Analysis & Insights
Curated data and analysis on the trends shaping the space economy.
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Breaking Down the AI Revenue Stack: SpaceX's Three Capture Models
May 13, 2026
What is one gigawatt of AI compute worth in annual revenue, and how does that dollar distribute across the value chain that produces it?At NVIDIA's GTC 2026 keynote in March, Jensen Huang offered a formula that restructured how AI businesses shoul...
The AI Revenue Stack and How SpaceX Is Playing It | Mach 33 Private Podcast Ep. 4
May 12, 2026
Episode 4 of the Mach 33 Private Podcast introduces a new framework for the AI revenue stack, sizing it at roughly $41.6 billion per gigawatt of compute split across five layers (energy, chips, infrastructure, models, orchestration), with models t...
FCC EPFD Ruling Implications: How It Raises the Roof for V3
May 06, 2026
On April 30, 2026, the Federal Communications Commission (FCC) unanimously voted to replace its twenty-six-year-old satellite interference rules. The vote ended the regulatory regime, originally set at the International Telecommunication Union's 2...
The Anthropic-Colossus Deal: SpaceX's Hyperscaler Question Answered | Mach 33 Private Podcast Ep. 3
May 05, 2026
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 / S...
Orbital Data Centers Report: The Comprehensive Institutional Analysis
April 29, 2026
The U.S. grid is the binding constraint on AI compute. PJM’s December 2025 capacity auction failed to procure 6.6 GW of needed supply, the first procurement failure in the operator’s history. The deficit compounds at 2× through 2032. Transformer l...
Orbital Data Centers: Why Compute Is Going to Orbit | Mach 33 Private Podcast Ep. 2
April 28, 2026
Aaron and Vlad walk through our new 80-page Orbital Data Center report and lay out the thesis: terrestrial power constraints push compute off-planet, and orbital costs cross terrestrial costs between 2029 and 2032. We cover the triangular bottlene...
Amazon buys Globalstar: The Second Hyperscaler to Price the Telecom Inversion
April 22, 2026
On April 14, 2026, Amazon announced an $11.6 billion enterprise valuation acquisition of Globalstar at $90 per share, with up to 40% payable in cash. The transaction absorbs Globalstar’s Mobile Satellite Services spectrum into the Amazon Leo const...
Amazon–Globalstar, Starlink Scale, New Glenn Setback, and SpaceX–Cursor Talks | Mach 33 Private Podcast Ep. 1
April 21, 2026
In this week’s private briefing, Mach33’s research team breaks down the developments shaping the space economy and adjacent deep technologies, with a focus on what matters most for investors.We cover Amazon’s reported acquisition of Globalstar and...
How Much Revenue a Gigawatt of Compute Earns in Orbit
April 15, 2026
For the past several months, we have built the engineering and cost case for orbital datacenters from first principles: launch mass economics, thermal rejection in vacuum, solar array sizing, and the Wright's Law curves that govern each subsystem....
The Case for Solar-Thermal Propulsion: Why We Led Portal's Series A
April 09, 2026
SummaryIn the last 18 months, operators have filed for more than 1.2 million satellites, an 80× increase over the ~15,000 active today. SpaceX filed for one million orbital data center satellites in January. Starcloud filed for 88,000. Blue Origin...