SpaceX’s Tesla Tie-Up, Muse Momentum, and AI’s 1% 10/21/26

AI spending is dangerously concentrated in a top 1% of VC-backed users whose growth is now stalling, a risk for model makers and chipmakers alike.

• SpaceX results impress, Starlink risk flagged: Revenue and Starlink growth (+70%) beat expectations; Futurum's Olivier Blanchard warns Starlink access could be "throttled or cut off at any moment" and calls space-based data centers a low-ROI, high-risk option versus edge AI.
• Tesla-SpaceX merger talk lifts both: Musk floated what could be the largest merger in history; Tesla ($1.5T) and SpaceX ($2.5T) shares rallied on the idea, though Kilburg questioned whether value is being created versus just shifted between companies.

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