Space Exploration Technologies Corp. | North America

研报英文原文证据摘录

Space Exploration Technologies Corp. | North America

IdeaMlabs with ability to shift to internal model training or end-to-end enterprise AI as

Cursor scales.

Speed. Moving an order of magnitude faster than competitors (when needed).

Example: Experience with local power/electric utility authorities at Tesla + in-house

contractor capability enable SpaceX able to bring to market hundred-megawatt

scale in 90 days - nearly 8x faster than industry benchmarks. We should mention

that 'Speed' in our DVFS framework doesn't always mean fastest. Think of 'Speed' as

the ability to toggle strategy and execution to the correct velocity at the right time.

In some situations that may mean faster. In other situations that may mean slower.

Matching velocity with mission dynamically is the key.

A note on vertical integration.

• 80% of Starship is made in-house

• SpaceX manufactures Starlink satellites and user terminals, builds much of

its ground infrastructure, produces battery systems, and is expanding into in-

house production of certain Starship propellants

• SpaceX's Bastrop, TX facility is the largest printed circuit board (PCB)

manufacturing facility in the US

• SpaceX is expected to break ground on a foundry to make vanes and blades

for nat gas turbines

• SpaceX is building an 11-million-square-foot “Gigasat” factory in Bastrop,

Texas, to vertically integrate and mass-produce AI satellites, including solar

cells, electronics, communications hardware and complete spacecraft

targeting production equivalent to 1 GW of orbital AI compute annually by

late 2027.

• SpaceX and Tesla are planning Terafab, an integrated semiconductor-

manufacturing project expected to include chip fabrication, lithography,

memory, packaging, and testing to produce 1TW of chips/year