Nvidia Earnings, SpaceX IPO filing and more ?2

09:14 21-May-26


Nvidia came out with another beat and raise with its earnings after the bell.  However, NVDA only rose about a percent after hours and trade flat this morning.  The sorts who trade such events may actually be a bit spooked by the dividend jumping from a penny to 25 cents, and Fed minutes that took rate cuts further off the table while somehow increasing economic uncertainty can't have helped.  This service also can't get behind an $80b repurchase authorization of a stock with a P/E well above 30.

Yet most of its thunder may have been stolen by SpaceX, which has filed its S-1.  After extensively detailing the rise of Nvidia's chip competition but dismissing the growing popular backlash against AI in market index terms, our parent CrowdWisers service came out with a list of seven observations from the IPO document and the financial table to the right.  It concluded with this paragraph:

On 5/21/26 3:05 AM, Esekla wrote:

Space Connectivity AI/Grok
$M -> 2025 1Q26 2025 1Q26 2025 1Q26
CapEx 3,832 1,052 4,178 1,332 12,727 7,723
Revenue 4,086 619 11,387 3,257 3,201 818
Operational P/L (657) (662) 4,423 1,188 (6,355) (2,469)
Adj EBITDA 653 (351) 7,168 2,087 (1,237) (609)
The number of SPCX shares being offered at what price should be specified in an amended filing about two weeks from now.  In the meantime, the pre-IPO price is up by almost half from what I quoted just 3 days ago, to $1227.  So far SATS shares are right around the same level, though they have roughly doubled in the 8 months since I added the stock to the website.  Although, I want no further part of this speculation, I've also documented how sketchy index behavior is lining up with almost every other facet of the finance industry to put lipstick on this pig.  In response, I'll pull out the trope, "Bulls make money, bears make money, but pigs get slaughtered."  This is by far the largest IPO capital raise in history from a company with a massive lead in space technology, deployment and talent; it has every reason to run higher for quite some time, but knowing a game is rigged doesn't enable one to predict when it will turn against you.