In an exclusive interview with CNBC after SpaceX’s impressive Nasdaq debut, Shotwell emphasized that investors should see the company as more than just a space and satellite entity as it delves deeper into AI infrastructure.
“Absolutely. We are builders,” Shotwell replied when asked if SpaceX should be perceived as a competitor in the emerging AI cloud and computing market.
“We create our own launch vehicles, establish our launch sites, and are building data centers, both on land and, shortly, in orbit. Therefore, I regard us as an infrastructure company,” she added.
Her comments provide one of the clearest insights into SpaceX’s strategy to utilize its satellite network and expanding AI initiatives to break into a market currently led by major tech companies heavily investing in data centers and computing power.
Shotwell’s comments follow Elon Musk’s introduction of the AI-1 data satellite program. She indicated that SpaceX plans to launch the complete AI-1 satellites by late next year but will first deploy computing capabilities on existing Starlink broadband and Starlink Mobile satellites.
“I anticipate we will be launching the complete AI-1 satellites late next year, but we will begin integrating compute capabilities onto some of the Starlink broadband and Starlink Mobile satellites before that,” Shotwell remarked.
The company aims to test the technology prior to extensive implementation. “We want to ensure we fully understand the operation. We enjoy conducting canary tests and preliminary experiments before deploying the final version,” she said.
Shotwell also indicated that SpaceX feels confident in competing in the AI infrastructure space without needing to match the capital expenditures of certain competitors.
“I believe our use of computing resources is quite efficient, so I don’t expect us to be required to spend nearly as much capex as they are,” she noted, referring to companies aggressively investing in AI computing and model development.
The executive pointed out Starship development, as well as the expansion of Starlink’s consumer, enterprise, and mobile segments, as key areas for investors to watch after the company’s public market debut.
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SpaceX began trading on the Nasdaq on Friday under the ticker SPCX, marking the largest initial public offering ever and one of the most anticipated market debuts in recent memory.
The shares opened at $150 and surged throughout the session, reaching $166.90 around 12:20 pm ET. At that point, the company was valued at approximately $2.18 trillion, with Forbes estimating Musk’s net worth at around $1.1 trillion.
