SpaceX's $80 billion raise lifts Micron on chip bet

What happened

SpaceX raised $80 billion（約13兆円） in its recent IPO and now has a valuation of $2.5 trillion（約400兆円）. An equity research note from Lynx Equity argues that SpaceX will deploy significant cash toward semiconductors and AI chips to fuel growth, positioning Micron as a beneficiary of that spending.

Why it matters

SpaceX is increasingly an AI company—it recently spent $60 billion（約9.6兆円） in stock to acquire Cursor. For SpaceX to realize its potential AI business value, it will need to invest heavily in AI chips and the memory chips that support AI inference work, meaning more revenue opportunities for chip suppliers like Micron and Nvidia.

What to watch

Lynx Equity views Nvidia as its preferred way to play SpaceX's chip spending. Micron stock is currently valued at 20x sales but trades at 6x cheaper than SpaceX's valuation, according to the report.