Did Google Just Give Investors 30 Billion Reasons to Buy the SpaceX IPO?
Google just signed a $30 billion compute capacity deal with SpaceX.
Overview
Last week, SpaceX (NASDAQ: SPCX) disclosed a new cloud service agreement with Alphabet's (NASDAQ: GOOGL) (NASDAQ: GOOG) Google through an amendment to its Form S-1. Demonstrating an ability to monetize artificial intelligence (AI) infrastructure by supplying a hyperscaler marks an important expansion of SpaceX beyond rockets and satellites.
With a total contract value of nearly $30 billion, did SpaceX stock just become a no-brainer buy with its initial public offering (IPO) looming on June 12? Read on to find out.
Image source: Getty Images.
Details
Source
Originally published at www.fool.com.
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