Hyperliquid's policy group wants perps under MiFID II, while Circle targets MiCA's bank deposit floor in filings to the European Commission's MiCA review.
When Space Exploration Technologies(NASDAQ: SPCX) debuted this past June, it drew significant investor attention. While the stock traded like a roller coaster in the early days, it has settled into a fairly narrow trading range over the past month. This makes now a great time to evaluate what the future could hold for this visionary company. At its current price of around $151, a $10,000 initial investment would buy you around 66 shares.
Over the next several years, SpaceX's growth will likely be driven by its AI computing leasing business and its satellite internet business, Starlink. SpaceX has been investing aggressively in building out its AI infrastructure, and it's basically created its own neocloud unit that rents out its excess compute power. As a bridge provider of compute power in a world with an insatiable appetite for it, SpaceX has been getting incredible short-term rates.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again.In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
This is leading to strong returns for the business, with SpaceX saying it is getting a payback on its AI infrastructure investments in about a year. It recently signed a $1.1 billion per month compute deal, and said that it could potentially double the number of graphics processing units (GPUs) installed in its Colossus 2 supercomputer by year's end. Analysts see big upsides from these investments: Evercore projects that this investment could push SpaceX's AI solutions and infrastructure revenue to $83 billion in 2027, versus the $47 billion consensus. TD Cowen, meanwhile, projected that SpaceX will lease out up to 49% of its AI computing capacity through 2031.
Starlink also remains a growth driver. This is a great recurring revenue business, and it's growing quickly. Last quarter, the segment's revenue surged 66% year over year to $4.3 billion, while its number of subscribers doubled to 12 million. It continues to have a large opportunity, including in the consumer, enterprise (airlines and mobile partnerships), and government sectors.
Beyond these two businesses, the picture gets both murkier and more exciting. The company just completed the 14th test flight of its Starship rocket, which could be the gateway for it to generate significant other revenue streams, including from data center satellites in Earth orbit. It's also working with Nvidia on AI infrastructure that can withstand the rigors of space. The optionality of these potential ventures should keep the stock's valuation multiples high.
Image source: The Motley Fool.
What a $10,000 investment could be worth in 2035
By 2035, analysts anticipate that SpaceX will produce nearly $2.25 trillion in annual revenue and be highly profitable, generating adjusted earnings per share (EPS) of $41.24. Now, the further out you go, the more variables there are, and that is reflected in analysts' revenue estimates, which range from $1 trillion to slightly over $3 trillion.
When it comes to the question of how the market might be valuing SpaceX at that point, we can look to Musk's other public company, Tesla, for hints. In the first half of 2020, it traded at price-to-sales (P/S) ratios in the 3 to 8 range. Using the low and high ends of analyst revenue forecasts and Tesla's historical multiple range would value SpaceX at a market cap between $3 trillion and $24 trillion. Based on the $2.25 trillion consensus, meanwhile, it would be valued between $6.75 trillion and $18 trillion.
Given that SpaceX's future revenues will be highly dependent on it making considerable capital expenditures up front, we should assume there will be share dilution along the way. Let's assume the company's diluted share count will increase 1% a year (between capex and share compensation) to around 14.4 billion. That would value its stock at between $210 and $1,670 using the low and high ends of analyst estimates and Tesla's multiple. Using just the consensus revenue estimate, the stock would trade between $470 and $1,250.
That's a wide range, so if we want to just take the consensus and use a reasonable P/S multiple of 5, the stock would trade at around $780. That's over a fivefold increase from current prices, turning a $10,000 investment into around $51,500.
Now, SpaceX is going to have to execute, and there are a wide variety of outcomes, but it looks like this AI stock has plenty of long-term upside from here.
Should you buy stock in Space Exploration Technologies right now?
Before you buy stock in Space Exploration Technologies, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Space Exploration Technologies wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
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Geoffrey Seiler has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Evercore and Tesla. The Motley Fool has a disclosure policy.
A Connecticut hotel management company has disclosed a data security incident that may have exposed Social Security numbers, financial details and medical information.
Waterford Hotel Group, LLC and LMD Holding Company, LLC say they identified suspicious activity on certain computer systems on May 5th of 2026, then confirmed that an unknown actor gained access and was able to view or download data.
The types of information on the impacted systems vary by person and may include names, driver’s license numbers, Social Security numbers, passport numbers, taxpayer IDs, financial account information, payment card details, usernames and passwords, medical information and health insurance information.
Waterford says there is no indication of any actual or attempted identity theft or fraud tied to the event.
The company posted an official notice and said it notified potentially affected people after finishing its review of what was impacted.
Waterford encouraged people to review account statements and credit reports for suspicious activity and to promptly report anything unusual to their bank or card issuer.
People seeking more information can call 1-888-940-9724.
Waterford Hotel Group is a hospitality management firm based in Waterford, Connecticut.
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Co-author Jérôme de Tychey said industry participants and core contributors convinced him a scoping process was the wrong venue for an issuance change.
A Connecticut bank customer has lost $89,000 after someone allegedly completed an unauthorized in-person wire transfer from his account.
Westport police charged a 38-year-old Brooklyn, New York man in the case, reports Patch.
John Hammonds, 38, was arrested Monday on first-degree larceny and third-degree identity theft charges and remains in custody in lieu of $70,000 bail.
Police say the victim’s bank alerted him that someone made an unauthorized in-person wire transfer of $89,000 from one of his accounts to an unaffiliated account in January of 2025.
Investigators identified Hammonds as a suspect after Westport police said he conducted the transaction at an M&T Bank branch in New York while representing himself as the victim.
Westport police obtained an arrest warrant, and on August 20th the department was notified that New Jersey authorities held Hammonds and planned to extradite him to Connecticut on unrelated charges.
After extradition, Westport detectives charged him and he was arraigned in Stamford Superior Court, with his next court date set for November 9th.
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Customers at a lender in Wyoming are still seeing surprise pending charges and balances that do not match a week after accounts came back from a cyberattack.
Hilltop Bank restored personal systems after an outage tied to the incident, but delayed transactions from that stretch are still posting, reports Cowboy State Daily.
Alyssa Schwindt of Casper said $519 in pending charges to her cellphone provider, AutoZone and Walmart showed up even though she had already paid those bills.
She tried to withdraw $1,500 for rent and was told only about $1,100 was available because of those floating transactions.
Annastacia Potter of Glenrock said a backlog of charges hit after the systems returned, leaving her husband unable to pay for a meal on the road, and that the bank canceled payments to wedding vendors.
Hilltop spokesman Bill Salvin said the charges were delayed in posting but should not have been a surprise.
“The charges were delayed in posting to accounts. However, they should not have been unanticipated.”
Salvin said customers who kept accurate records have not been affected, and the bank has no evidence customer data was compromised after the systems were restored.
The outage began on September 8th of 2026. Personal mobile banking returned on September 21st. Full personal systems came back on September 22nd.
The bank says it will work with overdrawn customers and reimburse late fees.
Its last update, on September 24th, said no further updates were expected now that systems are up.
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Panasonic has taken the wraps off two new micro hi-fi systems – one for bigger rooms and budgets, and a smaller, more affordable option.
The SC-PMX112 is the bigger of the two, packing 180W of power from its 13cm full-range drivers, as well as internet radio, Spotify Connect compatibility and a range of digital and physical inputs.
The combination of drivers, dedicated tweeters and bass reflex ports promises "clear vocals, detailed high frequencies and powerful bass". You can also choose from five presets on the EQ, if you want a different sound profile.
The wooden speaker cabinets might suggest a retro approach, but the system has dual-band wi-fi, with compatibility with Spotify Connect and internet radio. There's also Bluetooth for more localised wireless playback, DAB+ and FM radio, and it plays CDs and files via USB. You can also hook up other devices via an optical input and 3.5mm line input, plus there are outputs for a subwoofer and a pair of wired headphones, both of which will widen your listening options.
(Image credit: Panasonic)
The smaller SC-PM302 offers 60W RMS stereo sound, with the same CD and USB playback alongside Bluetooth, DAB+ and FM radio. It still has an optical in and line in, but lacks the headphone and subwoofer outputs of its bigger brother.
It has 10 cm full-range speakers and wooden-cabinet housing. Its colour TFT display is a little smaller than its stablemate's (2.4 inches to 2.8 inches). Both systems come with a remote control.
Both ship this month – they're currently listed as 'coming soon' on the Panasonic website. The SC-PMX112 costs £270 (around $350 / AU$500) and the SC-PM302 £120 (around $160 / AU$230).
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