The 8:30 hosts covered top stories including Apple's (AAPL) iPhone Duo hitting stores, Airbnb's (ABNB) new rules for owners, and the 10-year yield falling below 5%. EZPR CEO Ed Zitron then joined to discuss SpaceX (SPCX) raising $40B in debt tied to AI, and a slowdown in the memory unit IPO market following the debut of Anthropic (ANTH.PVT).
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SpaceXbondsartificial intelligenceIPO
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Related tickers and likely impact
AAPL
• NeutralApple Inc.
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Technology Hardware, Storage & Peripherals |
| Market cap | $5.0T |
| Close on 10/22/2026 | 348.32 |
| Change that session | +1.26% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
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SpaceX (SPCX) will release earnings on Oct. 20 after the market close, a surprise since earnings dates are usually shared weeks in advance. Evercore ISI analyst Kutgun Maral says possible reasons include putting updated financials on record before new financing or getting ahead of major lock-up releases, though scheduling is also possible. Reuters reported SpaceX is seeking $40 billion in financing to buy advanced Nvidia AI chips, including about $10 billion in bank loans and $30 billion in investment-grade debt, with Apollo expected to lead. The lock-up schedule includes 1.30 billion shares two days after earnings, 329 million on 10/24, and a remaining 857 million tranche of the 180-day group.
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SpaceX (SPCX) shares have risen about 35% from their August low as investor confidence grows, though they remain roughly 10% below their first-day closing price. The company's second-quarter report showed revenue up 92% year over year and a net loss cut almost in half. Starlink subscriptions doubled to 12 million, with more than 11,000 satellites in orbit, while xAI revenue rose 247% and it signed multiyear contracts with Alphabet and Anthropic. The author argues that a price-to-sales multiple of 68, far above the S&P 500's average of 3.8, does not justify the risk given a major lockup ending in December and the company's lack of profit, though he would consider buying at a different valuation.
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SpaceX (SPCX), which went public in June, operates three segments: space, connectivity and AI. Connectivity is the largest source of revenue and profit, with Starlink generating $4.3 billion in second-quarter revenue, up 66% year over year, and $1.7 billion in segment operating income, the company's only consistent profitability. The AI segment, which includes Grok, Cursor and computing infrastructure, generated $2.6 billion in second-quarter revenue, up nearly 247%, but its AI infrastructure is operating at a loss due to heavy investment. The market capitalization is around $2 trillion, and consensus expects $116 billion in revenue next year, a forward price-to-sales ratio of roughly 17, while Goldman Sachs and Morgan Stanley forecast more than $300 billion in annual revenue by 2030. The author considers a $5 trillion market capitalization a realistic outcome by December 2030, which would turn a $3,000 investment into $7,500, though the current valuation leaves little room for disappointment.
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