Yeah not sure how anyone thinks it's over on AI semis like $NVIDIA(NVDA.US) GPUs, memory, to photonics, after $SpaceX(SPCX.US) earnings.

- Previous Q4 capex outlook ~$18.4B... Now $35–40 billion Q4 capex guidance, basically doubling previous outlook

"Q3 and Q4 capex should be similar to Q2's $18.37B" from CFO in August.

-Elon: "If everything goes right, we’ll have 20 gigawatts of incremental power next year"

"High confidence of 10 GW next year, and 20 is difficult but not impossible

- "I’m being as precise as possible about this. It is absolutely insane to be deploying and providing the power and all of the electrical equipment, the cooling, the batteries, the networking, and everything else that’s needed to turn on 220,000 GB300s a month"

You're gonna need a lot of HBM, power, networking/optical components to make all of this happen.

- Elon projects SpaceX could exit 2027 with an ARR of "$500 billion and $1 trillion by the end of 2027

When you see $SpaceX(SPCX.US) double capex outlook next quarter, target another 10GW deployment by next year, and all the procurement needed to turn on 220,000 GB300's a month...

Hard not to be bullish on AI semis.