that could come from combining businesses already buying products and services from each other. Kyle explains why he believes SpaceX remains undervalued, while acknowledging that execution depends on ambitious compute, manufacturing, and scaling targets and that the timing or completion of any merger remains uncertain.