{"id":18145,"date":"2026-06-03T22:24:20","date_gmt":"2026-06-03T13:24:20","guid":{"rendered":"https:\/\/jyakusyadansei.com\/?p=18145"},"modified":"2026-06-03T22:24:20","modified_gmt":"2026-06-03T13:24:20","slug":"spacex-ipo-2026%e5%b9%b4%e5%ae%8c%e5%85%a8%e8%a7%a3%e8%aa%ac%ef%bc%9a%e5%ae%87%e5%ae%99%e3%83%bbai%e3%83%bb%e9%98%b2%e8%a1%9b%e3%81%8c%e4%b8%80%e4%bd%93%e5%8c%96%e3%81%97%e3%81%9f%e3%80%8c%e5%8f%b2","status":"publish","type":"post","link":"https:\/\/jyakusyadansei.com\/?p=18145","title":{"rendered":"SpaceX IPO 2026\u5e74\u5b8c\u5168\u89e3\u8aac\uff1a\u5b87\u5b99\u30fbAI\u30fb\u9632\u885b\u304c\u4e00\u4f53\u5316\u3057\u305f\u300c\u53f2\u4e0a\u6700\u5927\u306e\u4e0a\u5834\u300d\u306b\u4e57\u308b\u3079\u304d\u304b\uff1f \u3010\u6bce\u6708500\u5186\u304b\u3089\u306eDC\u7a4d\u7acb\u30b7\u30df\u30e5\u30ec\u30fc\u30bf\u30fc\u4ed8\u304d\u3011"},"content":{"rendered":"

2026\u5e746\u670812\u65e5\u3001Nasdaq\u5e02\u5834\u306b\u300cSPCX\u300d\u3068\u3044\u3046\u30c6\u30a3\u30c3\u30ab\u30fc\u3067\u682a\u5f0f\u516c\u958b\uff08IPO\uff09\u304c\u4e88\u5b9a\u3055\u308c\u3066\u3044\u308bSpace Exploration Technologies Corp.\u2015\u2015\u3059\u306a\u308f\u3061SpaceX\u306f\u3001\u4e16\u754c\u306e\u8cc7\u672c\u5e02\u5834\u304c\u672a\u3060\u304b\u3064\u3066\u7d4c\u9a13\u3057\u305f\u3053\u3068\u306e\u306a\u3044\u898f\u6a21\u306e\u8cc7\u91d1\u8abf\u9054\u30a4\u30d9\u30f3\u30c8\u3068\u3057\u3066\u3001\u3044\u307e\u3084\u91d1\u878d\u754c\u306e\u5168\u8996\u7dda\u3092\u96c6\u3081\u3066\u304a\u308b\u3002\u76ee\u6a19\u8a55\u4fa1\u984d\u306f\u5f53\u521d\u306e2\u5146\u30c9\u30eb\u304b\u3089\u7d041\u51468,000\u5104\u30c9\u30eb\u3078\u3068\u5f15\u304d\u4e0b\u3052\u3089\u308c\u305f\u3082\u306e\u306e\u3001\u8cc7\u91d1\u8abf\u9054\u984d\u306f\u6700\u5927750\u5104\u30c9\u30eb\u306b\u9054\u3059\u308b\u898b\u8fbc\u307f\u3058\u3083\u30022019\u5e74\u306b\u30b5\u30a6\u30b8\u30a2\u30e9\u30e0\u30b3\u304c\u8a18\u9332\u3057\u305f290\u5104\u30c9\u30eb\u306eIPO\u3067\u3055\u3048\u3082\u8efd\u304f2\u500d\u4ee5\u4e0a\u3092\u51cc\u3050\u3001\u6587\u5b57\u901a\u308a\u6b74\u53f2\u7684\u306a\u6570\u5b57\u306a\u306e\u3058\u3083\u3002\uff8c\uff6b\uff8c\uff6b\u3002<\/p>\n

\n
\ud83e\uddf8 \u30c6\u30c7\u30a3<\/div>\n
\u3057\u308d\u304f\u307e\u3061\u3083\u3093\u3001SpaceX\u3063\u3066\u78ba\u304b\u30ed\u30b1\u30c3\u30c8\u4f1a\u793e\u3060\u3088\u306d\uff1f\u306a\u3093\u3067\u305d\u3093\u306a\u306b\u5927\u304d\u306a\u8a55\u4fa1\u306b\u306a\u308b\u306e\uff1f<\/div>\n<\/div>\n
\n
\ud83d\udc3b\u200d\u2744\ufe0f \u3057\u308d\u304f\u307e\u3061\u3083\u3093<\/div>\n
\uff8a\uff6f\uff8a\uff70\u3001\u3088\u3044\u554f\u3044\u3058\u3083\u3001\u30c6\u30c7\u30a3\u3088\u3002SpaceX\u306f\u3082\u306f\u3084\u300c\u30ed\u30b1\u30c3\u30c8\u4f1a\u793e\u300d\u3067\u306f\u306a\u3044\u306e\u3058\u3083\u3002\u885b\u661f\u30a4\u30f3\u30bf\u30fc\u30cd\u30c3\u30c8\uff08Starlink\uff09\u3001AI\u30b3\u30f3\u30d4\u30e5\u30fc\u30c6\u30a3\u30f3\u30b0\uff08xAI\uff09\u3001\u8ecd\u4e8b\u30fb\u9632\u885b\u30a4\u30f3\u30d5\u30e9\uff08Starshield\uff09\u3001\u305d\u3057\u3066\u706b\u661f\u8a08\u753b\u307e\u3067\u4e00\u624b\u306b\u62c5\u3046\u300c\u5730\u7403\u898f\u6a21\u306e\u30a4\u30f3\u30d5\u30e9\u5e1d\u56fd\u300d\u3078\u3068\u5909\u8c8c\u3092\u9042\u3052\u3066\u304a\u308b\u3093\u3058\u3083\u3088\u3002\u305d\u306e\u81ea\u79f0\u3059\u308b\u7372\u5f97\u53ef\u80fd\u5e02\u5834\uff08TAM\uff09\u306e\u5408\u8a08\u306f\u306a\u3093\u306828\u51465,000\u5104\u30c9\u30eb\u2015\u2015\u3053\u308c\u306f\u65e5\u672c\u306eGDP\u306e\u7d047\u500d\u306b\u3042\u305f\u308b\u305e\u3044\u3002<\/div>\n<\/div>\n
\n

\ud83d\udce1 \u7b2c1\u7ae0\uff1aStarlink\u3068\u3044\u3046\u9ec4\u91d1\u306e\u5375\u3092\u7523\u3080\u30cb\u30ef\u30c8\u30ea<\/h2>\n

SpaceX\u306e\u8ca1\u52d9\u3092\u8a9e\u308b\u3046\u3048\u3067\u3001\u307e\u305a\u7406\u89e3\u305b\u306d\u3070\u306a\u3089\u306c\u306e\u304cStarlink\u4e8b\u696d\u3058\u3083\u3002\u540c\u793e\u306eS-1\uff08\u4e0a\u5834\u7533\u8acb\u66f8\u985e\uff09\u304c\u521d\u3081\u3066\u958b\u793a\u3057\u305f\u8ca1\u52d9\u30c7\u30fc\u30bf\u306b\u3088\u308c\u3070\u30012025\u5e74\u306e\u9023\u7d50\u58f2\u4e0a\u9ad8\u306f186\u51047,000\u4e07\u30c9\u30eb\u3067\u524d\u5e74\u6bd443%\u5897\u3058\u3083\u304c\u3001\u305d\u306e\u3046\u3061\u7d0461%\u306b\u3042\u305f\u308b113\u51049,000\u4e07\u30c9\u30eb\u3092\u300cConnectivity\uff08\u901a\u4fe1\uff09\u300d\u30bb\u30b0\u30e1\u30f3\u30c8\u3001\u3064\u307e\u308aStarlink\u304c\u7a3c\u3044\u3067\u304a\u308b\u306e\u3058\u3083\u3002<\/p>\n

\n
\n
2025\u5e74\u9023\u7d50\u58f2\u4e0a\u9ad8<\/div>\n
$186.7\u5104<\/div>\n
\u524d\u5e74\u6bd4+43%<\/div>\n<\/div>\n
\n
Starlink\u58f2\u4e0a\uff082025\u5e74\uff09<\/div>\n
$113.9\u5104<\/div>\n
\u5168\u793e\u306e\u7d0461%<\/div>\n<\/div>\n
\n
Starlink\u52a0\u5165\u8005\u6570\uff082026\u5e742\u6708\uff09<\/div>\n
1,000\u4e07\u4eba<\/div>\n
2021\u5e74\u6bd41,000\u500d<\/div>\n<\/div>\n
\n
GAAP\u7d14\u640d\u5931\uff082025\u5e74\uff09<\/div>\n
$49.4\u5104<\/div>\n
\u7d2f\u7a4d\u8d64\u5b57$413\u5104<\/div>\n<\/div>\n<\/div>\n

\u52a0\u5165\u8005\u6570\u306e\u4f38\u3073\u306f\u58ee\u89b3\u306e\u4e00\u8a00\u3058\u3083\u30022021\u5e74\u306e\u30d9\u30fc\u30bf\u7248\u958b\u59cb\u6642\u306b\u306f\u308f\u305a\u304b1\u4e07\u4eba\u3060\u3063\u305f\u52a0\u5165\u8005\u304c\u30012025\u5e74\u672b\u306b\u306f900\u4e07\u4eba\u3092\u8d85\u3048\u30012026\u5e742\u6708\u306b\u306f1,000\u4e07\u4eba\u3092\u7a81\u7834\u3057\u305f\u3002\u4e00\u65b9\u3067\u3001\u6025\u901f\u306a\u666e\u53ca\u306b\u3064\u308c\u3066\u30e6\u30fc\u30b6\u30fc\u3042\u305f\u308a\u306e\u6708\u984d\u53ce\u76ca\uff08ARPU\uff09\u306f18%\u4f4e\u4e0b\u3057\u6708\u984d81\u30c9\u30eb\u3068\u306a\u3063\u3066\u304a\u308b\u3002\u5927\u91cf\u306e\u30e6\u30fc\u30b6\u30fc\u3092\u62b1\u3048\u306a\u304c\u3089\u3082\u3001\u30cf\u30fc\u30c9\u30a6\u30a7\u30a2\u8ca9\u58f2\u3084\u4f01\u696d\u30fb\u653f\u5e9c\u5411\u3051\u306e\u9ad8\u5358\u4fa1\u5951\u7d04\u304c\u5e95\u4e0a\u3052\u3057\u3066\u3044\u308b\u69cb\u9020\u3058\u3083\u306e\u3002<\/p>\n

\n
\ud83e\uddf8 \u30c6\u30c7\u30a3<\/div>\n
\u3067\u3082\u58f2\u4e0a\u304c\u5897\u3048\u3066\u308b\u306e\u306b\u7d14\u640d\u593149\u5104\u30c9\u30eb\u3063\u3066\u3001\u3069\u3046\u3044\u3046\u3053\u3068\uff1f\u8d64\u5b57\u306a\u306e\u306b\u8a55\u4fa1\u984d\u304c1.8\u5146\u30c9\u30eb\uff1f\u306a\u3093\u304b\u77db\u76fe\u3057\u3066\u308b\u6c17\u304c\u3059\u308b\u3093\u3060\u3051\u3069\u2026<\/div>\n<\/div>\n
\n
\ud83d\udc3b\u200d\u2744\ufe0f \u3057\u308d\u304f\u307e\u3061\u3083\u3093<\/div>\n
\u3059\u308b\u3069\u3044\u306e\u3001\u30c6\u30c7\u30a3\u3002\u3058\u3083\u304c\u3053\u308c\u306f\u77db\u76fe\u3067\u306f\u306a\u304f\u3001\u300c\u610f\u56f3\u7684\u306a\u6295\u8cc7\u30e2\u30fc\u30c9\u300d\u3068\u3044\u3046\u308f\u3051\u3058\u3083\u3002Starlink\u304c\u7a3c\u3044\u3060\u30ad\u30e3\u30c3\u30b7\u30e5\u306f\u3001xAI\uff08\u4eba\u5de5\u77e5\u80fd\uff09\u4e8b\u696d\u3068Starship\uff08\u6b21\u4e16\u4ee3\u30ed\u30b1\u30c3\u30c8\uff09\u306e\u958b\u767a\u8cbb\u3068\u3057\u3066\u60dc\u3057\u307f\u306a\u304f\u71c3\u3084\u3055\u308c\u3066\u304a\u308b\u30022025\u5e74\u3060\u3051\u3067Starship\u306e\u7814\u7a76\u958b\u767a\u306b30\u5104\u30c9\u30eb\u4ee5\u4e0a\u3001AI\u90e8\u9580\u3067\u306f63\u51045,000\u4e07\u30c9\u30eb\u3082\u306e\u55b6\u696d\u640d\u5931\u3092\u51fa\u3057\u3066\u304a\u308b\u305e\u3044\u3002\u307e\u308b\u3067Amazon\u304c\u521d\u671f\u306e\u4f55\u5e74\u3082\u8d64\u5b57\u899a\u609f\u3067\u7269\u6d41\u7db2\u3092\u7bc9\u3044\u305f\u306e\u3068\u540c\u3058\u6226\u7565\u3058\u3083\u306e\u3002<\/div>\n<\/div>\n
\n

\ud83e\udd16 \u7b2c2\u7ae0\uff1axAI\u7d71\u5408\u3068\u3044\u3046\u6700\u5927\u306e\u8ced\u3051\u3001\u305d\u3057\u3066Anthropic\u3068\u306e\u79d8\u5bc6\u306e\u5951\u7d04<\/h2>\n

2026\u5e742\u6708\u3001SpaceX\u306f\u30a4\u30fc\u30ed\u30f3\u30fb\u30de\u30b9\u30af\u6c0f\u304c\u5275\u696d\u3057\u305fAI\u4f01\u696d\u300cxAI\u300d\u3092\u5168\u682a\u5f0f\u53d6\u5f97\u306b\u3088\u308a\u5438\u53ce\u5408\u4f75\u3057\u305f\u3002\u5408\u4f75\u6642\u306exAI\u306e\u8a55\u4fa1\u984d\u306f\u7d04800\u5104\u30c9\u30eb\u3067\u3042\u308a\u3001\u3053\u306e\u7d71\u5408\u306b\u3088\u3063\u3066SpaceX\u306e\u8a55\u4fa1\u984d\u306f\u4e00\u6c17\u306b1\u51462,500\u5104\u30c9\u30eb\u3078\u3068\u8df3\u306d\u4e0a\u304c\u3063\u305f\u306e\u3058\u3083\u3002<\/p>\n

\u305d\u3057\u3066\u6700\u3082\u6ce8\u76ee\u3059\u3079\u304d\u300c\u79d8\u5bc6\u306e\u5951\u7d04\u300d\u304c\u3042\u308b\u3002SpaceX\u304c\u30c6\u30cd\u30b7\u30fc\u5dde\u30e1\u30f3\u30d5\u30a3\u30b9\u306b\u5efa\u8a2d\u4e2d\u306e\u5de8\u5927AI\u30c7\u30fc\u30bf\u30bb\u30f3\u30bf\u30fc\u300cColossus 1\u300d\u304a\u3088\u3073\u300cColossus 2\u300d\u306e\u8a08\u7b97\u80fd\u529b\u3092\u3001\u306a\u3093\u3068\u30e9\u30a4\u30d0\u30ebAI\u4f01\u696d\u306eAnthropic\u306b\u63d0\u4f9b\u3059\u308b\u3068\u3044\u3046\u30af\u30e9\u30a6\u30c9\u5951\u7d04\u3058\u3083\u3002\u5185\u5bb9\u306fAnthropic\u304c2029\u5e745\u6708\u307e\u3067\u6708\u984d12\u51045,000\u4e07\u30c9\u30eb\uff08\u7dcf\u984d450\u5104\u30c9\u30eb\u898f\u6a21\uff09\u3092\u652f\u6255\u3046\u3068\u3044\u3046\u3082\u306e\u3002<\/p>\n

\n
\ud83d\udc3b\u200d\u2744\ufe0f\u3063\uff8b\uff9f\uff7c\uff6f\u3000\u3053\u3053\u91cd\u8981\u3058\u3083<\/div>\n

\u3068\u3053\u308d\u304c\u3058\u3083\u3001\u30de\u30b9\u30af\u6c0f\u672c\u4eba\u304cSNS\u300cX\u300d\u4e0a\u3067\u3053\u306e\u5951\u7d04\u306b\u3064\u3044\u3066\u300c\u5b9f\u969b\u306f180\u65e5\u9593\u306e\u30ea\u30fc\u30b9\u5951\u7d04\u3067\u300190\u65e5\u524d\u901a\u77e5\u3067\u76f8\u4e92\u30ad\u30e3\u30f3\u30bb\u30eb\u53ef\u80fd\u300d\u3068\u767a\u8a00\u3057\u3066\u304a\u308b\u3002S-1\u306b\u8a18\u8f09\u3055\u308c\u305f\u9577\u671f\u5951\u7d04\u306e\u5185\u5bb9\u3068\u306f\u5927\u304d\u304f\u98df\u3044\u9055\u3046\u306e\u3058\u3083\u3002\u6295\u8cc7\u5bb6\u3068\u3057\u3066\u3001\u3053\u306e\u30ae\u30e3\u30c3\u30d7\u306f\u51b7\u9759\u306b\u898b\u3066\u304a\u304b\u306d\u3070\u306a\u3089\u306c\u305e\u3044\u3002<\/p>\n<\/div>\n

\n
\ud83e\uddf8 \u30c6\u30c7\u30a3<\/div>\n
\u306a\u3093\u3067\u7af6\u5408\u306eAnthropic\u306b\u30c7\u30fc\u30bf\u30bb\u30f3\u30bf\u30fc\u3092\u8cb8\u3059\u306e\uff1f\u4ef2\u9593\u3058\u3083\u306a\u3044\u306f\u305a\u306a\u306e\u306b\u3002<\/div>\n<\/div>\n
\n
\ud83d\udc3b\u200d\u2744\ufe0f \u3057\u308d\u304f\u307e\u3061\u3083\u3093<\/div>\n
\uff8c\uff6b\uff8c\uff6b\u3001\u305d\u308c\u304c\u9762\u767d\u3044\u3068\u3053\u308d\u3058\u3083\u3088\u3002SpaceX\u306fIPO\u3092\u524d\u306b\u3057\u3066\u8ca1\u52d9\u306e\u300c\u898b\u305f\u76ee\u300d\u3092\u826f\u304f\u3059\u308b\u305f\u3081\u3001\u3042\u308b\u3044\u306f\u300cGPU\u3092\u8cb8\u3057\u3066\u3082\u63a1\u7b97\u304c\u5408\u3046\u300d\u3053\u3068\u3092\u6295\u8cc7\u5bb6\u306b\u793a\u3059\u305f\u3081\u306e\u6226\u7565\u7684\u306a\u8cb8\u3057\u51fa\u3057\u3068\u898b\u3089\u308c\u3066\u304a\u308b\u3002\u305f\u3060\u3057\u9577\u671f\u7684\u306b\u306f\u3001SpaceX\u81ea\u8eab\u304cGrok\u306e\u8a13\u7df4\u3001\u81ea\u5f8b\u98db\u884c\u5236\u5fa1\u3001\u3055\u3089\u306b\u306f2028\u5e74\u6253\u3061\u4e0a\u3052\u4e88\u5b9a\u306e\u300cAI\u8a08\u7b97\u885b\u661f\u300d\u306e\u305f\u3081\u306b\u305d\u306eGPU\u8cc7\u6e90\u3092\u5168\u90e8\u4f7f\u3046\u5fc5\u8981\u304c\u51fa\u3066\u304f\u308b\u3068\u4e88\u6e2c\u3055\u308c\u3066\u304a\u308b\u306e\u3058\u3083\u3002Anthropic\u306fSpaceX\u304b\u3089\u8a08\u7b97\u8cc7\u6e90\u3092\u501f\u308a\u3001SpaceX\u306f\u305d\u306e\u53ce\u76ca\u3067GPU\u3078\u306e\u5de8\u5927\u6295\u8cc7\u3092\u6b63\u5f53\u5316\u3057\u3066\u3044\u308b\u2015\u2015\u3044\u308f\u3070\u304a\u4e92\u3044\u304c\u4e00\u6642\u7684\u306a\u300c\u5171\u751f\u300d\u3092\u3057\u3066\u304a\u308b\u308f\u3051\u3058\u3083\u306e\u3002<\/div>\n<\/div>\n
\n

\ud83c\udf0c \u7b2c3\u7ae0\uff1a\u5b87\u5b99\u6253\u3061\u4e0a\u3052\u5e02\u5834\u306e\u72ec\u5360\u3068\u7af6\u5408\u306e\u5b9f\u614b<\/h2>\n

SpaceX\u306e\u6253\u3061\u4e0a\u3052\u80fd\u529b\u306f\u3001\u7af6\u5408\u4ed6\u793e\u3068\u6bd4\u8f03\u3059\u308b\u3068\u5b8c\u5168\u306b\u5225\u6b21\u5143\u306e\u8a71\u3058\u3083\u30022025\u5e74\u3001SpaceX\u306f\u5168\u4e16\u754c\u306e\u8ecc\u9053\u6295\u5165\u8cea\u91cf\u306e80%\u4ee5\u4e0a\u306b\u3042\u305f\u308b2,213\u30c8\u30f3\u3092\u5b87\u5b99\u306b\u904b\u3093\u3060\u3002\u7d043\u65e5\u306b1\u56de\u3068\u3044\u3046\u983b\u5ea6\u3067\u306e\u6253\u3061\u4e0a\u3052\u3092\u5b9f\u73fe\u3057\u3001\u901a\u7b97\u306e\u6210\u529f\u7387\u306f99%\u3092\u8d85\u3048\u3066\u304a\u308b\u3002<\/p>\n

\n\n\n\n\n\n\n\n
\u6307\u6a19<\/th>\nSpaceX<\/th>\nBlue Origin<\/th>\nRocket Lab<\/th>\n<\/tr>\n<\/thead>\n
2025\u5e74\u6253\u3061\u4e0a\u3052\u56de\u6570<\/td>\n165\u56de<\/td>\n\u6570\u56de<\/td>\n21\u56de<\/td>\n<\/tr>\n
\u6253\u3061\u4e0a\u3052\u6210\u529f\u7387<\/td>\n99%\u4ee5\u4e0a<\/td>\n67%<\/td>\n94%\u4ee5\u4e0a<\/td>\n<\/tr>\n
\u30d6\u30fc\u30b9\u30bf\u30fc\u56de\u53ce\u5b9f\u7e3e<\/td>\n280\u56de\u4ee5\u4e0a<\/td>\n2\u56de<\/td>\n\u4e00\u90e8\u306e\u307f<\/td>\n<\/tr>\n
2025\u5e74R&D\u6295\u8cc7<\/td>\n\u7d0495\u5104\u30c9\u30eb<\/td>\n\u975e\u516c\u958b<\/td>\n\u7d042.7\u5104\u30c9\u30eb<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n

Blue Origin\u306f2025\u5e74\u3001\u5927\u578b\u30ed\u30b1\u30c3\u30c8\u300cNew Glenn\u300d\u3067\u7c73\u5b87\u5b99\u8ecd\u304b\u3089\u306e\u6253\u3061\u4e0a\u3052\u53d7\u6ce8\u3092\u52dd\u3061\u53d6\u3063\u305f\u76f4\u5f8c\u306b\u30ed\u30b1\u30c3\u30c8\u304c\u7206\u767a\u3059\u308b\u3068\u3044\u3046\u81f4\u547d\u7684\u306a\u4e8b\u6545\u3092\u8d77\u3053\u3057\u305f\u306e\u3058\u3083\u3002\u3053\u308c\u306b\u3088\u308aSpaceX\u306e\u8ecd\u4e8b\u30fb\u5546\u696d\u6253\u3061\u4e0a\u3052\u306b\u304a\u3051\u308b\u72ec\u5360\u7684\u5730\u4f4d\u306f\u3055\u3089\u306b\u76e4\u77f3\u306a\u3082\u306e\u3068\u306a\u3063\u305f\u3002Rocket Lab\u306fElectron\u30ed\u30b1\u30c3\u30c8\u3067\u7740\u5b9f\u306b\u5b9f\u7e3e\u3092\u7a4d\u307f\u4e0a\u3052\u3066\u304a\u308b\u304c\u3001\u6642\u4fa1\u7dcf\u984d857\u5104\u30c9\u30eb\u30fb2025\u5e74\u58f2\u4e0a6.2\u5104\u30c9\u30eb\u3068SpaceX\u3068\u306f\u30b1\u30bf\u304c\u9055\u3044\u904e\u304e\u308b\u3002\u7af6\u5408\u304c\u3044\u308b\u3068\u306f\u8a00\u3044\u304c\u305f\u3044\u72b6\u6cc1\u3058\u3083\u306e\u3002<\/p>\n

\ud83d\ude80 Starship V3\uff1a\u53f2\u4e0a\u6700\u5927\u306e\u30ed\u30b1\u30c3\u30c8\u306e\u73fe\u5728\u5730<\/h3>\n

2026\u5e745\u670822\u65e5\u3001\u30c6\u30ad\u30b5\u30b9\u5ddeStarbase\u306e\u65b0\u8a2dPad 2\u304b\u3089\u300cStarship V3\u300d\u306b\u3088\u308b\u7b2c12\u56de\u98db\u884c\u8a66\u9a13\u304c\u5b9f\u65bd\u3055\u308c\u305f\u300222\u6a5f\u306e\u30c0\u30df\u30fcStarlink\u885b\u661f\u3092\u642d\u8f09\u3057\u3066\u3053\u308c\u307e\u3067\u6700\u91cd\u91cf\u306e\u30da\u30a4\u30ed\u30fc\u30c9\u3092\u5b87\u5b99\u3078\u904b\u3076\u3053\u3068\u306b\u6210\u529f\u3057\u305f\u304c\u3001\u7b2c1\u6bb5\u30d6\u30fc\u30b9\u30bf\u30fc\u306f\u5236\u5fa1\u4e0d\u80fd\u3067\u30e1\u30ad\u30b7\u30b3\u6e7e\u306b\u589c\u843d\u3057\u3001\u4e0a\u6bb5\u306e\u307f\u304c\u30a4\u30f3\u30c9\u6d0b\u3078\u306e\u7740\u6c34\u8ecc\u9053\u306b\u4e57\u308b\u3068\u3044\u3046\u300c\u90e8\u5206\u7684\u6210\u529f\u300d\u306b\u7d42\u308f\u3063\u305f\u306e\u3058\u3083\u3002\u5b8c\u5168\u518d\u5229\u7528\u306e\u5b9f\u73fe\u306b\u306f\u307e\u3060\u6642\u9593\u3092\u8981\u3059\u308b\u304c\u3001\u91cd\u8981\u306a\u306e\u306f\u3053\u306eStarship\u304cNASA\u306e2028\u5e74\u6709\u4eba\u6708\u9762\u7740\u9678\u8a08\u753b\u300cArtemis 4\u300d\u306e\u7740\u9678\u8239\u3068\u3057\u3066\u6307\u5b9a\u3055\u308c\u3066\u304a\u308b\u3068\u3044\u3046\u3053\u3068\u3058\u3083\u30021\u51467,000\u5104\u30c9\u30eb\u898f\u6a21\u306e\u56fd\u5bb6\u30d7\u30ed\u30b8\u30a7\u30af\u30c8\u304cSpaceX\u306e\u6a5f\u4f53\u306b\u59d4\u306d\u3089\u308c\u3066\u304a\u308b\u306e\u3058\u3083\u3088\u3002<\/p>\n

\n

\ud83d\udee1\ufe0f \u7b2c4\u7ae0\uff1aStarshield\u3068\u3044\u3046\u300c\u56fd\u5bb6\u30a4\u30f3\u30d5\u30e9\u300d\u5316\u306e\u5b8c\u6210<\/h2>\n

IPO\u76f4\u524d\u306e2026\u5e745\u6708\u4e0b\u65ec\u3001SpaceX\u306f\u7c73\u5b87\u5b99\u8ecd\u304b\u3089\u6570\u65e5\u306e\u3046\u3061\u306b\u5408\u8a0864\u51045,000\u4e07\u30c9\u30eb\u306b\u53ca\u30762\u3064\u306e\u5de8\u5927\u9632\u885b\u5951\u7d04\u3092\u53d7\u6ce8\u3057\u305f\u3002<\/p>\n

\n
\ud83d\udccb \u5951\u7d04\u306e\u4e2d\u8eab<\/div>\n

\u2460 SB-AMTI\u30d7\u30ed\u30b0\u30e9\u30e0\uff0841\u51046,000\u4e07\u30c9\u30eb\uff09\uff1a<\/strong>\u5916\u56fd\u306e\u30df\u30b5\u30a4\u30eb\u3084\u822a\u7a7a\u6a5f\u3092\u5b87\u5b99\u304b\u3089\u63a2\u77e5\u30fb\u8ffd\u8de1\u3059\u308b\u30bb\u30f3\u30b5\u30fc\u7db2\u306e\u69cb\u7bc9\u3002\u300cGolden Dome\uff08\u30b4\u30fc\u30eb\u30c7\u30f3\u30c9\u30fc\u30e0\uff09\u300d\u30df\u30b5\u30a4\u30eb\u9632\u885b\u69cb\u60f3\u306e\u6838\u5fc3\u90e8\u5206\u3058\u3083\u3002<\/p>\n

\u2461 Space Data Network Backbone\uff0822\u51049,000\u4e07\u30c9\u30eb\uff09\uff1a<\/strong>Starshield\u885b\u661f\u3092\u6d3b\u7528\u3057\u305f\u5168\u7403\u898f\u6a21\u306e\u5b89\u5168\u306a\u4f4e\u8ecc\u9053\u5149\u901a\u4fe1\u30e1\u30c3\u30b7\u30e5\u30cd\u30c3\u30c8\u30ef\u30fc\u30af\u30022027\u5e74\u672b\u307e\u3067\u306e\u30d7\u30ed\u30c8\u30bf\u30a4\u30d7\u7d0d\u5165\u304c\u7fa9\u52d9\u4ed8\u3051\u3089\u308c\u3066\u304a\u308b\u3002<\/p>\n<\/div>\n

\n
\ud83e\uddf8 \u30c6\u30c7\u30a3<\/div>\n
\u9632\u885b\u5951\u7d04\u304c\u305d\u3093\u306a\u306b\u3059\u3054\u3044\u306e\uff1f<\/div>\n<\/div>\n
\n
\ud83d\udc3b\u200d\u2744\ufe0f \u3057\u308d\u304f\u307e\u3061\u3083\u3093<\/div>\n
\u3053\u308c\u306f\u5358\u306a\u308b\u58f2\u4e0a\u5897\u52a0\u3067\u306f\u306a\u3044\u306e\u3058\u3083\u3002\u7c73\u56fd\u306e\u5b89\u5168\u4fdd\u969c\u30a4\u30f3\u30d5\u30e9\u306e\u6839\u5e79\u306bSpaceX\u306e\u6280\u8853\u304c\u7d44\u307f\u8fbc\u307e\u308c\u308b\u3053\u3068\u3067\u3001\u300c\u653f\u5e9c\u306fSpaceX\u3092\u7d76\u5bfe\u306b\u624b\u653e\u305b\u306a\u3044\u300d\u3068\u3044\u3046\u4e0d\u53ef\u9006\u306a\u72b6\u6cc1\u304c\u751f\u307e\u308c\u308b\u306e\u3058\u3083\u30022025\u5e74\u306e\u58f2\u4e0a\u306e\u7d043\u5206\u306e1\u300159\u5104\u30c9\u30eb\u304cNASA\u3092\u542b\u3080\u7c73\u56fd\u653f\u5e9c\u304b\u3089\u306e\u53ce\u5165\u3058\u3083\u3002\u3055\u3089\u306b\u5c06\u6765\u306eStarshield\u885b\u661f\u306f\u8fce\u6483\u30df\u30b5\u30a4\u30eb\u3084\u6307\u5411\u6027\u30a8\u30cd\u30eb\u30ae\u30fc\u5175\u5668\u3092\u642d\u8f09\u3059\u308b\u53ef\u80fd\u6027\u307e\u3067\u6307\u6458\u3055\u308c\u3066\u304a\u308a\u3001SpaceX\u306f\u5b87\u5b99\u306e\u300c\u30bb\u30f3\u30b5\u30fc\u300d\u304b\u3089\u300c\u30b7\u30e5\u30fc\u30bf\u30fc\u300d\u3001\u300c\u901a\u4fe1\u7db2\u300d\u307e\u3067\u4e00\u624b\u306b\u62c5\u3046\u30da\u30f3\u30bf\u30b4\u30f3\u306e\u5207\u308a\u96e2\u3057\u4e0d\u53ef\u80fd\u306a\u30d1\u30fc\u30c8\u30ca\u30fc\u306b\u306a\u308a\u3064\u3064\u3042\u308b\u306e\u3058\u3083\u3088\u3002\u3053\u308c\u304c\u6700\u5927\u306e\u300c\u4e0b\u5024\u652f\u6301\u7dda\u300d\u306b\u306a\u3063\u3066\u304a\u308b\u305e\u3044\u3002<\/div>\n<\/div>\n
\n

\u26a0\ufe0f \u7b2c5\u7ae0\uff1a96\u500d\u306ePSR\u3001\u30ac\u30d0\u30ca\u30f3\u30b9\u30ea\u30b9\u30af\u3001Tesla\u3068\u306e\u5408\u4f75\u89b3\u6e2c<\/h2>\n

\u3053\u3053\u304b\u3089\u306f\u51b7\u9759\u306b\u300c\u30ea\u30b9\u30af\u306e\u6838\u5fc3\u300d\u3092\u898b\u3066\u3044\u304b\u306a\u3051\u308c\u3070\u306a\u3089\u306c\u306e\u3058\u3083\u3002\u3069\u308c\u307b\u3069\u5922\u306e\u3042\u308b\u30d3\u30b8\u30e7\u30f3\u3067\u3042\u3063\u3066\u3082\u3001\u30ea\u30b9\u30af\u3092\u76f4\u8996\u305b\u305a\u306b\u6295\u8cc7\u3059\u308b\u3053\u3068\u306f\u3067\u304d\u306a\u3044\u304b\u3089\u306e\u3002<\/p>\n

\n
\n
\ud83d\udfe2 \u5f37\u6c17\u306e\u6839\u62e0<\/div>\n
Starlink\u306e\u5727\u5012\u7684\u53ce\u76ca\u57fa\u76e4\uff08\u5e74\u5546113.9\u5104\u30c9\u30eb\uff09\u30fb\u6253\u3061\u4e0a\u3052\u5e02\u5834\u306e\u4e8b\u5b9f\u4e0a\u306e\u72ec\u5360\u30fb\u9632\u885b\u5951\u7d04\u306b\u3088\u308b\u5b89\u5b9a\u30ad\u30e3\u30c3\u30b7\u30e5\u30fb\u30a4\u30f3\u30c7\u30c3\u30af\u30b9\u65e9\u671f\u7d44\u307f\u5165\u308c\u306b\u3088\u308b\u8cb7\u3044\u5727\u529b\u30fbStarship\u00d7Artemis\u8a08\u753b\u306e\u56fd\u5bb6\u7684\u91cd\u8981\u6027<\/div>\n<\/div>\n
\n
\ud83d\udd34 \u5f31\u6c17\u306e\u6839\u62e0<\/div>\n
PSR96\u500d\u3068\u3044\u3046\u904e\u53bb\u306b\u4f8b\u306e\u306a\u3044\u5272\u9ad8\u6c34\u6e96\u30fbGAAP\u7d14\u640d\u593149.4\u5104\u30c9\u30eb\uff08\u7d2f\u7a4d413\u5104\u30c9\u30eb\uff09\u30fb\u30de\u30b9\u30af\u6c0f\u304c\u8b70\u6c7a\u6a2985%\u3092\u638c\u63e1\u3059\u308b\u652f\u914d\u69cb\u9020\u30fbxAI\u304c\u751f\u307f\u51fa\u3059\u83ab\u5927\u306a\u30ad\u30e3\u30c3\u30b7\u30e5\u30d0\u30fc\u30f3\u30fbMorningstar\u9069\u6b63\u8a55\u4fa17,800\u5104\u30c9\u30eb\u3068\u5e02\u5834\u4fa1\u683c\u306e1\u5146\u30c9\u30eb\u8d85\u306e\u4e56\u96e2<\/div>\n<\/div>\n<\/div>\n

\ud83c\udfed Tesla\u3068\u306e\u5408\u4f75\u30b7\u30ca\u30ea\u30aa\uff1a\u8d77\u3053\u308b\u304b\u5426\u304b<\/h3>\n

\u5e02\u5834\u3067\u6025\u901f\u306b\u73fe\u5b9f\u5473\u3092\u5e2f\u3073\u3066\u3044\u308b\u306e\u304c\u3001SpaceX\u3068Tesla\uff08TSLA\uff09\u306e\u5408\u4f75\u89b3\u6e2c\u3058\u3083\u3002\u4e88\u6e2c\u5e02\u5834Kalshi\u306f2027\u5e745\u67081\u65e5\u307e\u3067\u306b\u5408\u4f75\u304c\u5b8c\u4e86\u3059\u308b\u78ba\u7387\u309250%\u4ee5\u4e0a\u3068\u898b\u7a4d\u3082\u3063\u3066\u304a\u308a\u3001Wedbush\u306e\u30a2\u30ca\u30ea\u30b9\u30c8Dan Ives\u6c0f\u306f\u300c\u6765\u5e74\u306b\u3082\u5408\u4f75\u304c\u8d77\u3053\u308a\u5f97\u308b\u300d\u3068\u4e88\u6e2c\u3057\u3066\u304a\u308b\u30021\u51464,000\u5104\u30c9\u30eb\u306eTesla\u30681\u51468,000\u5104\u30c9\u30eb\u306eSpaceX\u304c\u5408\u4f53\u3059\u308c\u3070\u3001\u7406\u8ad6\u4e0a\u306e\u4f01\u696d\u4fa1\u5024\u306f3\u51462,000\u5104\u30c9\u30eb\u306b\u9054\u3059\u308b\u3002<\/p>\n

\u3057\u304b\u3057\u3058\u3083\u3001\u30de\u30b9\u30af\u6c0f\u304cSpaceX\u306e\u8b70\u6c7a\u6a2985%\u3092\u63e1\u308b\u4e00\u65b9\u3067Tesla\u306e\u8b70\u6c7a\u6a29\u306f\u7d0420%\u3057\u304b\u6301\u3063\u3066\u3044\u306a\u3044\u3068\u3044\u3046\u300c\u6240\u6709\u6a29\u306e\u30ae\u30e3\u30c3\u30d7\u300d\u304c\u3001\u682a\u5f0f\u4ea4\u63db\u6bd4\u7387\u306e\u516c\u6b63\u306a\u7b97\u5b9a\u3092\u6975\u3081\u3066\u96e3\u3057\u304f\u3059\u308b\u306e\u3058\u3083\u3002\u307e\u305f\u3001\u30b3\u30f3\u30b0\u30ed\u30de\u30ea\u30c3\u30c8\uff08\u8907\u5408\u4f01\u696d\u4f53\uff09\u306f\u5e02\u5834\u304b\u3089\u300c\u8907\u5408\u4f01\u696d\u4f53\u5272\u5f15\u300d\u3092\u53d7\u3051\u3084\u3059\u304f\u3001\u5408\u4f75\u5f8c\u306e\u4f01\u696d\u4fa1\u5024\u304c\u5408\u7b97\u5024\u3092\u4e0b\u56de\u308b\u30ea\u30b9\u30af\u3082\u5426\u5b9a\u3067\u304d\u306a\u3044\u306e\u3058\u3083\u3088\u3002<\/p>\n

\n
\ud83d\udc3b\u200d\u2744\ufe0f\u3063\uff8b\uff9f\uff7c\uff6f\u3000\u30ac\u30d0\u30ca\u30f3\u30b9\u30ea\u30b9\u30af\u306f\u898b\u9003\u3059\u306a<\/div>\n

\u30de\u30b9\u30af\u6c0f\u306fIPO\u5f8c\u3082\u4e8c\u91cd\u682a\u5f0f\u69cb\u9020\uff08\u30af\u30e9\u30b9B\u306f1\u682a10\u8b70\u6c7a\u6a29\uff09\u3092\u901a\u3058\u3066\u8b70\u6c7a\u6a29\u306e\u7d0485%\u3092\u638c\u63e1\u3059\u308b\u3002xAI\u7d71\u5408\u3001Tesla\u304b\u3089SpaceX\u3078\u306e20\u5104\u30c9\u30eb\u51fa\u8cc7\u3001\u4e21\u793e\u5171\u540c\u306e\u534a\u5c0e\u4f53\u65bd\u8a2d\u300cTerafab\u300d\u958b\u767a\u306a\u3069\u3001\u516c\u958b\u4f01\u696d\u3068\u3057\u3066\u306e\u72ec\u7acb\u59d4\u54e1\u4f1a\u30d7\u30ed\u30bb\u30b9\u306a\u3057\u306b\u5b9f\u884c\u3055\u308c\u305f\u6848\u4ef6\u304c\u65e2\u306b\u8907\u6570\u5b58\u5728\u3059\u308b\u306e\u3058\u3083\u3002\u307e\u305f2025\u5e74\u306bSpaceX\u304cTesla\u306e\u30b5\u30a4\u30d0\u30fc\u30c8\u30e9\u30c3\u30af\u3092\u5b9a\u4fa1\u3067\u7d041\u51043,100\u4e07\u30c9\u30eb\u5206\u8cfc\u5165\u3057\u3066\u3044\u305f\u3053\u3068\u3082\u660e\u3089\u304b\u306b\u306a\u3063\u3066\u304a\u308a\u3001\u5229\u76ca\u76f8\u53cd\u306f\u300c\u307b\u307c\u907f\u3051\u3089\u308c\u306a\u3044\u300d\u3068\u3044\u3046\u6307\u6458\u304c\u3042\u308b\u3002\u3055\u3089\u306bSpaceX\u304c18,712BTC\uff08\u7d0413\u5104\u301c15\u5104\u30c9\u30eb\u76f8\u5f53\uff09\u306e\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u3092\u4fdd\u6709\u3057\u3066\u3044\u308b\u3053\u3068\u3082\u521d\u3081\u3066\u958b\u793a\u3055\u308c\u305f\u306e\u3058\u3083\u3002<\/p>\n<\/div>\n

\n

\ud83d\udcca \u7b2c6\u7ae0\uff1aTAM\u306e\u5185\u8a33\u3068\u300c\u5b87\u5b99\u30a4\u30f3\u30d5\u30e9\u5e1d\u56fd\u300d\u306e\u8a2d\u8a08\u56f3<\/h2>\n

SpaceX\u304c\u81ea\u3089\u5b9a\u7fa9\u3057\u305f28\u51465,000\u5104\u30c9\u30eb\u306e\u7372\u5f97\u53ef\u80fd\u6700\u5927\u5e02\u5834\u306e\u5185\u8a33\u3092\u898b\u308b\u3068\u3001\u5f7c\u3089\u306e\u91ce\u671b\u306e\u672c\u8cea\u304c\u898b\u3048\u3066\u304f\u308b\u306e\u3058\u3083\u3002<\/p>\n

\n
\n
AI\u30fb\u30b3\u30f3\u30d4\u30e5\u30fc\u30c6\u30a3\u30f3\u30b0<\/div>\n
\n
$26.5\u5146<\/div>\n<\/div>\n<\/div>\n
\n
Connectivity\uff08\u901a\u4fe1\uff09<\/div>\n
\n
$1.6\u5146<\/div>\n<\/div>\n<\/div>\n
\n
Space\uff08\u6253\u3061\u4e0a\u3052\u7b49\uff09<\/div>\n
\n
$3,700\u5104<\/div>\n<\/div>\n<\/div>\n<\/div>\n

\u5168\u4f53\u306e93%\u304cAI\u95a2\u9023\u5e02\u5834\u3058\u3083\u3002\u3064\u307e\u308aSpaceX\u304c\u300c\u5b87\u5b99\u4f01\u696d\u300d\u3068\u3057\u3066\u4e0a\u5834\u3059\u308b\u306e\u3067\u306f\u306a\u304f\u3001\u300c\u5730\u4e0a\u3068\u5b87\u5b99\u3092\u7e4b\u3050AI\u30a4\u30f3\u30d5\u30e9\u30d7\u30ed\u30d0\u30a4\u30c0\u30fc\u300d\u3068\u3057\u3066\u5e02\u5834\u306b\u6253\u3063\u3066\u51fa\u3066\u3044\u308b\u3068\u3044\u3046\u3053\u3068\u3058\u3083\u3002\u3082\u3057xAI\u4e8b\u696d\u304c\u306a\u3051\u308c\u3070\u58f2\u4e0a\u306f\u7d04155\u5104\u30c9\u30eb\u306b\u3068\u3069\u307e\u308a\u3001\u5408\u4f75\u524d\u306e1\u5146\u30c9\u30eb\u8a55\u4fa1\u3067\u3082\u58f2\u4e0a\u306e65\u500d\u3068\u3044\u3046\u30de\u30eb\u30c1\u30d7\u30eb\u306b\u306a\u3063\u3066\u3057\u307e\u3046\u2015\u2015AI\u3068\u3044\u3046\u8981\u7d20\u3092\u52a0\u7b97\u3057\u3066\u521d\u3081\u3066\u30012\u5146\u30c9\u30eb\u306b\u8feb\u308b\u8a55\u4fa1\u306e\u300c\u7269\u8a9e\u300d\u304c\u6210\u7acb\u3059\u308b\u306e\u3058\u3083\u3088\u3002<\/p>\n

\n
\ud83e\uddf8 \u30c6\u30c7\u30a3<\/div>\n
\u3058\u3083\u3042\u3001\u7d50\u5c40SPCX\u3063\u3066\u8cb7\u3044\u306a\u306e\uff1f\u8cb7\u308f\u306a\u3044\u65b9\u304c\u3044\u3044\u306e\uff1f<\/div>\n<\/div>\n
\n
\ud83d\udc3b\u200d\u2744\ufe0f \u3057\u308d\u304f\u307e\u3061\u3083\u3093<\/div>\n
\uff8c\uff6b\uff8c\uff6b\u3001\u305d\u308c\u304c\u6b63\u76f4\u306a\u554f\u3044\u3058\u3083\u306e\u3002\u308f\u3057\u306e\u6b63\u76f4\u306a\u7b54\u3048\u306f\u3053\u3046\u3058\u3083\u3002\u300c\u65e7\u6765\u306e\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\u6307\u6a19\u3067\u6e2c\u3063\u3066\u306f\u3044\u304b\u3093\u9298\u67c4\u3058\u3083\u300d\u3068\u3044\u3046\u3053\u3068\u3058\u3083\u3002Morningstar\u306e\u9069\u6b63\u8a55\u4fa17,800\u5104\u30c9\u30eb\u30681\u51468,000\u5104\u30c9\u30eb\u306e\u76ee\u6a19\u4fa1\u683c\u306e\u4e56\u96e2\u306f\u6df1\u523b\u306a\u306e\u3058\u3083\u304c\u3001\u540c\u6642\u306b\u30a4\u30f3\u30c7\u30c3\u30af\u30b9\u3078\u306e\u65e9\u671f\u7d44\u307f\u5165\u308c\u3068\u3044\u3046\u300c\u5f37\u5236\u8cb7\u3044\u300d\u306e\u4ed5\u7d44\u307f\u304c\u4e0a\u5834\u76f4\u5f8c\u306e\u682a\u4fa1\u3092\u529b\u5f37\u304f\u652f\u3048\u308b\u3058\u3083\u308d\u3046\u3002Starlink\u306e113\u51049,000\u4e07\u30c9\u30eb\u3068\u3044\u3046\u73fe\u5b9f\u306e\u53ce\u76ca\u57fa\u76e4\u304c\u3042\u308a\u3001\u9632\u885b\u5951\u7d04\u3068\u3044\u3046\u5f37\u529b\u306a\u4e0b\u5024\u652f\u6301\u7dda\u304c\u3042\u308b\u3002\u3053\u308c\u3092\u300cStarlink\u901a\u4fe1\u4e8b\u696d\uff0b\u5b87\u5b99\u30a4\u30f3\u30d5\u30e9\uff0bAI\uff0b\u56fd\u9632\u300d\u3068\u3044\u30464\u3064\u306e\u6b21\u4e16\u4ee3\u30e1\u30ac\u30c8\u30ec\u30f3\u30c9\u306b\u540c\u6642\u306b\u3001\u304b\u3064\u652f\u914d\u7684\u7acb\u5834\u3067\u6295\u8cc7\u3067\u304d\u308b\u552f\u4e00\u306e\u624b\u6bb5\u3068\u3057\u3066\u6349\u3048\u308b\u306a\u3089\u3001\u305d\u306e\u610f\u5473\u306f\u5927\u304d\u3044\u306e\u3058\u3083\u3002\u305f\u3060\u3057\u300196\u500d\u306ePSR\u300149\u5104\u30c9\u30eb\u306e\u7d14\u640d\u5931\u3001\u30de\u30b9\u30af\u6c0f\u306e\u30ac\u30d0\u30ca\u30f3\u30b9\u30ea\u30b9\u30af\u2015\u2015\u3053\u308c\u3089\u3092\u53d7\u3051\u5165\u308c\u308b\u899a\u609f\u304c\u5fc5\u8981\u3058\u3083\u305e\u3044\u3002<\/div>\n<\/div>\n
\n
\n

\ud83d\udcda \u7528\u8a9e\u89e3\u8aac\uff1a\u65e5\u672c\u8a9e\u3068\u82f1\u8a9e\u3067\u7406\u89e3\u3059\u308b\u91d1\u878d\u30fb\u5b87\u5b99\u7528\u8a9e<\/h2>\n
\n
IPO\uff08\u65b0\u898f\u682a\u5f0f\u516c\u958b\uff09<\/div>\n
Initial Public Offering<\/div>\n
\u672a\u516c\u958b\u4f01\u696d\u304c\u521d\u3081\u3066\u682a\u5f0f\u5e02\u5834\u306b\u4e0a\u5834\u3057\u3001\u5e83\u304f\u4e00\u822c\u6295\u8cc7\u5bb6\u5411\u3051\u306b\u682a\u5f0f\u3092\u8ca9\u58f2\u3059\u308b\u3053\u3068\u3002\u82f1\u8a9e\u3067\u306f “going public” \u3068\u3082\u8a00\u3046\u3002<\/div>\n<\/div>\n
\n
S-1\u767b\u9332\u5c4a\u51fa\u66f8<\/div>\n
S-1 Registration Statement<\/div>\n
\u7c73\u56fd\u3067IPO\u3092\u884c\u3046\u969b\u306bSEC\uff08\u8a3c\u5238\u53d6\u5f15\u59d4\u54e1\u4f1a\uff09\u306b\u63d0\u51fa\u3059\u308b\u6cd5\u5b9a\u66f8\u985e\u3002\u8ca1\u52d9\u72b6\u6cc1\u30fb\u30ea\u30b9\u30af\u30fb\u4e8b\u696d\u8a08\u753b\u306a\u3069\u3092\u8a73\u7d30\u306b\u958b\u793a\u3059\u308b\u5fc5\u8981\u304c\u3042\u308b\u305f\u3081\u3001\u6295\u8cc7\u5224\u65ad\u306e\u6700\u91cd\u8981\u8cc7\u6599\u3068\u306a\u308b\u3002<\/div>\n<\/div>\n
\n
\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\uff08\u4f01\u696d\u8a55\u4fa1\u984d\uff09<\/div>\n
Valuation<\/div>\n
\u4f01\u696d\u306e\u4fa1\u5024\u3092\u91d1\u984d\u3067\u8868\u3057\u305f\u3082\u306e\u3002\u682a\u5f0f\u306e\u7dcf\u6570\u00d7\u682a\u4fa1\u3067\u7b97\u51fa\u3055\u308c\u308b\u6642\u4fa1\u7dcf\u984d\uff08Market Capitalization\uff09\u304c\u4ee3\u8868\u7684\u306a\u6307\u6a19\u3002<\/div>\n<\/div>\n
\n
PSR\uff08\u682a\u4fa1\u58f2\u4e0a\u9ad8\u500d\u7387\uff09<\/div>\n
Price-to-Sales Ratio (P\/S Ratio)<\/div>\n
\u6642\u4fa1\u7dcf\u984d\u3092\u5e74\u9593\u58f2\u4e0a\u9ad8\u3067\u5272\u3063\u305f\u6307\u6a19\u3002SpaceX\u306f\u7d0496\u500d\u3068\u6975\u3081\u3066\u9ad8\u304f\u3001\u5e02\u5834\u304c\u5c06\u6765\u306e\u83ab\u5927\u306a\u6210\u9577\u3092\u5148\u53d6\u308a\u3057\u3066\u8a55\u4fa1\u3057\u3066\u3044\u308b\u3053\u3068\u3092\u793a\u3059\u3002<\/div>\n<\/div>\n
\n
TAM\uff08\u7372\u5f97\u53ef\u80fd\u6700\u5927\u5e02\u5834\u898f\u6a21\uff09<\/div>\n
Total Addressable Market<\/div>\n
\u3042\u308b\u4f01\u696d\u304c\u7406\u8ad6\u4e0a\u30a2\u30af\u30bb\u30b9\u3067\u304d\u308b\u5e02\u5834\u306e\u6700\u5927\u898f\u6a21\u3002SpaceX\u306f28\u51465,000\u5104\u30c9\u30eb\u3068\u8a66\u7b97\u3057\u3066\u304a\u308a\u3001\u3053\u308c\u304c\u9ad8\u3044\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\u306e\u6839\u62e0\u306e\u4e00\u3064\u3068\u306a\u3063\u3066\u3044\u308b\u3002<\/div>\n<\/div>\n
\n
ARPU\uff08\u30e6\u30fc\u30b6\u30fc\u3042\u305f\u308a\u5e73\u5747\u53ce\u76ca\uff09<\/div>\n
Average Revenue Per User<\/div>\n
1\u30e6\u30fc\u30b6\u30fc\u304c\u5e73\u5747\u3057\u3066\u6708\uff08\u307e\u305f\u306f\u5e74\uff09\u306b\u652f\u6255\u3046\u91d1\u984d\u3002Starlink\u306f\u52a0\u5165\u8005\u6025\u5897\u3068\u3068\u3082\u306bARPU\u304c\u4f4e\u4e0b\uff08\u6708\u984d81\u30c9\u30eb\uff09\u3057\u3066\u304a\u308a\u3001\u666e\u53ca\u3068\u53ce\u76ca\u306e\u30c8\u30ec\u30fc\u30c9\u30aa\u30d5\u304c\u8ab2\u984c\u3002<\/div>\n<\/div>\n
\n
GAAP\uff08\u7c73\u56fd\u4f1a\u8a08\u57fa\u6e96\uff09<\/div>\n
Generally Accepted Accounting Principles<\/div>\n
\u7c73\u56fd\u306b\u304a\u3051\u308b\u6a19\u6e96\u7684\u306a\u4f1a\u8a08\u30eb\u30fc\u30eb\u3002SpaceX\u306e\u300cGAAP\u7d14\u640d\u593149.4\u5104\u30c9\u30eb\u300d\u306f\u3053\u306e\u57fa\u6e96\u306b\u5247\u3063\u305f\u6b63\u5f0f\u306a\u8d64\u5b57\u984d\u3067\u3042\u308a\u3001\u8abf\u6574\u5f8cEBITDA\u3068\u306f\u7570\u306a\u308b\u3002<\/div>\n<\/div>\n
\n
\u8abf\u6574\u5f8cEBITDA<\/div>\n
Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization)<\/div>\n
\u5229\u606f\u30fb\u7a0e\u91d1\u30fb\u6e1b\u4fa1\u511f\u5374\u30fb\u511f\u5374\u8cbb\u3092\u5dee\u3057\u5f15\u304f\u524d\u306e\u5229\u76ca\u306b\u3001\u3055\u3089\u306b\u7279\u6b8a\u8981\u56e0\u3092\u9664\u3044\u305f\u7d4c\u55b6\u5b9f\u614b\u3092\u793a\u3059\u6307\u6a19\u3002SpaceX\u306f2025\u5e74\u306b65.8\u5104\u30c9\u30eb\u3068\u958b\u793a\u3057\u3066\u304a\u308a\u3001GAAP\u30d9\u30fc\u30b9\u3068\u306f\u5927\u304d\u304f\u7570\u306a\u308b\u3002<\/div>\n<\/div>\n
\n
\u30a8\u30b3\u30ce\u30df\u30c3\u30af\u30fb\u30e2\u30fc\u30c8\uff08\u7d4c\u6e08\u7684\u306a\u6fe0\uff09<\/div>\n
Economic Moat<\/div>\n
\u7af6\u5408\u4ed6\u793e\u304c\u5bb9\u6613\u306b\u53c2\u5165\u30fb\u6a21\u5023\u3067\u304d\u306a\u3044\u6301\u7d9a\u7684\u306a\u7af6\u4e89\u512a\u4f4d\u6027\u3092\u6307\u3059\u30a6\u30a9\u30fc\u30ec\u30f3\u30fb\u30d0\u30d5\u30a7\u30c3\u30c8\u7531\u6765\u306e\u6982\u5ff5\u3002SpaceX\u306e\u5834\u5408\u3001\u5727\u5012\u7684\u306a\u6253\u3061\u4e0a\u3052\u30b3\u30b9\u30c8\u306e\u5b89\u3055\u3068\u6253\u3061\u4e0a\u3052\u983b\u5ea6\u304c\u4e3b\u306a\u30e2\u30fc\u30c8\u3068\u3055\u308c\u308b\u3002<\/div>\n<\/div>\n
\n
\u30a4\u30f3\u30c7\u30c3\u30af\u30b9\u7d44\u307f\u5165\u308c\uff08\u30d5\u30a1\u30b9\u30c8\u30a8\u30f3\u30c8\u30ea\u30fc\uff09<\/div>\n
Index Inclusion \/ Fast-Entry Rule<\/div>\n
\u4e0a\u5834\u3057\u305f\u682a\u5f0f\u304c\u682a\u4fa1\u6307\u6570\uff08Nasdaq-100\u306a\u3069\uff09\u306e\u69cb\u6210\u9298\u67c4\u306b\u52a0\u3048\u3089\u308c\u308b\u3053\u3068\u3002\u8d85\u5927\u578bIPO\u306b\u9069\u7528\u3055\u308c\u308b\u300c\u30d5\u30a1\u30b9\u30c8\u30a8\u30f3\u30c8\u30ea\u30fc\u30fb\u30eb\u30fc\u30eb\u300d\u306b\u3088\u308a\u3001SPCX\u306fNasdaq-100\u306b\u4e0a\u5834\u5f8c\u308f\u305a\u304b15\u55b6\u696d\u65e5\u3067\u7d44\u307f\u5165\u308c\u3089\u308c\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b\u3002<\/div>\n<\/div>\n
\n
DCF\uff08\u5272\u5f15\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\uff09\u5206\u6790<\/div>\n
Discounted Cash Flow Analysis<\/div>\n
\u5c06\u6765\u5f97\u3089\u308c\u308b\u3068\u4e88\u60f3\u3055\u308c\u308b\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3092\u73fe\u5728\u4fa1\u5024\u306b\u5272\u308a\u5f15\u304f\u3053\u3068\u3067\u4f01\u696d\u306e\u672c\u6765\u306e\u4fa1\u5024\u3092\u7b97\u51fa\u3059\u308b\u624b\u6cd5\u3002Morningstar\u306fDCF\u3067SpaceX\u306e\u9069\u6b63\u8a55\u4fa1\u30927,800\u5104\u30c9\u30eb\u3068\u8a66\u7b97\u3057\u305f\u3002<\/div>\n<\/div>\n
\n
\u4e8c\u91cd\u682a\u5f0f\u69cb\u9020\uff08\u30c7\u30e5\u30a2\u30eb\u30af\u30e9\u30b9\uff09<\/div>\n
Dual-Class Share Structure<\/div>\n
\u8b70\u6c7a\u6a29\u306e\u7570\u306a\u308b2\u7a2e\u985e\u306e\u682a\u5f0f\u3092\u767a\u884c\u3059\u308b\u4ed5\u7d44\u307f\u3002SpaceX\u306e\u30af\u30e9\u30b9B\u306f1\u682a10\u8b70\u6c7a\u6a29\u3067\u3042\u308a\u3001\u30de\u30b9\u30af\u6c0f\u306f\u682a\u5f0f42%\u4fdd\u6709\u3067\u3082\u8b70\u6c7a\u6a2985%\u3092\u638c\u63e1\u3059\u308b\u3002Google\u3084Facebook\u306eIPO\u6642\u306b\u3082\u63a1\u7528\u3055\u308c\u305f\u624b\u6cd5\u3002<\/div>\n<\/div>\n
\n
LEO\uff08\u4f4e\u8ecc\u9053\uff09<\/div>\n
Low Earth Orbit<\/div>\n
\u5730\u8868\u304b\u3089\u7d04200\u301c2,000km\u306e\u9ad8\u5ea6\u306b\u4f4d\u7f6e\u3059\u308b\u8ecc\u9053\u5e2f\u3002Starlink\u306e\u885b\u661f\u7fa4\u306f\u3053\u306e\u8ecc\u9053\u306b\u5c55\u958b\u3055\u308c\u3066\u304a\u308a\u3001\u901a\u4fe1\u9045\u5ef6\u304c\u9759\u6b62\u8ecc\u9053\u885b\u661f\u3088\u308a\u5927\u5e45\u306b\u4f4e\u3044\u306e\u304c\u7279\u9577\u3002<\/div>\n<\/div>\n
\n
Starshield\uff08\u30b9\u30bf\u30fc\u30b7\u30fc\u30eb\u30c9\uff09<\/div>\n
Starshield<\/div>\n
SpaceX\u306e\u8ecd\u4e8b\u30fb\u653f\u5e9c\u6a5f\u95a2\u5411\u3051\u885b\u661f\u901a\u4fe1\u30fb\u76e3\u8996\u30a4\u30f3\u30d5\u30e9\u30d7\u30ed\u30b0\u30e9\u30e0\u3002\u6c11\u9593\u5411\u3051Starlink\u3068\u306f\u7570\u306a\u308a\u3001\u30bb\u30ad\u30e5\u30ea\u30c6\u30a3\u5f37\u5316\u30fb\u6697\u53f7\u5316\u30fb\u8ecd\u7528\u30bb\u30f3\u30b5\u30fc\u7d71\u5408\u3092\u7279\u5fb4\u3068\u3059\u308b\u3002<\/div>\n<\/div>\n
\n
\u30b3\u30f3\u30b0\u30ed\u30de\u30ea\u30c3\u30c8\uff08\u8907\u5408\u4f01\u696d\u4f53\uff09\u5272\u5f15<\/div>\n
Conglomerate Discount<\/div>\n
\u7570\u306a\u308b\u4e8b\u696d\u3092\u62b1\u3048\u308b\u5927\u4f01\u696d\u306f\u3001\u5404\u4e8b\u696d\u3092\u500b\u5225\u306b\u8a55\u4fa1\u3057\u305f\u7dcf\u548c\u3088\u308a\u3082\u4f4e\u3044\u8a55\u4fa1\u3092\u53d7\u3051\u3084\u3059\u3044\u3068\u3044\u3046\u5e02\u5834\u306e\u50be\u5411\u3002Tesla\u00d7SpaceX\u5408\u4f75\u30b7\u30ca\u30ea\u30aa\u306e\u6f5c\u5728\u7684\u30ea\u30b9\u30af\u3068\u3057\u3066\u6307\u6458\u3055\u308c\u308b\u3002<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

2026\u5e746\u670812\u65e5\u3001Nasdaq\u5e02\u5834\u306b\u300cSPCX\u300d\u3068\u3044\u3046\u30c6\u30a3\u30c3\u30ab\u30fc\u3067\u682a\u5f0f\u516c\u958b\uff08IPO\uff09\u304c\u4e88\u5b9a\u3055\u308c\u3066\u3044\u308bSpace Exploration Technologies Corp.\u2015\u2015\u3059\u306a\u308f\u3061SpaceX\u306f\u3001\u4e16\u754c\u306e\u8cc7\u672c\u5e02\u5834\u304c […]<\/p>\n","protected":false},"author":2,"featured_media":17814,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[25],"tags":[],"class_list":["post-18145","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-25"],"acf":[],"_links":{"self":[{"href":"https:\/\/jyakusyadansei.com\/index.php?rest_route=\/wp\/v2\/posts\/18145","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jyakusyadansei.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jyakusyadansei.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jyakusyadansei.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/jyakusyadansei.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18145"}],"version-history":[{"count":4,"href":"https:\/\/jyakusyadansei.com\/index.php?rest_route=\/wp\/v2\/posts\/18145\/revisions"}],"predecessor-version":[{"id":18149,"href":"https:\/\/jyakusyadansei.com\/index.php?rest_route=\/wp\/v2\/posts\/18145\/revisions\/18149"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/jyakusyadansei.com\/index.php?rest_route=\/wp\/v2\/media\/17814"}],"wp:attachment":[{"href":"https:\/\/jyakusyadansei.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18145"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jyakusyadansei.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18145"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jyakusyadansei.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18145"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}