Alternative Carriers

SpaceX is aiming for September 22nd for its Starship Flight 14, which will mark the vehicle's first attempt to reach full orbit. SpaceX CEO Elon Musk said during a virtual appearance at the All-In Summit that Flight 14 will be the last before the company attempts to catch the ship, with that catch attempt planned for Flight 15, and that SpaceX will more likely re-fly both the ship and the booster early next year. Starship is designed to be fully and rapidly reusable, with a payload capacity of 200 metric tons and an expected cost of between $2 and $5 million per flight, compared with roughly $20 million per flight for the partially reusable Falcon 9. Ark Invest's Cathie Wood predicted each Starship launch could generate $1 billion in revenue, with Musk aiming for 10,000 flights per year, or $10 trillion in Starship revenues, by 2030, and said that if SpaceX achieves this goal its $1.75 trillion IPO will be considered a deep value opportunity in hindsight. Musk replied to the thread saying, "It's not impossible."

SpaceX stock rose about 5% on Tuesday as investors weighed two potential catalysts. On Monday, SpaceX said on X that it would fly the 14th test mission of its Starship spacecraft on Sept. 22 from its Starbase facility in South Texas, its first flight attempt since a positive flight in August. The company said the mission, if successful, will deploy new Starlink satellites and test enhancements to both Starship and its booster, and CEO Elon Musk hinted SpaceX may try to catch Starship at its launch site with the Mechazilla arms. Earlier Tuesday, SpaceX investor Ron Baron told CNBC he thinks Starlink alone could be a trillion dollars in revenue in 10 years, with 700 billion to 800 billion dollars of EBITDA supporting a 14 trillion to 15 trillion dollar valuation. Musk also said at the All-In Summit that it was a great question whether Tesla and SpaceX would remain separate given their close collaboration, reviving talk of a possible merger between the two companies.

SpaceX is aiming for September 22nd for its Starship Flight 14, which will mark the vehicle's first attempt to reach full orbit and the last flight before the company attempts to catch the ship. CEO Elon Musk said during a virtual appearance at the All-In Summit that if Flight 14 goes well, SpaceX will try to catch the ship on Flight 15, and that later this year, but more likely early next year, the company will re-fly both the ship and the booster. Starship is designed as the first full and rapid reusable rocket ship, with a payload capacity of 200 metric tons and an expected cost of between $2 and $5 million per flight, compared with roughly $20 million per flight for the partially reusable Falcon 9. Ark Invest's Cathie Wood predicted each Starship launch could generate $1 billion in revenue, with Musk aiming for 10,000 flights per year, or $10 trillion in Starship revenues, by 2030, and said that if SpaceX achieves this goal its $1.75 trillion IPO will be considered a deep value opportunity in hindsight. Musk replied to the thread saying, "It's not impossible."

Cathie Wood says SpaceX had no need for public markets until Elon Musk's push into orbital AI data centers forced it to raise outside capital. The ARK Invest CEO told Livewire she never thought SpaceX would go public, but that Musk now needs the scaling the public equity markets provide. SpaceX's Connectivity business, primarily Starlink, generated $4.42 billion in operating income in 2025, while its AI business lost $6.36 billion, and the equation shifted further when SpaceX acquired Musk's xAI in February. SpaceX raised about $85.7 billion in its June IPO and told investors the proceeds would help fund AI compute infrastructure alongside launch systems and satellite capacity, with AI capital spending reaching $15.83 billion in the second quarter, about 86% of total quarterly capex, according to company filings. SpaceX argues orbital computing could sidestep constraints on terrestrial data centers such as electricity, land, cooling water and permitting by tapping solar energy in orbit, though Microsoft's Project Natick showed a technically successful underwater data center that was never scaled commercially, and Kalshi puts the chance of a 1-megawatt orbital data center going live before 2031 at 30%, with $46,000 traded on the market. Musk said he is highly confident SpaceX will launch AI computers from Nvidia into orbit in 2027, with significant scale expected in 2028.

SpaceX shares rose 5.1% to $151 in mid-morning trading Wednesday, pushing the stock back above the $150 level it first reached when it began trading June 12 following an IPO priced at $135. The catalyst was fresh policy news: U.S. defense officials confirmed on-orbit space-control weapons and highlighted progress on the Golden Dome interceptor program, tied to multibillion-dollar SpaceX contracts awarded earlier this year, pointing investors toward Starshield, SpaceX's national security satellite business, which already holds more than $6 billion in multi-year Space Force contracts for LEO-based communications and sensing. The Pentagon's FY 2027 budget request carries a $17.9 billion Golden Dome line item covering advanced space-based and terrestrial sensors, command and control, kinetic interceptors, and next-generation non-kinetic programs, and SpaceX is the only operator with a proliferated LEO constellation at production scale. The fundamental backdrop supports the move: the August 4 8-K showed Q2 revenue of $7.81 billion, beating the $6.82 billion consensus by 15%, with EPS of -$0.09 versus the -$0.29 estimate, Starlink subscribers doubling to 12.0 million, connectivity revenue up 66% year over year, and enterprise and government revenue climbing 108% on airline partnerships and Starshield contracts. Traditional missile-defense primes Lockheed Martin, RTX, and Northrop Grumman all sit inside the Golden Dome supply chain for interceptors, sensors, and integration, while pure-play space names like Rocket Lab and AST SpaceMobile tend to move with SpaceX headlines; SpaceX carries a $47.50 billion backlog and $93.52 billion in cash, alongside $18.37 billion in quarterly capex, $15.83 billion of which went into AI compute, with a market cap of roughly $1.16 trillion. Even after Wednesday's rally, SPCX trades 33% below its intraday high of $226 on June 16, and the tell into the close is whether it can hold above $151 and turn the IPO open price into support rather than a ceiling, with the next Starship V3 test flight, any Pentagon follow-on Starshield task orders, and updates on the pending $60 billion Cursor acquisition expected to close in Q3 as near-term catalysts.

SpaceX stock climbed 5% to $151.12 after Barron's reported the company plans to fly Starship again on September 22, in what would be the first attempt to place the vehicle's upper stage into stable Earth orbit. The move was SpaceX-specific rather than a sector rally: Rocket Lab sat at $63.75, up 0.3%, AST SpaceMobile was at $59.27, up 0.85%, and the Procure Space ETF was up 0.8% at $43.21, while the SPDR S&P 500 ETF Trust rose 0.3% to $759.99. Starship has flown twice since SpaceX began trading in June, and both attempts stayed suborbital; reaching stable Earth orbit is the threshold at which the vehicle can begin revenue flights instead of ferrying test articles. Separately, ARK Invest founder Cathie Wood projected Starship could generate $10 trillion in annual revenue by the end of the decade and called SpaceX's $1.75 trillion valuation a bargain, a forecast that assumes essentially every flight carries Starlink capacity at a flight rate far above anything Starship has achieved. SpaceX shares remain down 7% since they began trading in June, and the September 22 attempt is the next real information point for the stock.

SpaceX's AI computing business has flipped to positive adjusted EBITDA, a shift that could help lift the company from its roughly $2 trillion market capitalization toward $3 trillion. The AI segment, the smallest of SpaceX's three businesses in 2025 at about $3.2 billion in revenue, jumped to $3.4 billion in sales by the second quarter of 2026 after SpaceX began renting out spare capacity from its Colossus supercomputer instead of using it solely to train Grok. Starlink remains the only consistently profitable segment at scale, generating $7.5 billion in revenue, or roughly 60% of the company's total, along with $2.8 billion in operating income and $4.7 billion in adjusted EBITDA through June 30, with 12 million subscribers. The space business, which includes Falcon 9 and Falcon Heavy launches, generated $1.6 billion in revenue from 78 launches in the first six months of the year but is still losing money at the operating line because Starship development is consuming billions in research and development costs. SpaceX has signed AI capacity deals including Anthropic at $1.25 billion a month for Colossus 1, Google Cloud at $920 million a month starting this fall, and Reflection AI at $150 million a month in a contract worth up to $6.3 billion, while CFO Bret Johnsen said the company is on track to reach a $100 billion annual run rate by the end of this year.

Bandwidth Inc. announced an expansion of its collaboration with Salesforce as the first certified carrier to support the global rollout of Salesforce's native Contact Center. Following the North American debut of Salesforce's AI-powered, CRM-native contact center in March, the expanded collaboration will extend availability to more than 25 countries across Europe, the U.K., Australia and New Zealand this fall, with additional markets to follow. Enterprises will connect to the contact center through a bring-your-own-carrier model using Maestro, Bandwidth's platform for intelligent, global communications orchestration, which operates within Salesforce's governed workflows. Salesforce Senior Vice President of Contact Center Gautam Vasudev cited strong customer momentum since the launch, while Bandwidth Senior Vice President and General Manager of Enterprise Ankush Gangwani said the company's Communications Cloud and Maestro make it easier for organizations to rapidly deploy the native Contact Center. Bandwidth is exhibiting this week at Dreamforce 2026 in San Francisco at booth 118.

SpaceX reported second-quarter revenue of $7.8 billion, up 92% year over year, as its artificial intelligence business now accounts for 33% of total revenue. The AI segment is built around assets of xAI, acquired earlier this year, and the company has signed a deal with Alphabet to rent computing power from its Colossus data center for $920 million per month, plus a similar AI hosting agreement worth $1.11 billion per month with an unnamed customer. The second-quarter operating loss narrowed from $1.94 billion to $143 million. The stock, which priced at $150 in its initial public offering, has traded between just under $105 and more than $225, and carries a price-to-sales ratio of 70 against an S&P 500 average of 3.8. A Bank of America survey found that 45% of fund managers see a potential AI bubble as the biggest risk facing the market right now.

Space Exploration Technologies has drifted back to roughly its opening-day level, closing at $151.21 on Sept. 11 after debuting at $150 on June 12 and peaking at $225.64 on June 16 before sliding to $108.27 on Aug. 5. Of the 41 analysts covering the stock, 76% rate it a buy, 17% a hold and 7% a sell, with 12-month price targets ranging from a low of $75 to a high of $800 and a median of $217. At the median target, a $5,000 investment made at the Sept. 11 close would be worth $7,174, a gain of 43.5%, while at the lowest target it would be worth approximately $2,479, a loss of about 50%. The company remains unprofitable, posting a $541 million net loss in its 2026 second quarter, an improvement from a $1 billion loss a year earlier, on revenue of $7.8 billion that beat expectations of $6.9 billion. SpaceX spent $18.3 billion on capital expenditures in the second quarter, $15.8 billion of it on its AI segment, and its compute-capacity deals with Anthropic and Alphabet could be worth $26 billion annually, with a separate Reflection AI deal worth $150 million per month.

Kasikorn Securities estimates that THCOM will recognise revenue of about 2.1 billion baht from the USO Phase 3 project, or roughly 80% of the project value won by the TCI joint venture. The joint venture, a partnership between THCOM and ITEL, won 2 of the 5 regions up for bid with a bid of 2.45 billion baht, against an initial project value of 5.56 billion baht. THCOM is expected to recognise about 1.2 billion baht in revenue in the first half of 2027 and to book normal profit from the project in 2027 of about 184 million baht, adding roughly 0.34 baht per share in value. However, this still cannot offset losses from the delayed launches of the Thaicom 9 and Thaicom 10 satellites, so the brokerage maintains a hold rating with a fair value of 12.47 baht. Meanwhile, Asia Plus Securities takes a positive view, raising its 2027 normal profit forecast to 729 million baht from 381 million baht, and keeping its 2026 net loss estimate at 393 million baht, with a buy recommendation and a 2027 target price of 11.80 baht, up from 11.30 baht.

Elon Musk said he is highly confident SpaceX will begin launching Nvidia-powered AI computers into orbit in 2027. The systems would use Nvidia's Vera Rubin NVL72 platform, which combines 72 Rubin GPUs with 36 Vera CPUs and advanced networking hardware, and SpaceX has already said it plans to use Nvidia chips exclusively for its computing infrastructure. The company is targeting its first orbital-computing satellites next year, with significantly larger deployments expected during 2028, by modifying the same spacecraft platform used for SpaceX's V3 Starlink satellites so that instead of communications equipment they carry computing hardware and additional solar-generation capacity. SpaceX is betting orbit could eventually provide another place to build compute as AI companies are increasingly constrained by power, land and data-center capacity on Earth. For investors, 2027 will be the first meaningful test, and if SpaceX can successfully launch and operate Nvidia-powered computing satellites, Nvidia could gain an entirely new infrastructure market while SpaceX moves closer to turning orbital AI from an engineering experiment into a commercial business.

Michael Dell's family office and Sequence Holdings teamed up to acquire Baldwin Insurance Group Inc. in an all-cash deal valued at $7.7 billion, sending shares of Baldwin, ticker BWIN, moving. SpaceX shares moved after Chief Executive Elon Musk said Sunday on social media platform X that he is "highly confident" the company will launch Nvidia's Vera Rubin NLV72 artificial intelligence computers in space next year. Oracle shares fell as Chairman Larry Ellison canceled his plan to sell as many as 50 million shares in the tech company, a holding worth $7.5 billion.

Space Exploration Technologies Corp. is increasingly leaning on the compute-renting business model as a key pillar of its drive toward a $100 billion annualized revenue run rate by the end of 2026. The latest boost came from a new hosting agreement expected to generate roughly $1.11 billion per month, or about $13 billion on an annualized basis, beginning Dec. 1, 2026. Nameplate compute capacity reached 1.4 gigawatts at the end of the second quarter and is expected to exceed 2 GW by year-end, as management aims to deploy between 5 GW and 10 GW in 2027. In addition to the latest hosting deal, the company secured a $6.7 billion cloud-services agreement earlier this year, with the six-month revenue ramp expected to begin in October. The strategy's success will depend on maintaining strong utilization while scaling infrastructure economically, and the growing contribution from a limited number of large compute customers could increase revenue concentration. Nebius Group N.V. and IREN Limited are among the other firms deploying AI compute-renting models, with IREN scaling through a multi-year agreement with Microsoft to provide NVIDIA GB300-based AI cloud infrastructure.

Symphony Communication Public Company Limited, or SYMC, has announced four core strategies to capture the megatrends of AI, data centers, and the digital economy, while maintaining its 2026 performance targets for revenue, EBITDA, and net profit to grow at double-digit levels. The company plans capital expenditure of approximately 25-30% of revenue to expand its network in support of investments by hyperscaler groups in Thailand. For its second-quarter 2026 results, the company reported total revenue of 596.2 million baht, up 11.7% from the same period a year earlier, EBITDA of 217.1 million baht, up 19.2%, and net profit of 60.0 million baht, up 49.6% from the same period a year earlier and 40.9% from the previous quarter. For the first six months of 2026, total revenue was 1,146.2 million baht, up 7.5%, net profit was 102.6 million baht, up 13.4%, and EBITDA was 417.6 million baht, up 10.4%. Domestic enterprise customers accounted for 53% of total revenue, while international services accounted for 35% of total revenue. As for its financial position as of June 30, 2026, the company's debt-to-equity ratio stood at 0.57 times and its interest-bearing debt-to-equity ratio at 0.34 times, with net cash flow from operating activities positive at 215.4 million baht. Meanwhile, an extraordinary shareholders' meeting approved entering into a long-term contract to provide Managed Connectivity services to TGCTH, with a total transaction value of more than 1,792.7 million baht, which will help increase its recurring revenue base and support long-term revenue visibility. One of the four core strategies is upgrading the MCT submarine cable system with the latest technology to support capacity of more than 30 Tbps, in order to drive the Eastern Economic Corridor toward becoming a data gateway and enhance Thailand's ability to attract investment from global technology providers, platforms, and data centers.

Thaicom Public Company Limited, or THCOM, won the auction for Phase 3 of the Universal Service Obligation project, known as USO3, in 2 of the 5 regions, with a combined winning project value of 2.45 billion baht. It won through the TCI consortium, in partnership with INTEL, according to an announcement by the National Broadcasting and Telecommunications Commission on September 11. The NBTC board approved the electronic auction process for the USO3 project, which has a project value of 5.56 billion baht, with the total auction value coming in at 5.42 billion baht, 0.6% below the proposed project value. Research from Kasikorn Securities expects THCOM to recognise revenue of 1.5 billion baht from installation work in 2027 and 824 million baht in service fees during 2028 to 2032. The installation work takes 4 quarters, starting from the first quarter of 2027 or the second quarter of 2027, accounting for 62.6% of the total project value. The service portion runs for 5 years, and the company is expected to recognise 80% of the installation work and 90% of the service portion. The research house's view is slightly positive, because the USO3 project result announcement beat the expectations of both the research house and the market, as it came amid internal conflict on the NBTC board, and it should help ease THCOM's losses during the transition from the TC4 satellite to TC9 and TC10. The project is expected to generate revenue of 1.2 billion baht, accounting for 30% of the 2027 revenue estimate, and gross profit of 184 million baht, accounting for 11% of the 2027 gross profit estimate. The research house maintains its Hold recommendation for THCOM with a target price of 12.47 baht, having calculated the present value of profit from this project at approximately 0.34 baht per share, using a WACC of 10%, and views any share price gain beyond 0.34 baht as an overreaction. It also notes that the profit share from the USO3 project is not yet enough to turn around THCOM's operating losses, which stem from delays in launching the TC9 and TC10 satellites.

Asia Plus Securities said the TCI consortium, a partnership between THCOM and Interlink Telecom, or ITEL, has won two contracts in the Phase 3 USO auction, with a combined value of 2.448 billion baht. This breaks down into a contract for the northeastern region worth 1.884 billion baht and a contract for the eastern and western regions worth 564 million baht. Asia Plus views the news as positive for THCOM because it will bring in certain revenue over the five-year life of the contracts and will increase revenue compared with the earlier Phase 1 and Phase 2 edge-network projects, under which THCOM earned only satellite transponder service fees from the auction winners since it did not bid itself. In Phase 3, however, THCOM will earn both equipment installation revenue and satellite transponder service fees. Equipment installation is expected to take about two to three months, so revenue from this project should begin to be recognised in early 2027. That said, results for the third and fourth quarters of 2026 still look weak and the company is expected to remain in the red on normal operations, as no new customers have come in while existing customers, especially broadcasting service providers, are likely to cut usage further. Given the latest auction results, in which the company won work worth more than expected, Asia Plus has raised its 2027 profit forecast for THCOM to 729 million baht from an earlier estimate of 381 million baht, and lifted its 2027 target price to 11.80 baht from 11.30 baht using a discounted cash flow method. It also upgraded its recommendation to Buy from Trading, believing the market has already priced in the negatives, including the likely weak operating performance in the second half of 2026, while the Phase 3 edge network is a positive factor that should help the company swing to a profit in 2027 and support the share price in the near term.

The National Broadcasting and Telecommunications Commission, or NBTC, said its acting secretary-general has signed the announcement of the winning bidders for the tender to provide high-speed internet services under the Universal Service Obligation project, or USO 3, covering all five groups with a combined value of 5.42 billion baht. Group 1, the northern region, was won by the TI consortium, comprising True Internet Corporation and Infraset, with the lowest bid of 1.2485 billion baht. Group 2, the northeastern region, was won by the TCI consortium, comprising Thaicom and Interlink Telecom, with the lowest bid of 1.884 billion baht. Group 3, the central region, was won by the TW consortium, comprising True Internet Corporation and Wire and Wireless, with the lowest bid of 761.5 million baht. Group 4, the eastern and western regions, was won by the TCI consortium with the lowest bid of 564 million baht. Group 5, the southern region, was won by the Interlink TKC consortium, comprising Interlink Telecom and Turnkey Communication Services, with the lowest bid of 965.7 million baht. All prices include value-added tax and all expenses. Krungsri Securities said the USO3 auction process is not yet fully complete, as it still requires official approval from the NBTC board meeting in about one month and gives interested parties the opportunity to file objections within seven business days, or by September 22, 2026, which could delay the official announcement of the winners by about two more months and push revenue recognition to around December 2026 or early next year. Krungsri Securities maintained its buy rating on THCOM with a target price of 14.7 baht and on INSET with a target price of 6.34 baht, and upgraded ITEL to buy from hold with a new target price of 2.0 baht, up from 1.5 baht.

Shares of Interlink Telecom Public Company Limited, or ITEL, Thai Com Public Company Limited, or THCOM, and Infraset Public Company Limited, or INSET, rose after the companies won the USO#3 auction project, a sub-project under the National Broadcasting and Telecommunications Commission's announcement of the lowest bidders late last Friday. The contracts have a combined value of 5.42 billion baht, covering five regions across Thailand, with THCOM, ITEL, TRUE, INSET and TKC securing contracts in the project. Most recently, ITEL shares stood at 1.66 baht, up 0.18 baht, or 12.16%; INSET shares stood at 4.54 baht, up 0.14 baht, or 3.18%; and THCOM shares stood at 10.40 baht, up 0.40 baht, or 4.00%. Krungsri Securities said THCOM and ITEL are the main beneficiaries of this project because their profits will recover from losses in 2027, or may even double. It maintained a buy recommendation on THCOM with a target price of 14.7 baht and on INSET with a target price of 6.34 baht. At the same time, it upgraded its recommendation on ITEL to buy from hold, with a new target price of 2.0 baht from 1.5 baht, based on a PBV of 0.8 times versus 0.6 times previously.

Thaicom, or THCOM, has won the auction for the Phase 3 border internet project, securing 2 of the 5 contracts on offer. A joint venture between THCOM and Interlink Telecom, or ITEL, was the winning bidder, with a combined value of approximately 2.45 billion baht out of the project's total value of about 5.4 billion baht. The awards comprise a contract for the northeastern region worth approximately 1.89 billion baht, and a contract covering the eastern and western regions combined worth approximately 564 million baht. The research division of Asia Plus Securities said the auction result is a positive factor, as it generates certain revenue throughout the 5-year contract term and exceeds the Phase 1 and Phase 2 projects, since Phase 3 includes both revenue from equipment installation and revenue from satellite channel services. Equipment installation is expected to take about 2 to 3 months before revenue recognition begins in early 2027. However, the earnings outlook for the third and fourth quarters of 2026 remains weak, and the company is still expected to post a loss from normal operations due to the higher-than-expected value of the work. The research division therefore raised its 2027 profit forecast from 381 million baht to 729 million baht, and lifted its 2027 target price from 11.30 baht to 11.80 baht, while upgrading its recommendation from Trading to Buy.

SpaceX stock could receive a much-needed boost on September 21, when a rebalancing of the Nasdaq-100 is expected to increase its index weight from 1.25% to 2.25%, potentially adding $15.5 billion in passive inflows, according to JPMorgan. The company, which went public in June 2026 at an IPO price of $135 per share and now carries a market capitalization of about $1.97 trillion, has seen its stock fall roughly 12% from its opening price of $171.74 on June 15. Investors are cautioned that more than 1 billion shares held by pre-IPO investors such as insiders, early backers, and employees are expected to become available by the end of October, with another tranche of 1.3 billion shares potentially hitting the market after third-quarter results in November, though holders may choose not to sell. Nasdaq had earlier changed its index methodology on May 1, adding a Fast Entry provision that lets newly listed companies join the Nasdaq-100 on an expedited basis if their full market cap ranks among the top 40 constituents, a move JPMorgan estimates brought about $4.3 billion in passive inflows into SPCX stock. SpaceX remains excluded from the S&P 500, which said in a June 4 press release that exceptions to financial viability, seasoning, and IWF requirements should not be granted solely based on market capitalization. For Q2 2026, SpaceX reported revenue of $7.8 billion, up 92% year-over-year, and a net loss of $541 million, improving from a net loss of $1 billion a year earlier, while holding $93.5 billion in cash and cash equivalents.

Space Exploration Technologies Corp. says a new, unnamed hosting customer will begin paying $1.11 billion per month on December 1, a $13.32 billion annualized run rate that is not necessarily a guaranteed $13 billion contract. SpaceX CFO Bret Johnsen disclosed the agreement at Goldman Sachs' September 10 technology conference, saying the deal had closed earlier that month but declining to identify the customer, capacity or full term, and describing the company's compute arrangements as roughly 90-day commitments followed by a 90-day exit period. SpaceX signed Google to a separate cloud-services agreement in June under which Google will pay $920 million per month from October 2026 through June 2029 for access to about 110,000 NVIDIA GPUs and related equipment, though either party can terminate after December 31 with 90 days' notice and Google can reduce payments or exit if SpaceX misses its September delivery requirement. SpaceX's second-quarter revenue rose more than 90% to $7.8 billion while its AI segment turned adjusted EBITDA positive, and Google Cloud revenue rose 82% to $24.8 billion in the second quarter. The bear case for SpaceX is capital intensity, hardware obsolescence and revenue concentration, since a spectacular run rate can disappear faster than a conventional multiyear backlog when cancellation rights are short.

SpaceX is set to receive a significantly larger weighting in the Nasdaq 100 later this month, a change that could trigger billions of dollars in buying from passive funds tracking the index, Bloomberg reported on Saturday. The rocket and satellite company's weighting is expected to increase to about 2.82% from roughly 1.28%, according to pro forma data from Nasdaq's Global Index Watch circulated late Friday, with the final weighting to be determined later this month. Among the largest vehicles affected is the Invesco QQQ Trust Series 1, which has about $481 billion in assets. SpaceX's relatively low weighting dates back to its addition to the Nasdaq 100 in July, when a large portion of its shares remained subject to lockup restrictions and could not be publicly traded, limiting its free float; more shares have since become available as those restrictions expire. Additional SpaceX shares are scheduled to come out of lockup, potentially increasing its free float and resulting in another rise in the company's index weighting. SpaceX shares closed at $151.21, up 2.04%, according to Bloomberg data.

Elon Musk said SpaceX has decided to build exclusively on Nvidia hardware, citing the Vera Rubin architecture as the best AI computer, during the company's second-quarter earnings call. The call was Space Exploration Technologies' first earnings call as a public company. SpaceX is using clusters of Nvidia GPUs to design orbital data centers, integrate with Starlink operations and Starship mission planning, and its near-term buzz centers on Starmind, an optimized satellite payload built on Nvidia's Vera Rubin NVL72 system. SpaceX has turned its Nvidia procurements into a fast-growing AI infrastructure business, leasing large clusters of Nvidia compute rather than using the chips solely to train its home-grown generative model, Grok. Anthropic entered a cloud services agreement with SpaceX worth $1.25 billion a month through 2029 for access to compute capacity across SpaceX's supercomputers Colossus and Colossus II, which feature roughly 325,000 Nvidia GPUs, while Google Cloud committed $920 million a month for access to roughly 110,000 Nvidia GPUs, CPUs, memory, and related networking kits through the middle of 2029, and Reflection AI signed a multiyear deal worth up to $6.3 billion to access Nvidia GB300 chips at a reported $150 million per month. Nvidia's data center revenue reached $89 billion in the second quarter, up 117% year over year, compared with AMD's $6.7 billion in data center sales, an increase of 107% year over year.

SpaceX is set to receive a larger weighting in the Nasdaq 100 later this month, a change that could trigger billions of dollars of buying by passive funds tied to the benchmark. Based on pro forma data from Nasdaq's Global Index Watch circulated late Friday, its weighting is expected to rise to about 2.82% from roughly 1.28%, with the final weighting to be determined later this month. The relatively small weighting dates to SpaceX's addition to the gauge in July, when most of its shares were still locked up and unavailable for public trading, limiting the weighting it received even after Nasdaq changed its rules to allow newly listed large-cap companies to enter sooner and eliminated a requirement that at least 10% of their shares be publicly tradable. As those lockups expire, more SpaceX shares are becoming available for trading, increasing the company's free float and potentially lifting its index weighting again, with additional shares scheduled to come out of lockup. A higher weighting matters because passive funds tied to the benchmark must adjust their holdings accordingly, including the $481 billion Invesco QQQ Trust Series 1, known as QQQ, with roughly $1.7 trillion in assets tracking the Nasdaq 100 as of the end of the second quarter, according to Nasdaq.

Jim Cramer picked Space Exploration Technologies Corp. as his fantasy flex player on the September 8 episode of Mad Money, citing the company's multi-faceted growth across rockets, Starlink and AI. SpaceX reported second-quarter total revenue of $7.8 billion, up over 90% year-over-year and beating Wall Street estimates by nearly $1 billion, with a Q2 GAAP EPS of -$0.09 that also outperformed estimates. The connectivity segment, supported by Starlink, reached 12 million subscribers, while enterprise and government demand pushed segment revenue higher, and the stock trades at roughly 50x to 68x forward sales estimates with a market capitalization hovering near $2 trillion. The company still reported a net loss of $541 million for the quarter, with quarterly capital expenditures running at nearly $18.4 billion to fund Starship manufacturing and orbital compute infrastructure alongside Connectivity and Space operations. Insider Monkey's database of over 1000 hedge funds shows 119 hedge funds held SpaceX during Q2, with VY Capital holding the most prominent position at 271.8 million shares, followed by BAMCO Inc. with nearly 145.8 million shares.

The NBTC has announced the winners of the tender for high-speed internet services under the USO 3 project in all five regions, awarded through e-bidding with a combined value of 5.4237 billion baht. Triarat Viriyasirikul, deputy secretary-general of the NBTC and acting secretary-general, signed the announcement on 11 September 2026. For Region 1, the North, the TI joint venture, made up of True Internet Corporation, a subsidiary of True Corporation, and Infraset, won with the lowest price of 1.2485 billion baht. Region 2, the Northeast, went to the TCI joint venture of Thaicom and Interlink Telecom at 1.884 billion baht. Region 3, the Central region, was won by the TW joint venture of True Internet Corporation and Wire and Wireless at 761.5 million baht. Region 4, the East-West region, went to the TCI joint venture of Thaicom and Interlink Telecom at 564 million baht, and Region 5, the South, was won by the Interlink TKC joint venture of Interlink Telecom and Turnkey Communication Services at 965.7 million baht. All prices include value-added tax and all expenses. Counting only the work won by the Thaicom and Interlink Telecom joint venture in Regions 2 and 4, the combined value comes to 2.448 billion baht, while True has a share in two contracts through its subsidiary worth a total of 2.01 billion baht, and Interlink Telecom is also partnering with Turnkey Communication Services in the South for another 965.7 million baht.

The NBTC has announced the winners of the tender for high-speed internet services under the USO 3 project across all 5 packages, held via e-bidding, with a total value of 5.42 billion baht. Trairat Viriyasirikul, Deputy Secretary-General of the NBTC and Acting Secretary-General, signed the announcement on 11 September 2026. For Package 1, the North, the TI joint venture, comprising True Internet Corporation Limited under the TRUE group and Infraset Public Company Limited, or INSET, submitted the lowest bid at 1.25 billion baht. Package 2, the Northeast, was won by the TCI joint venture, comprising Thaicom Public Company Limited, or THCOM, and Interlink Telecom Public Company Limited, or ITEL, at 1.88 billion baht. Package 3, the Central region, was won by the TW joint venture, comprising True Internet Corporation Limited and Wire and Wireless Company Limited, at 761.5 million baht. Package 4, the East-West region, was won by the TCI joint venture of THCOM and ITEL at 564 million baht. Package 5, the South, was won by the Interlink TKC joint venture, comprising ITEL and Turnkey Communication Services Public Company Limited, or TKC, at 965.7 million baht. All prices include value-added tax and expenses. The project covers the North, Northeast, Central, East-West and South regions to provide high-speed internet services in areas that lack or still have inadequate service, supporting public health, the public interest and security.

SpaceX has signed an AI hosting agreement worth about $1.11 billion a month, roughly $13 billion a year at the initial rate, with the deal beginning Dec. 1. The rocket and satellite company behind Starlink and Starship said the contract gives management more confidence that SpaceX can exit the year at a $100 billion annual recurring revenue run rate. SpaceX expects to finish the year with a little more than 2 gigawatts of terrestrial computing capacity and wants to reach 5 to 10 gigawatts next year, using Nvidia processors, with current hosting agreements generating roughly $30 to $50 in revenue per watt. Many hosting contracts run for only about six months, and SpaceX eventually wants some of that computing capacity for its own products, while it pursues the larger bet of putting AI computing in orbit. The new contract matters to investors because it gives SpaceX cash while that orbital plan develops, with the next test being whether the short-term hosting deals can become a durable business and whether Starship can eventually make orbital computing economically viable.