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| What are this week’s market risks or opportunities? |
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| $1.3B flowed into space-themed ETFs in May, with Rocket Lab the top holding across the sector's leading funds as the closest public proxy for SpaceX. But the ecosystem extends well beyond any single launch company. |
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| SpaceX's recent partnership with Anthropic (which has also filed for its own IPO) points to where the sector is heading next: space data centers and AI-driven analytics that connect the space economy with the intelligence layer being built on top of it. |
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| For context on the scale of this moment: SpaceX (SPCX) is targeting a $1.6 to $2 trillion valuation, which would make it the largest IPO in history. |
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| Which trades should I consider? |
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| WarrenAI's highest-conviction ratings are concentrated in names most investors are walking past on their way to the pure-plays. |
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| General Electric (GE) is the strongest clean play: Strong Buy, solid EBITDA, and no technical headwinds pulling against the fundamental case. |
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| RTX Corp (RTX) and Northrop Grumman (NOC) carry the same Strong Buy rating and recently won a joint DARPA contract for next-gen rocket motors. DARPA is the U.S. military's advanced research agency, the body that developed GPS, the internet, and stealth technology. |
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| The caveat: both are down sharply from March 2026 highs with momentum indicators flashing strong sell. Analysts are buying the multi-year thesis while the market sells the valuation. Worth watching before committing. |
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| Rocket Lab (RKLB) is the most direct pure-play entry into commercial launch, also rated Strong Buy, though negative EBITDA and active dilution make it a smaller position. |
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| The third layer is AI infrastructure. The semiconductor and networking companies powering space data centers, the same buildout that SpaceX's Anthropic partnership is accelerating, represent a distinct part of the thesis. One of those names is already up over 30% in the first days of June. |
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| Should I consider this trade? |
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| Marvell (MRVL) makes the networking chips and optical interconnects that high-speed satellite data and ground-to-space communications run on. |
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| As space data centers scale and the AI-space convergence accelerates, Marvell sits at the intersection of two of the market's biggest structural themes. |
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| Nvidia's CEO recently described it as a "potential trillion-dollar" company. Revenue is growing at 42%, with the optical segment projected to double within two years. |
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| The stock is up 40%+ in June alone. |
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| It's featured in June's Tech Titans strategy, which doubled the S&P 500 in May and has returned +240% since launching in November 2023. |
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| Data correct to 04.06.2026 |
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