这里提到的低轨道卫星星座，就是跟马斯克Space X公司星链相同的卫星系统。 吃到星链的甜头后，日本也准备搭建自己的天基互联网。在2025财年补充预算中，日本列出了1500亿日元，也就是超过66亿元人民币的巨款，用来打造自己 的"星链系统"。 2025年3月31日，日本国会通过了2025财年的预算案，其中防卫预算高达8.7万亿日元，再次创下历史新高。其中最值得注意的，是有一笔2833亿日元的巨 款，用于"构筑（低轨）卫星星座"。 而根据2026年1月7日的报道，日本在补充预算中，又提出了1600亿日元的费用，用于推动利用低轨道卫星星座实现国内自主控制的通信服务。 截至目前，星链已经有差不多10000颗卫星在轨了，其作用就是给地面提供网络系统。可能你要问了：现在上网这么方便了，为什么还要搞个天基互联网 呢？ 答案很简单，因为天基互联网有独特的优势： · 覆盖范围广：地球上无论海洋、高山还是偏远地区，这些平时网络信号覆盖不到的地方，都可以通过天基系统接入网络，不再受地面基础设施建设限制。 · 通信延迟低：相比地球静止轨道卫星（高度大约是36000公里），低轨卫星更接近地面（只有几百公里），信号往返时延显著降低，适 ...

Core Viewpoint - SpaceX's IPO plan may challenge the long-held "Musk premium" associated with Tesla stock, potentially reallocating funds that were previously concentrated in Tesla due to investor support for Musk's vision rather than the automotive business itself [1][2] Group 1: Tesla's Current Situation - Tesla's stock price has increased nearly 20% in the past month and has a year-to-date gain of over 27%, with a forward P/E ratio of approximately 220, ranking second among S&P 500 constituents [1] - Despite the rising stock price, Tesla faces concerns regarding slowing sales growth and declining profitability, compounded by a tightening regulatory environment and reduced consumer spending on automobiles [5] - Analysts express skepticism about Tesla's current valuation, with some stating it lacks fundamental support, leading to significant sell-offs by certain investment firms [5] Group 2: Impact of SpaceX's IPO - The potential IPO of SpaceX is expected to exert selling pressure on Tesla's stock, as some investors primarily hold Tesla shares to gain exposure to Musk's vision rather than its automotive business [6] - Conversely, historical trends suggest that significant milestones for Musk's companies can enhance market sentiment for related firms, potentially attracting more investors to the ecosystem [6] - Analysts note that Tesla's stock price has already been influenced by expectations surrounding SpaceX's IPO, highlighting strategic synergies between the two companies, such as Tesla's Optimus robot aiding Mars colonization and SpaceX's Starlink enhancing vehicle connectivity [6]

随着SpaceX推进IPO计划，特斯拉股票长期以来享有的独特"马斯克溢价"或面临挑战。此前，投资者仅能通过持有特斯拉股票来间接参与马斯克 的科技愿景，而SpaceX的上市可能引发市场对"马斯克概念"资金的重新配置。 估值泡沫引发质疑 据彭博报道，SpaceX正计划进行内部股份出售，公司估值有望达到8000亿美元，将成为全球估值最高的未上市公司，其后续IPO亦可能创下历史 规模纪录。分析人士指出，SpaceX的上市或将对特斯拉股票形成一定的资金分流压力，部分持有特斯拉的投资者实则是基于对马斯克个人及其愿 景的认同，而非单纯看好其汽车业务。 值得注意的是，特斯拉股价在过去一个月已上涨近20%，年内累计涨幅超过27%。目前，特斯拉的远期市盈率（基于未来12个月预期收益）已升 至约220倍，在标普500指数成分股中排名第二，仅次于华纳兄弟。 投资者对SpaceX上市的影响看法不一。部分观点认为，新上市标的将直接分流原本集中于特斯拉的资金；也有分析指出，马斯克旗下公司的重要 里程碑事件，往往能够形成协同效应，提振关联企业的市场情绪与关注度。 尽管股价持续攀升，特斯拉的基本面表现却引发市场隐忧。公司正面临销售增速放缓、盈 ...

Core Viewpoint - President Trump's recent executive order aims for a return to the Moon by 2028, establishing a vision for the U.S. to lead in space exploration, security, and commercial sectors [2][3]. Group 1: Space Exploration Initiatives - The executive order mandates the return of Americans to the Moon by 2028 and the establishment of initial facilities for a permanent lunar outpost by 2030, including the deployment of nuclear reactors on the Moon and in orbit [2][3]. - The order is designed to upgrade launch infrastructure and develop commercial pathways to replace the International Space Station by 2030, stimulating innovation and investment in the private sector [2][3]. - Following the announcement, U.S. commercial space stocks saw significant gains, with Rocket LAB USA rising over 11%, AST SpaceMobile increasing by 6.58%, and Howmet Aerospace up by 3.56% [1]. Group 2: NASA Leadership Changes - The Senate confirmed billionaire astronaut Jared Isaacman as the 15th Administrator of NASA, a position he was previously nominated for by Trump [2]. - Isaacman, known for his role in commercial space missions, is expected to positively influence U.S. commercial space companies like SpaceX [3]. Group 3: Defense Authorization Bill - Trump signed a $901 billion defense authorization bill for fiscal year 2026, which includes measures to increase military personnel salaries and support border security initiatives [4]. - The bill also allocates $400 million annually for military aid to Ukraine over the next two years and includes provisions to enhance missile defense systems [4].

星链系统的确具备颠覆传统通信的优势。它通过数千颗低轨卫星编织成网，能为偏远地区提供高速网络，速度可达220Mbps，延迟仅20-50毫秒。 但它的可靠性并非无懈可击。可谓一场"全球大停机"，7月24日一时的核心软件故障，就让全球6.1万的用户都"断网"了整整2.5个小时，连乌克兰前线部队的 指挥系统也都"没了脉"！这让不少人都感叹了，一个软件的失常就能把全球的互联网都给"瘫"了！ 2025年底，东南亚边境地带的电诈窝点遭遇了一场无声的"数字地震"。伴随马斯克旗下的太空探索技术公司的突然远程切断了缅甸与柬埔寨的2500台星链设 备的服务，原本依托卫星网络实施的诸多"高科技"的骗局也就瞬间陷入了彻彻底底的瘫痪之中。 SpaceX业务运营副总裁劳伦・德雷尔公开证实，公司通过主动监测技术识别并禁用了这批设备，理由是打击跨境犯罪。 然而，这一表面上的"大快人心"的举动却又揭露了更为深远的隐忧：一家私营的跨国企业居然能够如此肆无忌惮地跨越国家的界限、不经当地的政府的同意 就能够对某一特定的区域的网络的存亡都下死命令。 这并非星链首次展示其"生杀大权"，早在2022年乌克兰反攻赫尔松期间，星链服务曾被曝出在关键战区突然中断 ...

这一上涨证明了华尔街对马斯克人工智能雄心的信心，尤其是在特斯拉核心的汽车业务举步维艰的情况 下。但这同时也导致特斯拉股价变得极为昂贵。按未来12个月盈利计算，其市盈率达214倍，为标普500 中第二高，仅次于华纳兄弟探索公司，远高于排名第三的Palantir Technologies Inc． —— 截至周三收 盘，Palantir的远期市盈率为178倍。 "这个估值完全不合理，"First New York投资组合经理兼宏观交易员Vikram Rai表示。马斯克和总统唐纳 德·特朗普在社交媒体上公开决裂后，该公司今年早些时候卖掉了特斯拉持仓。 马斯克正向投资者兜售无人驾驶汽车、机器人助手以及火星生活的未来图景。但对投资者而言，问题在 于，要押注他的愿景，目前只有一种方式：特斯拉的股票。 这家电动汽车制造商的股价周四上涨近3%。此前该股周二创下今年首个纪录新高，四周累计涨幅超过 20%。在市场因特朗普政府关税而陷入高度恐慌、股价于4月8日跌至低点之后，该股已累计大涨近 120%，跻身标普500指数表现最佳的20只股票之列。 这家电动汽车制造商的股价周四上涨近3%。此前该股周二创下今年首个纪录新高，四周累计涨幅 ...

Core Viewpoint - SpaceX is entering a "regulatory quiet period," signaling the commencement of what could be the largest IPO in history, with an internal stock price set at $421 per share, leading to a valuation of $800 billion [1][3][6]. Group 1: Company Overview - SpaceX, founded by Elon Musk in 2002 and headquartered in Texas, aims to reduce space costs and enable human settlement on Mars [3][8]. - The company is currently the busiest rocket launch provider globally, frequently launching satellites with its Falcon 9 rocket and deploying its Starlink satellites into low Earth orbit [3][8]. Group 2: Financial Performance - SpaceX's internal stock pricing indicates a valuation of $800 billion, with aspirations from Musk to reach $1.5 trillion, potentially making him the world's first trillionaire [3][8]. - The company is projected to generate approximately $15.5 billion in revenue this year, with $1.1 billion expected from NASA, and its commercial revenue from space is likely to exceed NASA's entire annual budget next year [4][9]. - SpaceX has reportedly achieved positive free cash flow for several consecutive years [5][10]. Group 3: Market Impact - The successful IPO of SpaceX could significantly influence investment and financing in the global commercial aviation sector, similar to how Tesla impacted the electric vehicle industry [3][8]. - Following the IPO news, the closed-end fund Destiny Tech 100, which holds SpaceX stock, saw a pre-market increase of over 5% [2][7]. Group 4: Starlink System - The Starlink system has deployed over 9,000 satellites to provide high-speed satellite internet services, experiencing rapid business expansion in recent years [4][9].

Core Viewpoint - SpaceX is preparing for a potential IPO in 2026, with a target valuation of approximately $1.5 trillion, comparable to Saudi Aramco's record valuation of about $1.7 trillion in 2019 [1] Group 1: Company Developments - SpaceX is currently the busiest rocket launch company globally, frequently launching satellites for clients using its Falcon 9 rocket [1] - The Starlink satellite system has deployed over 9,000 satellites to provide high-speed satellite internet services, experiencing rapid business expansion in recent years [1] - The ongoing development of the Starship lunar and Mars exploration rocket projects is a significant factor driving SpaceX's IPO preparations [1] Group 2: Industry Context - The rapid expansion of satellite internet, particularly the direct-to-mobile device business, presents vast opportunities for growth [1] - China's Xingwang (GW constellation) is in a fast construction and networking phase, with a noticeable acceleration in launch progress expected in the second half of 2025 [1] - As China's rocket capacity improves in 2026, the launch frequency is anticipated to increase further, indicating a catalytic effect on the commercial space industry and investment opportunities within the supply chain [1]

SpaceX已正式向员工通报，公司正在为明年可能进行的首次公开募股(IPO)做准备，这一表态证实了近 期的市场传闻。 SpaceX首席财务官布雷特·约翰森在周五发给员工的一份内部备忘录中写道："我们正在为公司在2026年 进行潜在IPO做准备。我们的想法是，如果我们执行得足够出色、同时资本市场环境配合，那么IPO有 望为公司筹集巨额资金。" 这份备忘录显示，约翰森强调，是否最终上市以及具体时间表"仍存在高度不确定性"。他也并未在备忘 录中披露公司在IPO中可能寻求的估值水平。 不过，知情人士透露，约翰森在备忘录中披露了最新的内部股票定价为每股421美元，这意味着SpaceX 的整体估值约为8000亿美元，显著高于今年早些时候约4000亿美元的估值水平。 此前，多家媒体已报道称，SpaceX正在评估于2026年启动IPO的可能性。 作为一家私营公司，SpaceX不披露详细财务数据。不过，马斯克今年早些时候表示，公司今年的营收 预计约为155亿美元。本月，他还在X上发帖称，SpaceX"已连续多年实现正自由现金流"。 而投资者普遍欢迎有关SpaceX正考虑上市的报道，认为这将为马斯克的火星宏大计划提供资金支持， ...

SpaceX已正式向员工通报，公司正在为明年可能进行的首次公开募股(IPO)做准备，这一表态证实了 近期的市场传闻。 SpaceX首席财务官布雷特·约翰森在周五发给员工的一份内部备忘录中写道： "我们正在为公司 在2026年进行潜在IPO做准备。我们的想法是，如果我们执行得足够出色、同时资本市场环境配 合，那么IPO有望为公司筹集巨额资金。" 这份备忘录显示，约翰森强调，是否最终上市以及具体时间表"仍存在高度不确定性"。他也并 未在备忘录中披露公司在IPO中可能寻求的估值水平。 SpaceX此次考虑上市的决定，令部分长期接近公司的人士感到意外。长期以来，该公司一直 以全力实现马斯克"登陆火星"梦想为核心使命。 不过，知情人士透露， 约翰森在备忘录中披露了最新的内部股票定价为每股421美元，这意味着 SpaceX的整体估值约为8000亿美元 ，显著高于今年早些时候约4000亿美元的估值水平。 此前，多家媒体已报道称，SpaceX正在评估于2026年启动IPO的可能性。 约翰森在备忘录中写道，若IPO成行，募资用途将包括：将星舰火箭的发射频率提升至"疯狂的 程度"，在太空部署人工智能(AI)数据中心，以及推进无人 ...