Yes, the Anthropic deal ($1.25B/month through 2029, ~$45B total) plus potential Google compute adds big recurring revenue and validates SpaceX's AI infra play. Starlink V3 (launching soon on Starship) will massively boost capacity, speeds, and growth.
These are real tailwinds and likely priced into the $1.75T IPO multiple. Tesla still trades at far lower ~15x sales with bigger asymmetric upside from robotaxi, Optimus, and energy scaling over 3 years. The gap narrows but doesn't flip.