AI hype to AI economy. Exploring the companies, infrastructure, and trends shaping what's next. Social Media Guidelines: https://xitter.cf/t.co/nO3uZMoUDA
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SpaceX spent $19.6B on capex last quarter. Revenue? $14.6B.
That gap says a lot about the scale of the AI buildout.
And SpaceX isn't alone. Earnings from Meta and Tesla reveal different approaches to funding the infrastructure behind AI.
Here's what stands out. (1/6)
Beyond earnings, the AI ecosystem keeps expanding.
OpenAI and Google Cloud announced plans to offer OpenAI models through Google's Model Garden.
Meanwhile, Anthropic and Nscale are reportedly discussing another $45B compute deal.
Different partnerships. Shared infrastructure needs. (5/6)
Here's the bigger picture:
AI labs may compete on models, but they depend on many of the same inputs: chips, power, data centers and capital.
The question isn't just how much companies are spending. It's whether that investment can translate into sustainable returns.
Which number stands out to you? (6/6)
Anthropic just made its IPO filing public. The S-1 shows $16.3 billion of revenue in the first half of 2026, up from $1.2 billion a year earlier. That’s about 14x, and it shows how quickly the business behind Claude is scaling. (1/5)
Those are spending plans over many years, not money already spent. Financing and delivery are central to making them happen. (4/5)
Harbor’s Anthropic AI Lab Ecosystem ETF ($ANTW) seeks to provide exposure to that ecosystem. As of October 23, the fund held 8.1% in Alphabet, 6.9% in Amazon and 6.3% in Microsoft. These holdings connect Claude’s growth with companies providing the capacity to run its models and serve its customers. Learn more: harborcapital.com/etf/antw/ (5/5)
Salesforce agreed on October 20 to buy Braze for about $5.66 billion in enterprise value (a measure of a company's total value, including debt). Braze helps brands send personalized messages through apps, websites, email and texts. Why does that matter for AI agents? (1/6)
Harbor's Anthropic AI Lab Ecosystem ETF ($ANTW) held 5.0% in Salesforce as of October 19. That connects the fund to Claude's enterprise adoption through a company that already has customer data, business workflows and distribution. (5/6)
AI is now SpaceX's largest business by revenue. Results released after the October 20 market close show third-quarter Super Intelligence revenue of $7.56 billion, up 195% from the prior quarter. Here's a thread on what drove it. (1/5)
That gives SpaceX two ways to earn: revenue from AI applications like Grok, and revenue from supplying the computing capacity other customers need. (4/5)
Harbor's SpaceXAI Lab Ecosystem ETF ($XAIW) held 21.6% in SpaceX as of October 20. The fund aims to give exposure to the companies most directly linked to the SpaceXAI artificial intelligence ecosystem, like the chip and server suppliers serving the broader buildout.
XAIW: harborcapital.com/etf/xaiw/ (5/5)
