00:00 Speaker A Pras, let's start here because what we're seeing is the company believes that it's leaning into a 28.5 trillion dollar market. And when people think of SpaceX, they may only think of that rocket business, but there's actually so many more parts of this business as well. 00:26 Pras Yeah, I mean, look, it's a really interesting nugget here that has really caught a lot of people's eye...
00:00 Speaker A Pras, let's start here because what we're seeing is the company believes that it's leaning into a 28.5 trillion dollar market. And when people think of SpaceX, they may only think of that rocket business, but there's actually so many more parts of this business as well. 00:26 Pras Yeah, I mean, look, it's a really interesting nugget here that has really caught a lot of people's eyes, right? So, in that prospectus filed yesterday, they said that they have a the the largest total addressable market ever claimed by a public company in an offering, saying it's 28.5 trillion, right? trillion. Um, largest actual market opportunity in human history. Well, what does that mean exactly? So, in the filing itself, they say that about 370 billion of that is going to be the launch and space enabled business, right? Uh, 1.6 trillion of that is the Starlink-based connectivity, and we saw that that's a very profitable business for Star for Star SpaceX. The remaining amount, which is the vast majority of it, is AI, right? So, how does that how does how does that model generate 20 over 20 trillion dollars in addressable market value? So, you know, they kind of see it as as a flywheel effect, right? So, Starlink generates the cash to bankroll the next generation Starships, and then Starships, uh, when they launch, they can slash costs to to launch stuff into into the market, and that'll ultimately expand the market and support new AI businesses, right? So, I mean, that's a lot. That that's a big sort of pie in the sky, theoretical thing. But hey, look, if you look in the filing also, you see that they have a business called Colossus, right? That's their big data center, that's their big, uh, GPU kind of compute center. And Anthropic has a 1.25 billion dollar a month, uh, contract with with with SpaceX to to offer them services. So, so you can see a little bit of that where that could come from just from a compute element alone. 02:08 Speaker A What sort of opportunity i...