The Space Economy Boom

The space economy has transformed dramatically over the past decade, driven primarily by SpaceX. Luke Lango, presenting the XPanse thesis at InvestorPlace, provides specific data points that illustrate the scale of this transformation:

  • SpaceX conducted 166 orbital launches in 2026, compared to 92 for China and 17 for Russia
  • Over 10,000 Starlink satellites now orbit Earth
  • SpaceX’s launch cost reduction has achieved a 97 percent reduction
  • Musk is targeting $10 per kilogram for Starship, down from $1,500 per kilogram
  • The SpaceX IPO made Musk “the world’s first trillionaire”

These are verifiable data points. SpaceX is launching rockets almost every other day. The Starlink satellite constellation provides global internet coverage. And the SpaceX IPO created enormous wealth for early investors. As we explain in our full review of the INI XPanse presentation, the space economy is central to the XPanse thesis. Here we focus on the space intelligence angle and what it means for investors.

Wealth Creation from Space

Lango provides specific examples of wealth creation from the space economy:

  • Antonio Gracias, Musk’s best friend, made over $97 billion from early SpaceX investment
  • Luke Nosek, the first venture capital investor to back SpaceX, has a stake worth $4.5 billion
  • Darsana Capital Partners, a hedge fund that went “all-in” on SpaceX in 2019, made $10 billion in seven years

These are real wealth-creation events. The SpaceX IPO was the largest IPO in financial history, and it created billionaires and hundred-millionaires among early investors. Lango’s argument is that the XPanse merger would create the next wave of space economy wealth, and investors who position now can participate.

For more on Lango’s track record with space stocks, including Rocket Lab at 3,359 percent gains, see our article on Rocket Lab on Nasdaq. For more on Lango himself, see our profile of Luke Lango.

The Orbital Data Center Revolution

The most innovative part of the space economy thesis is the concept of orbital data centers. Lango introduces the AI1 satellite as “the world’s first orbital data center” and “Elon’s genius solution to the AI power bottleneck.” The concept solves three problems simultaneously:

Power. Solar arrays harvest “practically unlimited energy from the Sun,” generating 5 to 7 times more power than Earth-based solar panels. No nighttime, no clouds, no weather.

Cooling. Space is -454 degrees Fahrenheit. “The heat waste radiates directly into the vacuum of space.” No water cooling needed, which eliminates one of the biggest constraints on Earth-based data centers.

Land. No land-use regulations, no NIMBY protests, no zoning battles. You can deploy as many orbital data centers as you can launch.

Musk has filed with the FCC to launch up to 1 million orbital data centers. Big Tech is already lining up: Google has entered deal talks, Anthropic has expressed interest, and Blue Origin has asked the government for permission to launch more than 50,000 orbital data centers. The Starcloud startup has already demonstrated orbital computing with an Nvidia chip running Google Gemini in space. For more, see our article on AI compute capacity.

The NASA ETF: Space Intelligence for Everyone

Lango reveals the Tema Space Innovators ETF (NYSE: NASA) as his free ticker. This ETF “holds direct SpaceX exposure as a core position” and provides diversified exposure to the space economy. Lango draws a critical distinction:

“Unlike the closed-end funds trading at enormous markups to what they actually own, this is an ETF, meaning its price tracks the real value of what’s inside it. You’re paying for the assets. Not for the excitement around the assets.”

This is genuinely useful advice. The NASA ETF provides a way for any investor to gain space economy exposure without paying premium prices or taking single-stock risk. The ticker NASA is easy to remember and fitting for a space-themed investment. For more on space stocks, see our article on space stocks.

The $15 Space Stock

Lango’s first paid pick is a space stock trading for $15 per share. He describes it as “a mission-critical supplier to the booming aerospace industry” with hardware aboard the Orion spacecraft for NASA’s Artemis II mission. It specializes in the complex solar arrays that SpaceX uses for its orbital data centers and recently soared 181 percent in three weeks.

The investment thesis is that if SpaceX scales orbital data center production, the demand for solar arrays scales with it. The $15 stock is a picks-and-shovels play on the orbital data center buildout. For more on the supply chain, see our article on sources for Tesla and SpaceX.

The Terafab Connection

The space economy connects to the Terafab, the 100-million-square-foot chip facility in Texas. Lango says the Terafab is “powered by SpaceX’s AI1 satellites.” If orbital data centers can provide the enormous compute power needed for AI-driven chip manufacturing, the Terafab’s efficiency and capacity increase. The integration of space infrastructure and chip manufacturing is what makes the XPanse thesis more than just a space economy play.

The Terafab also addresses the national security dimension of the space economy. By doubling American chip production, the Terafab reduces dependence on Taiwan for 97 percent of high-end chips. The rare earth kingpin Lango identifies, with $1.6 billion in government funding and a mine 70 miles from the Terafab site, provides the raw materials. For more, see our article on Elon Musk’s Terafab.

The Launch Cost Trajectory

The key driver of the space economy is the declining cost of launch. SpaceX has already achieved a 97 percent reduction in launch costs. Musk is targeting $10 per kilogram for Starship, down from $1,500 per kilogram. If that target is achieved, the economics of space-based infrastructure transform entirely.

At $10 per kilogram, you could launch server hardware into space for less than it costs to build and permit a data center on Earth. Orbital data centers, satellite constellations, and space manufacturing all become economically viable. The companies supplying the components for this space-based infrastructure, like the $15 solar array stock, are positioned to benefit from the scaling.

The 166 orbital launches SpaceX conducted in 2026, compared to 92 for China and 17 for Russia, demonstrate that SpaceX is already operating at a scale no other entity has achieved. The 10,000+ Starlink satellites in orbit provide a revenue base that funds further space infrastructure development. For more on the investment framework, see our article on growth potential.

Considerations

The space economy thesis is grounded in verifiable data. SpaceX’s 166 launches, 10,000+ satellites, 97 percent cost reduction, and the wealth creation from the SpaceX IPO are all real. The NASA ETF provides a responsible, accessible way to participate. And the orbital data center concept, while innovative, has been demonstrated by Starcloud and validated by interest from Google, Anthropic, and Blue Origin.

What to consider: The $10 per kilogram Starship target has not been achieved yet. The FCC filing for up to 1 million orbital data centers is a regulatory aspiration, not a deployment plan. The $15 space stock has already surged 181 percent. And the space economy, while growing, is still concentrated in SpaceX, which means the thesis depends significantly on one company’s success.

What makes the space economy thesis worth considering is the combination of real launch cost reduction, real satellite deployment, real wealth creation, real technology demonstrations (Starcloud), and real corporate interest (Google, Anthropic, Blue Origin). The direction is clear: space is becoming economically accessible, and the companies building the infrastructure are positioned to benefit. For investors interested in the space economy, the XPanse presentation provides a useful framework.

Ready to learn more? Click here to access Luke Lango’s full research.

This is not financial advice. Always do your own research before investing.