One company's expense is another company's earnings.

SpaceX's decision to more than double its AI capital spending rattled investors this week and helped send the stock sharply lower.

But that same $15.8 billion didn't disappear.

It flowed into a growing network of companies building the power plants, turbines, electrical equipment, cooling systems, and infrastructure needed to support AI at unprecedented scale.

In other words, while investors were debating whether SpaceX was spending too much, someone else was reporting one of their best quarters.

Here's who they are.⇩

SPONSOR BREAK presented by DealMaker*

The ‘Nvidia of Energy’ Has a $2.1T Opportunity

Nvidia’s valuation surged by 1,092% in just 3 years* when it became the backbone of AI. 

How? They became the indispensable backbone of Artificial Intelligence. But today, AI has a problem that Nvidia can’t fix. 

As AI data centers begin consuming more power than entire nations like Sweden or Argentina**, Frontieras North America's patented technology reforms coal into high-value commodities like hydrogen and diesel without burning it. Since coal is one of America’s most abundant resources, this creates a clean, reliable source of baseload power, upgrading and expanding coal plants when the country needs it most. Under a White House that favors energy production on our home soil, it could unlock up to $2.1 Trillion in energy potential***. 

But that’s not even the best part. They’re doing it in what was once the heart of American industry: Appalachia. Their new land purchase in Mason County, West Virginia has earned praise from the state’s Governor Morrisey for its potential to transform the region back into an energy powerhouse. 

Here’s why you shouldn’t miss this last chance to invest at $9.01/share:

After selling out their $25.7M raise in just months, they’re now qualified to raise $75 million. As a perfect storm of breakthroughs set up the company for potential growth, time’s running out to invest at the current price. 

Lock in the $9.01 share price before the window closes at 11:59 p.m. PT tonight.

Disclaimer: This is a paid advertisement for Frontieras’s Regulation A offering. Please read the offering circular at https://invest.frontieras.com/. Forward looking statements were included here that the Company believes to be accurate given the current information. They involve known and unknown risks, uncertainties and other important factors which if changed may affect the outcome(s). Reservation of the ticker symbol is not a guarantee that we will be listed on the NASDAQ.  Listing on the NASDAQ is subject to approvals. Under Regulation A+, a company has the ability to change its share price by up to 20%, without requalifying the offering with the SEC. Comparisons to other companies or investments are provided for informational purposes only and do not imply future performance.

It's easy to hear 20 gigawatts and move on.

It's harder to ignore when you compare it to the entire U.S. power grid.

Last year, the United States added roughly 53 gigawatts of new generating capacity.

✱ SpaceX's long-term target—20 gigawatts of power, cooling, and electrical infrastructure—is equivalent to nearly 40% of that.

Even Musk's more conservative scenario of roughly 15 gigawatts would represent an extraordinary industrial buildout for a single company.

That's why this story extends well beyond AI chips.

Before the GPUs arrive, someone has to build the electricity to run them.

SpaceX expects to have roughly 10 gigawatts of AI compute online by the end of next year. But Musk says the company is aiming for 20 gigawatts of power, cooling, and electrical infrastructure—twice as much.

Building power infrastructure ahead of compute demand is a deliberate hedge.

Power plants, substations, transformers, cooling systems, and electrical equipment can take years to plan and build. AI servers can be installed much faster once that foundation is in place.

→ The extra 10 gigawatts isn't excess.

It's a preview of how much infrastructure SpaceX expects to need—and how many orders suppliers could receive before the next wave of AI hardware even shows up.

SPONSOR BREAK presented by DealMaker*

The ‘Nvidia of Energy’ Has a $2.1T Opportunity

Nvidia’s valuation surged by 1,092% in just 3 years* when it became the backbone of AI. 

How? They became the indispensable backbone of Artificial Intelligence. But today, AI has a problem that Nvidia can’t fix. 

As AI data centers begin consuming more power than entire nations like Sweden or Argentina**, Frontieras North America's patented technology reforms coal into high-value commodities like hydrogen and diesel without burning it. Since coal is one of America’s most abundant resources, this creates a clean, reliable source of baseload power, upgrading and expanding coal plants when the country needs it most. Under a White House that favors energy production on our home soil, it could unlock up to $2.1 Trillion in energy potential***. 

But that’s not even the best part. They’re doing it in what was once the heart of American industry: Appalachia. Their new land purchase in Mason County, West Virginia has earned praise from the state’s Governor Morrisey for its potential to transform the region back into an energy powerhouse. 

Here’s why you shouldn’t miss this last chance to invest at $9.01/share:

After selling out their $25.7M raise in just months, they’re now qualified to raise $75 million. As a perfect storm of breakthroughs set up the company for potential growth, time’s running out to invest at the current price. 

Lock in the $9.01 share price before the window closes at 11:59 p.m. PT tonight.

Disclaimer: This is a paid advertisement for Frontieras’s Regulation A offering. Please read the offering circular at https://invest.frontieras.com/. Forward looking statements were included here that the Company believes to be accurate given the current information. They involve known and unknown risks, uncertainties and other important factors which if changed may affect the outcome(s). Reservation of the ticker symbol is not a guarantee that we will be listed on the NASDAQ.  Listing on the NASDAQ is subject to approvals. Under Regulation A+, a company has the ability to change its share price by up to 20%, without requalifying the offering with the SEC. Comparisons to other companies or investments are provided for informational purposes only and do not imply future performance.

Building 20 gigawatts of AI infrastructure isn't just about buying more GPUs.

It requires turbines, generators, transformers, cooling systems, natural gas, and enough electricity to power an entirely new generation of data centers.

That's where these companies come in.

The chips may get the headlines.

These companies build everything that lets the chips turn on.

The orders were already showing up in earnings long before SpaceX confirmed its 20-gigawatt ambition.

→ None of these numbers were driven by SpaceX alone.

GE Vernova and Baker Hughes reported them before Musk outlined his 20-gigawatt target. The demand was already building as Microsoft, Amazon, Meta, Google, and other hyperscalers accelerated spending on AI infrastructure.

SpaceX just reinforces the trend.

That's an important distinction. These suppliers aren't relying on one customer or one company's ambitions—they're benefiting from a much broader buildout that now has another major buyer joining the queue.

While the power buildout will be shared across a long list of industrial suppliers, the compute side of the project has only one winner.

On Tuesday's earnings call, Elon Musk confirmed that SpaceX will build its AI infrastructure exclusively on Nvidia's systems, centered around the company's Vera Rubin NVL72 platform for both terrestrial AI clusters and SpaceX's planned orbital data centers.

The market noticed.

Nvidia shares climbed more than 4% on Wednesday, even as SpaceX fell more than 10% intraday before recovering some of those losses.

Building AI at this scale requires an entire industrial ecosystem.

But when it comes to the chips, SpaceX has already chosen its supplier.

The spending isn't happening in a vacuum.

SpaceX says its AI revenue is being driven by cloud infrastructure agreements, growing Grok and X subscriptions, and large-scale capacity leases with Google and Anthropic, which use SpaceX's infrastructure to power their own AI services.

✱ That's the demand side of the equation.

✱ The 20-gigawatt buildout is the supply side.

As customers rent more compute, SpaceX needs more power, cooling, and electrical infrastructure to support it—and that's where companies like GE Vernova, Baker Hughes, and the rest of the supply chain come in.

Was this email forwarded to you? Don’t miss out on future stories — subscribe using the button below.

Also, help your friends blossom this spring! Share us with them.

Got a market or stock you want us to analyze next?

Just drop your request in the comments here.

P.S. - If you no longer want to receive occasional emails from us and you want to unsubscribe, click here 👉 “Unsubscribe” . Thank you!