“Big Short” Jim Chanos is bearish on SpaceX: Nearly $2 trillion valuation is hard to sustain

Glonghui, June 21 — Wall Street legendary short seller and “Enron terminator” Jim Chanos stated at a seminar today that SpaceX's launch business continues to lose money, and space data centers face fatal constraints such as cooling, radiation, and maintenance costs, making it difficult to support a valuation of nearly 2 trillion. Chanos broke down SpaceX from a business logic perspective: the biggest costs in space are radiation shielding and cooling. Also, data center equipment frequently fails — on Earth, you just send a technician to replace parts, but in space, you have to launch a rocket. The total addressable market (TAM) in space is infinite, but so is space’s infinite entropy (random risk). He emphasized that currently SpaceX's launch business is still operating at a loss.