SpaceX Is 76x Bigger Than Google’s IPO. A $0.52 Pre-IPO Round Beside It. And the Metal Underneath the Whole Space Economy

76 times bigger than Google’s IPO. Here’s the part they didn’t announce

SpaceX’s S-1 went public. The numbers are in plain sight: $28.5 trillion claimed addressable market, $1.75 trillion IPO target, 76 times larger than Google’s debut.

Alphabet’s early stake, now worth an estimated $64 billion, was built when the doors were closed to you.

For the IPO itself, the doors technically open June 12…

And if you suspect the system rewards insiders first — you’re 100% right.

But this time there’s a side door. And it’s not the IPO.

The side door is the supplier Colossus physically cannot run without.

A company holding $1.5 billion in backlog — with data centers now driving nearly half its revenue — still priced by Wall Street as if AI doesn’t exist.

That gap is the trade. Not the $1.75 trillion headline. Not the ticker everyone will chase on June 12.

The one domestic manufacturer with arc-resistant power technology and a weeks-long lead time when competitors quote years.

One analyst found it. The name is in his report. Nobody else is talking about this company.

Three Ways to Read a $28.5 Trillion Number

SpaceX’s S-1 puts a remarkable figure in writing: a $28.5 trillion claimed total addressable market, anchoring a $1.75 trillion IPO target that is roughly 76 times the size of Google’s $23 billion debut in 2004. That comparison is mathematically accurate, and it’s also the setup for three very different investor responses, all on this week’s page. The first looks past the headline ticker to the supplier layer — the companies the Colossus and Starlink buildout physically can’t run without. The second steps entirely outside the SpaceX trade to a profitable pre-IPO company offering shares at $0.52. The third steps outside equities altogether, to the physical metal the space economy still depends on. Each is a different answer to the same question: how should a retirement investor position around the most-hyped listing in market history?

What this means for your retirement accounts: The 76x-Google comparison cuts both ways. Google at $23 billion in 2004 had enormous room to grow into a $2 trillion company. SpaceX listing at $1.75 trillion is starting where Google finished — which means the easy multiples that rewarded Google’s IPO buyers aren’t mechanically available here. That’s precisely why each of the three alternatives on this page exists: they’re all attempts to find the asymmetry that the headline ticker, at 76x Google’s starting valuation, may not offer.

The Supplier Layer: Where the Asymmetry May Actually Sit

The structural case for the supplier angle rests on a simple observation: when retail attention floods into a headline IPO, the companies that get paid regardless of where the headline name trades on day one are the ones holding critical infrastructure. xAI’s Colossus supercomputer in Memphis — 100,000 Nvidia H100 GPUs — requires enormous power-management hardware just to function, and the orbital buildout requires RF components, antennas, and arc-resistant electrical systems at a scale most investors never think about. The publisher behind this research describes a domestic manufacturer with roughly $1.5 billion in backlog, data centers now driving close to half its revenue, and a lead time measured in weeks where competitors quote years — yet still priced, in his framing, as if the AI buildout isn’t happening. STMicroelectronics offers a verified reference point for the category: Reuters confirmed in December 2025 it has shipped more than 5 billion RF antenna chips into Starlink since 2015.

What this means for your retirement accounts: The supplier framing sidesteps two of the biggest risks in buying SPCX directly — the 76x-Google opening valuation and Musk’s dual-class voting control — because a supplier is a separate public company with its own board and diversified customer base. The specific name is the publisher’s gated research; the category, anchored by verified names like STMicroelectronics, is real.

The Story Beside the Story: A $0.52 Pre-IPO Round

While SpaceX dominates the headlines, a different pre-IPO story has been quietly unfolding. Mode Mobile — the company behind the EarnOS platform that pays users for everyday smartphone activity — is offering pre-IPO shares at $0.52 while Wall Street watches rockets. The contrast is the entire pitch: instead of buying the most-hyped name at a 76x-Google valuation, this is a profitable company at fifty-two cents a share. The numbers are verifiable: 490 million users, $115 million+ in lifetime revenue, $11.8 million in actual 2025 EBITDA, and Deloitte’s #1 fastest-growing software ranking in North America at 32,481% three-year growth. Kevin Harrington, the original Shark Tank investor, frames it in terms his audience knows: just as Uber turned cars into cash and Airbnb turned spare rooms into revenue, Mode turns smartphones into devices that pay users back.

What this means for your retirement accounts: There’s even a SpaceX connection in the bull case: as Starlink eliminates connectivity dead zones globally, the addressable market for a platform like Mode’s expands into regions that never had reliable smartphone connectivity. Whether or not that thesis plays out, the immediate decision is simpler — a profitable pre-IPO company at $0.52, with the standard Reg A+ caveats, versus the 76x-Google headline name. Two previous rounds sold out entirely.

Three Positions, Three Different Risk Profiles

The three ideas on this page aren’t competing for the same dollar — they’re different tools for different parts of a portfolio. The supplier trade is indirect equity exposure to the SpaceX buildout without the opening-bell premium. The Mode pre-IPO round is a profitable, early-stage equity position entirely outside the SpaceX trade. And the third idea, which follows, steps outside equities altogether. Each carries its own risk: the supplier faces execution and competition risk; Mode carries Reg A+ illiquidity and the standard early-stage caveats; and the third — physical precious metals — carries opportunity cost and storage considerations. None is a substitute for the others.

$28.5 trillion on the table — and regular investors start at zero

SpaceX’s S-1 claims a $28.5 trillion addressable market and a $1.75 trillion IPO target — 76 times the size of Google’s 2004 debut. But one analyst argues the real trade isn’t the headline ticker everyone will chase on June 12. It’s the domestic manufacturer with arc-resistant power technology that the Colossus buildout physically can’t run without — roughly $1.5 billion in backlog, still priced as if AI doesn’t exist.

The Metal Underneath the Space Economy

There’s a genuinely under-appreciated fact buried in all the rocket coverage: the space economy still depends on gold. Gold is used throughout aerospace because it is exceptionally durable, highly conductive, corrosion-resistant, and able to protect sensitive electronics in the extreme temperature and radiation conditions of space. Satellite components, spacecraft connectors, and thermal-control surfaces all use gold precisely because no cheaper material matches its combination of properties. This isn’t marketing — it’s materials science. And it sets up the third framing on this page: while millions chase the next hot stock, the metal quietly helping build the next generation of technology is the same one people have trusted to preserve wealth for thousands of years. Gold has run roughly 65% over the past year, with JPMorgan projecting an average of $5,243/oz across 2026.

Why a Stock and a Bar of Gold Are Different Instruments

The cleanest way to think about the third idea is by contrast with the first two. A stock — whether SPCX, a supplier, or Mode — depends on management execution, market timing, earnings, and Wall Street sentiment. Physical gold depends on none of those. It doesn’t need a successful launch, a perfect IPO, or the market to agree with a trillion-dollar valuation; it simply holds value outside the paper system. That’s why a portion of a retirement portfolio in physical precious metals functions as a different kind of holding than any equity — not better or worse, but uncorrelated to the specific risks that equities carry. For retirement savers specifically, the mechanics of moving a portion of an eligible IRA or 401(k) into physical metals via a proper rollover are well-established and, done correctly, carry no immediate tax hit or penalty.

Why this matters if you’re retired or near retirement: A gold allocation is a diversification and preservation tool, not a growth engine — and it carries opportunity cost when equities run. The case for it isn’t that it’ll outperform SPCX; it’s that it behaves differently from everything else in the portfolio, which is exactly what diversification means. As always, confirm the rollover mechanics and any dealer’s terms carefully before acting.

Everyone Is Watching SpaceX. Smart Americans Are Watching Gold

SpaceX is preparing for what may be the biggest IPO in history — a reported $1.75 trillion to $2 trillion valuation, a Nasdaq debut, headlines on every financial news network.

But there is another story hiding underneath the hype: the space economy still depends on gold.

Gold is used in aerospace because it is durable, conductive, corrosion-resistant, and able to help protect sensitive systems in extreme conditions.

While millions chase the next hot stock, the metal quietly helping support the next generation of technology is the same metal people have trusted to preserve wealth for thousands of years.

A stock depends on management, market timing, earnings, and Wall Street sentiment. Physical gold does not. It doesn’t need a successful launch, a perfect IPO, or the market to agree with a trillion-dollar valuation — it simply holds value outside the paper system.

» See the metal SpaceX can’t fly without (and why it may protect your retirement)

This free report explains how you may be able to move a portion of an eligible IRA, 401(k), or retirement account into physical precious metals — no tax hit, no penalty, no need to start from scratch.

While everyone else is chasing the future of space, you can take a simple step to help protect your future here on Earth.

Bottom Line

SpaceX’s S-1 puts a $28.5 trillion addressable market and a $1.75 trillion IPO target in plain sight — roughly 76 times the size of Google’s $23 billion debut in 2004. That comparison cuts both ways: Google at $23 billion had room to become a $2 trillion company, while SpaceX is listing where Google finished. Three responses sit on this page, each looking for asymmetry the headline ticker may not offer: the supplier layer, a $0.52 pre-IPO round, and physical gold. All three briefings are free to read; the sizing is yours.

On the supplier side: the S-1 numbers are in plain sight, and if you suspect the system rewards insiders first, the historical record says you’re right — Alphabet’s early stakeholders built their positions when the doors were closed to retail. One analyst argues there’s a side door this time, and it isn’t the IPO. It’s the domestic manufacturer with arc-resistant power technology that the Colossus buildout physically can’t run without — a company with roughly $1.5 billion in backlog and data centers now driving nearly half its revenue, still priced, in his framing, as if AI doesn’t exist. The category is real — STMicroelectronics alone has shipped more than 5 billion chips into Starlink — though the specific name is his gated research.

On the Mode Mobile side: while everyone talks about SpaceX, 59,000+ investors quietly moved to a $0.52 pre-IPO round. Mode built EarnOS, a platform that pays 490 million users for everyday smartphone activity — what Kevin Harrington describes as turning smartphones into devices that pay you back, the way Uber turned cars into cash and Airbnb turned spare rooms into revenue. The numbers are verifiable: $115 million+ lifetime revenue, $11.8 million actual 2025 EBITDA, Deloitte’s #1 fastest-growing software ranking in North America at 32,481% three-year growth, $MODE reserved, two prior rounds sold out entirely. Pre-IPO shares remain at $0.52 until soon, with the standard Reg A+ caveats.

And on the gold side: everyone is watching SpaceX, but the space economy still depends on gold — durable, conductive, corrosion-resistant, used throughout aerospace because no cheaper material matches its properties. A stock depends on management, earnings, and Wall Street sentiment; physical gold doesn’t need a successful launch or a perfect IPO to hold its value outside the paper system. For retirement savers, moving a portion of an eligible IRA or 401(k) into physical metals via a proper rollover carries no immediate tax hit when done correctly — a diversification tool, not a growth engine. Forget the hot picks — protect what you’ve already built. Read the S-1, read all three briefings, size conservatively, and decide where you stand before the calendar decides for you. Because the best trade you’ll ever make is the loss you never took.