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SpaceX AI Unit Signs $3.4 Billion Monthly Compute Deals After Burry Doubted $1 Trillion Valuation
SpaceX's AI computing division has signed a string of major customer contracts worth a combined $3.4 billion per month, or $40.8 billion annually, after Michael Burry argued the company's IPO filing justified nothing close to a $1 trillion valuation. Anthropic agreed to pay SpaceX $1.25 billion per month for computing power, while Alphabet's Google signed a deal worth $920 million monthly, with Reflection AI and a still-unidentified customer adding another $150 million and $1.11 billion per month respectively. The contracts follow Burry's criticism of the company, which went public at $1.8 trillion in the largest debut in history, as a mix of a small space business, a niche telecom business, a struggling social media platform and "CoreWeave-light." SpaceX spent $15.8 billion on AI infrastructure in the second quarter alone and the division remains unprofitable, while the leases carry unusually short 90-day termination provisions that give customers an easy exit. Burry's broader argument that AI compute will eventually be commoditized still stands, and SpaceX's space launch business and Starlink must also succeed to justify its current $2 trillion price tag.
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Alibaba Unveils Zhenwu V900 AI Chip, Expands Qwen and Global Cloud Push
Alibaba is expanding across the AI stack, from its Qwen models and proprietary chips to cloud infrastructure and overseas markets, as it prepares for a larger role in the global AI race. The company is already working on Qwen 4, while future versions like Qwen 5 are designed to scale up to 10 trillion parameters, and the Qwen 3.8-Max model has gone through 33 rounds of recursive self-improvement. Alibaba unveiled its Zhenwu V900 accelerator, calling it China's most powerful AI accelerator, with commercial use expected in 2027. Alibaba Cloud is expanding internationally with new data centers planned in Turkey, Finland and the Netherlands, plus added capacity in Malaysia, Germany, the UAE, France and Hong Kong, building on its current 107 availability zones across 31 regions. According to Gartner, BABA was the world's fourth-largest cloud IaaS provider by revenues in 2025, behind Amazon, Microsoft and Google, and the largest in Asia-Pacific with a 22.5% regional market share, while AI-related products have maintained triple-digit year-over-year growth for 12 straight quarters and now account for more than one-third of Alibaba Cloud's external revenues. Alibaba is working through a RMB380 billion, three-year investment plan, with about RMB190 billion spent by the June quarter, and the Zacks Consensus Estimate for BABA's fiscal 2027 and 2028 EPS implies year-over-year growth of roughly 67% and 40%, respectively, though the stock remains a Zacks Rank #3 (Hold).
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THG Lists IDTrust on IBM Cloud Catalog in Global Partnership
The Hashgraph Group, or THG, announced that its IDTrust self-sovereign identity platform has been validated and officially listed on the IBM Cloud Catalog, making it among the first commercial Hedera-powered enterprise applications directly purchasable as a SaaS product through a major cloud marketplace. THG also qualified for IBM Silver Partner status and signed a global Embedded Solution Agreement with IBM covering Cloud and AI technology, a licensing and partnership agreement that lets technology partners integrate IBM technology into their own proprietary products to sell a complete, single-branded solution. IDTrust is a decentralized self-sovereign identity platform with enterprise-grade cryptography for AI agents, devices, and humans, already deployed with a leading European telecoms operator to power verified caller identity, and it provides decentralized identifiers and verifiable credentials built on open W3C standards and designed to support the EU eIDAS 2.0 framework. The listing comes as Gartner projects that 40% of enterprise applications will embed task-specific AI agents by the end of 2026, up from less than 5% in 2025, and as Know Your Agent moves from a theoretical concern to an enterprise priority. For Hedera Hashgraph, the listing represents a significant distribution milestone, since IBM has been a member of the Hedera Governing Council since 2019 and enterprise clients can now purchase Hedera-anchored identity infrastructure through existing IBM consumption commitments.