Research Feed

Aaron and Vlad break down the Anthropic-SpaceX-Colossus news and lay out the thesis: this deal resolves the SpaceX-AI hyperscaler question by giving the orbital compute business a clear, modelable revenue line. We frame it through the Falcon 9 / Starlink analogy, with Anthropic sitting in the customer bucket and a probable Cursor acquisition slotting in as the orchestration layer above Grok, and discuss what it means for the SpaceX IPO narrative. We also cover three other items: the rumored 136,000-acre SpaceX land buy in Louisiana for Starship and sun-synchronous launches, ST Microelectronics guiding to 200 million LEO terminals by 2030 (back-solving to roughly $120B in annual revenue at conservative ARPU), and our weekly analysis of last week's FCC EPFD vote and what 7x actually means for V3 Starlink capacity.

How the FCC's January 9 waiver, the new performance-based rule passed on April 30, and SpaceX's next-gen satellite (V3) combine to unlock an addressable U.S. broadband market of approximately 117 million households for Starlink across various population density scenarios.