SpaceX路演PPT

DISCLAIMER OFFERINGSUMMARY Allen & Company LLC, Cantor, Needham & Company, Raymond Jame, Societe Generale, Stifel, william Blai OUR MISSION To build the systems and technologies necessary to make lifemultiplanetary, to understand the true nature of the universe,andtoextend thelightofconsciousnesstothestars Whileweremaindedicatedtoourfundamentalmission,ourprogress in accessing space continues to yield opportunitiesthat enrich life on Earth. For example, by dramatically reducingthecostofaccesstospace,wehavebeenabletoexpandourmission to address some oftheEarth's.mostpressingchallenges, including bridging the digital divide by aiming toand humanity's collectiveknowledge The rapid emergence of the Al era intensifies the urgency ofourmission,as Al has thepotential to accelerate not onlyspace exploration,butalso transformative societaladvancements on Earth. Al's ability to revolutionize humanpotential is directlydependent on meeting exponentiallyncreasingresourcedemands OUR INTEGRATEDPLATFORM We are the only company building the integratedhardwareandsoftwareinfrastructureof thefutureacrossspace,connectivity,and Al.Atourcore,wearebuilders N OF 1BUILDING THEINFRASTRUCTURE OF THE FUTURE Al SPACE Gigawatt-scalecompute infrastructure,frontiertruth-seekingAlmodel,andreal-timeinformationplatform The world's largest and most advanced high-speed,low-latency satellite internetnetwork Unparalleled launch capabilitieswithhighcadencereusability,andcapability WEMAKETHEEXTRAORDINARYPOSSIBLE SPACE TheFIRSTprivachorbit(2008TheFIRSTpriStation(2012)elyland (2015)and reflyorbital-classrocketboosters(2017)TheFIRSTprivateco CONNECTIVITY The FIRSTto manufacture consumer-gradephased-arrayuser terminals at scale (2022)TheFIRSTtodeploya large-scaleLEO satellite-to-mobile constellation (2025)The ONLY low-latency network available globally AI andlargestcoherentsupercomputer(2026)The FIRST gigawatt-sation(2026)The ONLY company capable of building orbital Al compute at scale WHY WE WIN Global leadershipinorbital launchservices Unrivaled satellite and connectivityplatformacross design,manufacturing,deploymentandoperations Truth-seeking Al model enhanced by real-time data Extreme vertical integration enabling high velocity and superior cost efficiency at scale Unique ability to scale new trillion-dollar markets across space, connectivity,and Al Business models thatare incredibly difficult to replicate Mission-driven cultureand world-class talent EXTREMEVERTICALINTEGRATION THEALGORITHM 01MAKETHEREQUIREMENTSLESSDUMB 02DELETETHEPARTORPROCESSSTEP 03OPTIMIZE 04ACCELERATE 05AUTOMATE MISSION-DRIVEN CULTUREAND WORLD-CLASSTALENT Average Tenure ofTop 3Executives 21 YEARS Average Tenure of12 YEARSSeniorManagement Percentof EngineerApplicantsAcceptedin2025 <2% OURREPEATABLEBUSINESSMODEL SEVENLeverage our unparalleled launch capabilities to enable massive scale SIXIdentifyandcreatenewtrillion-dollarmarketopportunities FIVEDesign a solution with world-class engineering and first-principles thinking FOURApply"The Algorithm" (make less dumb, delete, optimize, accelerate, automate) THREEVerticallyintegrateallthewaytotheendcustomel ONEGeneratesignificantcashflowandreinvestinthefuture LIFTOFF WEALREADYADDRESSAMASSIVES6TMARKET AIUNLOCKSANEVENLARGEROPPORTUNITY 2026... A MOMENTOUS YEAR SO FAR MOREMILESTONESAHEAD TERRESTRIALCOMPUTE BROADBANDV3SATELLITE MOBILEV2SATELLITE AICOMPUTESATELLITE STARSHIPV3 H2.2026Commencepayloaddelivery to orbit H22026on Starship 2027Begin deploymenton Starship 400MW+Computepower in nextphase of Colossus Il 2028Begin deploymenton Starship 1,024Gigabitpersatellite 100KWCompute powepermetric ton 5Gdata services 220K+AdditionalGB3OOsilnext phase of Colossus Il 100Metrictonspelaunchovertime OUR SPACEBUSINESS We are the world's leading launch provider, with morethan 80% of mass to orbit forthe world since 2023 This critical capability is our foundation and enables therest of our businesses WORLD'S ONLY FLEET OF REUSABLE ROCKETS DRAGON 50+ tationSince2020 78 Crewmembers Safely 20 s Represented by Passsince2020 ONLY THE VALUE OF ROCKET REUSABILITY COST ADVANTAGETOSPACEX Reuse of expensive hardwareloweringlaunchcosts LOWERCostperlaunchcompared toexpendablerockets MOSTLaunchesofanyproviderin the industry LAUNCHCADENCE Enableshigherflightrate,rapid large-scaledeploymentsand humantransportation RELIABILITY ADVANTAGETOOURCUSTOMERS Post-flight inspectionsfeed an iterativereengineering loop that increases reliability LOWESTCost perkg to orbit LOWERInsurancepremiums ENVIRONMENT Reduces manufacturing waste, emissions and ocean-polluting debris STARSHIP First ever heavy-lift rocket built for full and rapid reusability Proven Starshipboosterreusability;theremainingtechnicalmilestoneis the catch and re-flight of the ship Proven full-duration ascents and hot staging separation Propellant transferformissions beyond Earth's orbit Robust multi-destination landing