Space Exploration Technologies Corp. (NASDAQ:SPCX) and Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk has reaffirmed his goals of establishing outer space manufacturing capabilities in pursuit of developing deep space AI compute.
Elon Musk Touts Lunar Factories, Mass Drivers
The trillionaire took to X on Tuesday, sharing how humanity could harness the power of the Sun to fulfill AI goals. In the thread of the post, user James Stephenson asked the SpaceX CEO if the Earth’s orbit would suffice to harness enough solar energy to fulfill the AI goals.
Musk, responding to Stephenson, touted building factories on the Moon. “It would require manufacturing solar panels & radiators on the Moon and launching them into deep space with a mass driver,” he said.
However, he then stated that “conventional money” would become irrelevant long before the milestone is achieved. “Mass & energy will take the place of dollars,” Musk said.
SpaceX’s Rally, Musk’s Trillion-Dollar Fortune
While Musk has, on several occasions, said that money would become irrelevant in the future, SpaceX’s blockbuster IPO and its recent stock rallies have solidified his position as the richest person on the planet.
Musk’s $1.3 trillion fortune means that he has amassed more wealth than some of the richest people on Earth, combined, including Amazon.com Inc. (NASDAQ:AMZN) founder Jeff Bezos.
SpaceX, too, following its IPO, outgrew tech companies like Microsoft Corp (NASDAQ:MSFT) and Amazon on market capitalization benchmarks.
Meme Stock Concerns?
SpaceX’s IPO has sparked a retail investor rush, with the stock’s retail turnover exceeding $7 million in the first 10 minutes of the trading session on Monday.
However, the stock’s rally has sparked concerns among investors about SpaceX becoming a meme stock, with analysts like Jim Cramer pointing to SPCX trading like a “meme stock.”
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