SpaceX is sounding more confident than expected about its AI data center business and Starship, which is good news for investors in SpaceX and Nvidia.

• SpaceX's finance chief says the company is earning at the high end of its $30–50 billion per gigawatt range on AI compute deals, far better than skeptics assumed.
• That money comes mostly from Anthropic, OpenAI, and Google, and the contracts renew every 90 days — so if those companies stumble, the revenue can vanish fast.
• SpaceX expects to hit $100 billion in yearly recurring revenue by December after signing another big monthly contract.
• The next Starship flight will carry paying Starlink V3 satellites, the first revenue-generating launch instead of a test.
• Orbital data centers are promised to start late 2027 and scale in 2028, though a mid-2030s timeline looks more realistic given heat and power problems in space.

Outlook: With SpaceX stock down sharply from its post-IPO highs and Microsoft planning to triple its data center capacity, the bottom may be in for both SpaceX and Nvidia — unless the big AI spenders start cutting back.