SpaceX is building gigawatt-scale data centers in about five months, and it's absolutely wild.
Mini Hard went from location + building to chips + everything done in roughly three months (finished by November). Macro Harder barely made local news in early September and is due December, worst case January. That's 220,000 B300s in four to five months.
For context: Colossus 1 took Jensen a year for 100,000 chips. Everyone else still talks in two-to-four-year builds.
Chips are about 80% of the CapEx, so finishing the shell first and dropping GPUs in the month before revenue starts completely changes the financing picture.
Deutsche Bank has the two newest leases at $60–61B per GW per year—not down. Anthropic deals with SpaceX nearly doubled to about $84B, so over half of their ARR rides on SpaceX capacity.
Speed is the moat. $50–60B per GW only works if you can actually stand the plant up that fast.
$SPCX
Mini Hard went from location + building to chips + everything done in roughly three months (finished by November). Macro Harder barely made local news in early September and is due December, worst case January. That's 220,000 B300s in four to five months.
For context: Colossus 1 took Jensen a year for 100,000 chips. Everyone else still talks in two-to-four-year builds.
Chips are about 80% of the CapEx, so finishing the shell first and dropping GPUs in the month before revenue starts completely changes the financing picture.
Deutsche Bank has the two newest leases at $60–61B per GW per year—not down. Anthropic deals with SpaceX nearly doubled to about $84B, so over half of their ARR rides on SpaceX capacity.
Speed is the moat. $50–60B per GW only works if you can actually stand the plant up that fast.
$SPCX