Dear Friend,
Musk needed batteries. He built the Gigafactory.
Needed solar. Acquired SolarCity.
Needed data. Bought Twitter.
The pattern is clear: when a supplier becomes mission-critical, Musk doesn't negotiate. He acquires.
Right now, the most critical supplier in his $1.75 trillion empire is a small power infrastructure company — the one building the equipment Colossus literally can't run without.
For Musk, acquiring it would be pocket change.
For investors who own it before that happens, it could be life-changing.
Dylan Jovine has the name and ticker.
See the stock Musk's playbook says he needs >>
"The Buck Stops Here,"
Kelly Maguire
Behind the Markets
As Broadcom Eclipses $2 Trillion, Private Credit Giants Wants In
Author: Leo Miller. Date Posted: 5/17/2026.
Key Points
- Broadcom has performed exceptionally well as of late, surging to a market capitalization above $2 trillion.
- Amid this, reports have surfaced that the company is in talks to receive tens of billions in private credit funding.
- See what the report signals about Broadcom's outlook and what it could mean for the company's balance sheet.
- Special Report: Elon Musk already made me a “wealthy man”
Over the past several weeks, semiconductor giant Broadcom (NASDAQ: AVGO) has entered rarified air, with its market capitalization eclipsing $2 trillion. Broadcom is now one of just six companies in the world in this territory, becoming more valuable than giants like Meta Platforms (NASDAQ: META) and Tesla (NASDAQ: TSLA).
Notably, shares fell below $300 in late March, a level not seen since September 2025. Broadcom has since rebounded sharply, closing at or above $430 multiple times in May. Overall, Broadcom shares are now nearing a 50% gain from their March lows.
The #1 stock to buy BEFORE the June 12th filing (Ad)
When the SpaceX IPO launches, most retail investors will be locked out. The banks, funds, and insiders get in early - while everyone else waits on the sidelines.
But one small infrastructure supplier - a critical piece Musk can't scale the Colossus network without - is still trading well under institutional radar. A new briefing reveals the name and ticker at no cost.
Get the SpaceX infrastructure stock name and ticker hereAn interesting report recently surfaced about the company, with potential implications that could be both positive and negative.
According to Bloomberg, the company is in discussions with two alternative asset management giants to receive billions in debt funding.
While this move signals confidence in Broadcom’s outlook for its artificial intelligence (AI) chips, it also raises questions, given the company’s already significant debt load.
Broadcom, Blackstone, and Apollo: Private Credit Eyes AI Infrastructure
Asset management companies Blackstone (NYSE: BX) and Apollo Global Management (NYSE: APO) are reportedly in talks with Broadcom to provide $35 billion in private credit funding. Details around the potential deal are minimal, but the funds would reportedly support Broadcom’s AI chip development roadmap.
From Broadcom’s perspective, this suggests the company is highly confident in demand for its chips going forward. $35 billion is no small sum; the agreement would be one of the largest private credit deals ever. It is unlikely Broadcom would pursue the deal without strong multi-year visibility.
The report also signals confidence in Broadcom’s future from Blackstone and Apollo—lenders who would presumably want to recoup their principal with meaningful interest over time.
Broadcom’s Debt Already Sits Above $60B
Near the end of 2023, Broadcom acquired VMware in a deal worth $69 billion. The acquisition has been a clear success. Since VMware came onto Broadcom’s books in its fiscal Q1 2024, its quarterly infrastructure software revenue has increased from $4.75 billion to $6.78 billion. That works out to a strong compound annual growth rate of just under 20%. Broadcom has also significantly improved VMware’s margins by cutting costs while increasing prices.
However, the deal also greatly increased Broadcom’s debt. Between its fiscal Q4 2023 and fiscal Q1 2024, Broadcom’s total debt nearly doubled from $39.6 billion to $75.9 billion. Notably, Broadcom has made solid headway in reducing that debt since then, with the figure falling by around 13% to $66.1 billion last quarter. Adding $35 billion in private credit financing could put total debt near $100 billion, far above post-VMware levels.
Still, debt levels alone do not tell the full story of Broadcom’s solvency. One key metric of balance sheet health is the net debt-to-EBITDA ratio, also known as the “leverage ratio.”
Balance Sheet Breakdown: Broadcom’s Theoretical Leverage Ratio
Note that: Net Debt/EBITDA = (Total Debt – Cash) / (Quarterly EBITDA x 4)
With $66.1 billion in total debt, $14.2 billion in cash and equivalents, and fiscal Q1 EBITDA of $10.8 billion, Broadcom’s net debt-to-EBITDA ratio is roughly 1.2x. That is healthy. For reference, S&P Global recently evaluated the theoretical health of Texas Instruments' (NASDAQ: TXN) balance sheet after a proposed acquisition. S&P said Texas Instruments would have “a strong balance sheet with net debt to EBITDA comfortably below 1.5x following transaction close.”
Adding $35 billion in debt would lift Broadcom’s figure to about 2x. While more elevated, that is not particularly problematic. Leverage ratios below 3x are generally acceptable.
Furthermore, it is unlikely Broadcom would draw down all of this debt at once. Additionally, as is common with private credit deals, a significant portion of the financing may never actually appear on Broadcom’s balance sheet. Lastly, Broadcom is growing EBITDA rapidly. Its last 12 months of EBITDA rose by 54.5% year over year as of last quarter. With strong growth expected to continue, its leverage ratio could improve quickly.
Broadcom Remains on Strong Footing
Overall, if Broadcom were to move forward with this private credit deal, its balance sheet would still be in good shape. That makes the idea that Broadcom is considering the deal to pursue growth initiatives not overly worrisome.
Notably, Broadcom shares gained significantly, by around 4.2%, on the day Bloomberg released this report. However, chip stocks in general showed strength that day, with the iShares Semiconductor ETF (NASDAQ: SOXX) rising more than 5%. At a minimum, this reaction suggests markets did not view the report as a major negative for Broadcom, consistent with this analysis. Still, it will be worth watching how the market reacts if the deal actually materializes.
3 Stocks Under $40 with Indirect Exposure to SpaceX IPO
Author: Chris Markoch. Date Posted: 5/27/2026.
Key Points
- Momentus, Redwire, and Intuitive Machines offer indirect exposure to the fast-growing SpaceX ecosystem ahead of the historic IPO.
- Redwire and Intuitive Machines are generating strong revenue growth through lunar missions, satellite systems, and government contracts.
- These space stocks under $40 remain speculative investments, but momentum is building as investors position for the SpaceX IPO.
- Special Report: Elon Musk already made me a “wealthy man”
SpaceX (NASDAQ: SPCX) filed its public S-1 on May 20. Now things are getting serious. The roadshow kicks off around June 4. If all goes as planned, a Nasdaq listing under a reported valuation of $1.75 trillion could happen as early as June 12.
It’s setting up to be the largest IPO in stock market history. But most retail investors won't get a share of it. And if they do, they’ll be paying a premium price.
The #1 stock to buy BEFORE the June 12th filing (Ad)
When the SpaceX IPO launches, most retail investors will be locked out. The banks, funds, and insiders get in early - while everyone else waits on the sidelines.
But one small infrastructure supplier - a critical piece Musk can't scale the Colossus network without - is still trading well under institutional radar. A new briefing reveals the name and ticker at no cost.
Get the SpaceX infrastructure stock name and ticker hereStill, there are attractive ways to invest in SpaceX-adjacent companies. Specifically, companies that are directly tied to the commercial space ecosystem SpaceX is building. Three of them—Momentus Inc. (NASDAQ: MNTS), Redwire (NYSE: RDW), and Intuitive Machines (NASDAQ: LUNR)—are all under $50 as of this writing. Each company is forecasting strong year-over-year revenue growth in 2026. However, none is profitable, so investors should expect volatility.
These stocks are seeing strong momentum ahead of the SpaceX IPO, with many trading at 52-week highs but also reaching overbought levels. Here’s what investors should know ahead of the SpaceX IPO.
MNTS: The Highest-Risk Bet on In-Orbit Services
Momentus is the smallest and most speculative of these three stocks. The micro-cap space infrastructure company has a market cap of around $200 million and just $1.1 million in trailing revenue. The story is compelling: its Vigoride Orbital Service Vehicle acts as an in-orbit delivery layer on top of SpaceX's Transporter rideshare missions. Specifically, SpaceX puts the payload in orbit, and Momentus shuttles it to its precise final destination.
This SpaceX connection is contractual. Vigoride 7 launched aboard SpaceX's Transporter-16 in late March 2026, hosting payloads for DARPA and commercial customers.
Vigoride 8 is already fully subscribed with NASA contracts and scheduled for 2027. Better still, Momentus has very little direct competition in its niche market.
The financial story is a classic pre-revenue growth bet. Management is forecasting $10 million in 2026 revenue, a 9x increase over 2025, driven by milestone-based contracts with NASA and the Department of Defense.
That said, the bear case is real. As of late April, Momentus had $26.2 million in cash on hand after the company retired its remaining convertible debt. This gives the company an estimated 12-month runway. Plus, short interest has risen by more than 600% over the past year and now accounts for roughly 20% of the float. A reverse stock split in late 2025 signals the company has been under financial stress.
RDW: The Picks-and-Shovels Play With Real Revenue
Redwire manufactures space infrastructure hardware—Roll-Out Solar Arrays, optical imaging systems, sun sensors, and spacecraft components—and has expanded into military drones through its Edge Autonomy acquisition. Its products are aboard NASA missions and Space Force programs. Its solar array technology is being positioned for lunar electrical grid systems tied to the Artemis program, which relies on SpaceX's Starship for lunar access.
In Q1 2026, Redwire posted revenue of $97 million, up 57.9% year-over-year, and ended the quarter with a record contracted backlog of $498.1 million—up 71% annually. A book-to-bill ratio of 1.92 means the company is booking nearly twice as much new business as it's recognizing in revenue.
Full-year 2026 guidance sits at $450–$500 million, roughly 42% growth at the midpoint. The gross margin trend (26.6% in Q1) and the deepening backlog suggest the fundamentals are real.
That said, RDW has already roughly doubled from its late-April lows. After that kind of run, the risk/reward is less favorable at current prices. The Redwire analyst forecasts on MarketBeat have a consensus Moderate Buy rating with an average price target of $14.22 as of this writing. A pullback toward the $13–$15 analyst consensus zone would represent a more balanced entry.
LUNR: The Flagship Space Play
Intuitive Machines is the most prominent name on this list for a reason: the company’s flagship product landed on the Moon. IM-1 in 2024, IM-2 in 2025. IM-4 and IM-5 are coming—both launching on SpaceX rockets.
However, the company has been rapidly transforming to move beyond a single revenue stream.
Its $800 million acquisition of Lanteris Space Systems expanded the company’s satellite manufacturing capabilities.
It also recently announced the acquisition of Goonhilly Earth Station and COMSAT, adding ground station and communications network assets.
Management issued full-year 2026 revenue guidance of $900 million to $1 billion—with positive adjusted EBITDA—underpinned by a $4.82 billion Near Space Network Services contract with NASA and a record $1.1 billion Q1 backlog.
The Intuitive Machines analyst forecasts on MarketBeat show 12 analysts covering LUNR, with a consensus Hold rating and a price target of $31.50, which is substantially below its price as of this writing. That’s because LUNR hit 52-week highs in May on SpaceX IPO momentum and reported record revenue, gross margin, and adjusted EBITDA in Q1.
Here’s where caution is warranted. LUNR trades at roughly 17x 2026 price-to-sales. That valuation prices in execution. Shareholders' equity is negative $333 million, and the company had significant cash burn in Q1 following the Lanteris deal. If the $900 million revenue guide slips, the multiple compression will be swift.
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