SpaceX is being discussed as undervalued ahead of what the hosts call the biggest IPO in history. The episode centers on Starlink's explosive subscriber growth, SpaceX's current valuation, and a specific strategic pivot: space-based AI data centers. That last item is not speculative. Musk has publicly outlined plans to put compute infrastructure in orbit, removing terrestrial land, power, and cooling constraints entirely.
OpenAI's reported gigawatt-scale data center deal and S-1 filing get coverage, as does Anthropic's Claude 4 model and its safety positioning. Apple's WWDC Siri updates round out the AI news cycle. The episode is worth reading in full for the hardware scaling section at 14:26, where the hosts make a specific argument about why orbital infrastructure changes the cost curve for AI compute in ways ground-based buildouts cannot match.
The investment framing is explicit: this is a pre-IPO analysis, not a recap. The hosts are Josh Kale and Ejaaz, publishing under the Limitless banner via Bankless. The disclosures link is in the description. If the space-based data center thesis holds, the valuation math on SpaceX changes significantly, and that argument is laid out in the first 22 minutes.
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