周观点：SpaceX申请部署百万颗卫星，剑指太空算力-20260201

Investment Rating - The industry investment rating is "Positive" (maintained) [3] Core Insights - SpaceX has submitted a groundbreaking plan to deploy up to 1 million satellites, aiming to dominate the low Earth orbit satellite resource competition [6][12] - The satellite deployment plan is not merely an expansion of communication satellites but is primarily aimed at establishing a large-scale orbital data center system to support AI model inference, machine learning, and edge computing applications [7][13] - The competition for low Earth orbit resources is intensifying, with countries racing to secure satellite frequency resources under the "first come, first served" rule established by the International Telecommunication Union [6][12] Summary by Sections Industry Overview - SpaceX's plan includes deploying satellites at altitudes between 500 km and 2000 km, with each orbital layer controlled within 50 km to ensure safety intervals for other potential systems [6][12] - China's application for over 200,000 satellite frequency resources highlights the growing global competition in low Earth orbit [6][12] SpaceX's Satellite Deployment Plan - The satellites will utilize solar energy and be interconnected with the Starlink constellation to facilitate efficient data transmission with low latency [7][13] - SpaceX is in discussions for a potential merger with xAI, aligning with its strategy to integrate AI research with space-based systems [7][13] Investment Recommendations - The report expresses strong optimism for the commercial aerospace technology and capital resonance in 2026, recommending attention to the rocket industry chain and specific companies such as Western Materials, Aerospace Power, and others [8][14] - For the satellite industry chain and space computing, companies like Zhongke Xingtu, Aerospace Hongtu, and others are highlighted as beneficiaries [8][14] - In the space energy sector, companies such as Maiwei Co., JunDa Co., and others are recommended [8][14]