#1 Way to Profit from SpaceX IPO?

In the next two months, the largest IPO in human history will happen on Wall Street. SpaceX. $1.75 trillion valuation. $75 billion raise. Maybe more. ¹

The question is… “What is the #1 trade before the IPO?”

We’ve discovered one little-known trade, and it will be revealed right in this article.

Here's the story that almost nobody is talking about.

In February 2026, SpaceX quietly merged with xAI. The deal valued the combined company at around $1.25 trillion. ² It also turned SpaceX into something it had never been before.

An AI company.

So the SpaceX IPO isn't really just about rockets and Starlink anymore. It's about Musk's compute empire. It's about the supercomputers in Memphis. It's about the gigawatts of power that have to be lit up to train Grok.

Now, here’s what's happening on the ground.

xAI is building Colossus 2 in the Memphis area. A gigawatt-scale AI training cluster. Roughly 110,000 of Nvidia's most advanced GPUs at full scale. ⁴

The original Colossus 1 was already the largest single-coherent AI training cluster on Earth. ⁵ Colossus 2 will be three to five times bigger.

The problem? Memphis doesn't have the power.

When xAI started building Colossus 1, the local utility could only provide 8 megawatts. ⁶ xAI needed hundreds. The Tennessee Valley Authority couldn't move fast enough. The grid wasn't built for this.

So Musk did what Musk does. He went off-grid.

He found a Houston company that builds portable, behind-the-meter natural gas turbines. He started leasing them by the megawatt. Then he formed a joint venture with that company. Then he started buying their power generation directly.

That company is Solaris Energy Infrastructure. The ticker is SEI on the NYSE.

This is where it gets interesting.

Solaris and xAI formed a 50/50 joint venture called Stateline Power. xAI owns 49.9% of it. ⁷ The JV had already deployed over $112 million in capital expenditures in Q2 2025 alone, with hundreds of millions more committed. ⁸ Stonebriar Commercial Finance loaned the JV up to $550 million to buy more equipment. ⁷

According to SemiAnalysis — one of the most respected data center research firms in the industry — xAI now represents roughly 67% of Solaris's 1,700 megawatt orderbook. ⁸ That's about 1,140 megawatts of contracted power. There's another 425 megawatts of open capacity that xAI is expected to grab as Colossus 2 scales toward 1.5 gigawatts. ⁸

Read that again.

Elon Musk's AI company is, by far, the largest customer this Houston power company has ever had. And the largest contract Solaris owns is half-owned by Musk himself.

Most retail investors have never heard of Solaris. The dots have not been connected.

Now the financials.

Solaris reported Q4 2025 adjusted EBITDA of $69 million. Adjusted pro forma EPS of $0.35. Trailing twelve-month revenue of $622 million. ⁹ The company recently closed transactions to add about 900 megawatts of new natural gas turbine capacity, with deliveries running through the back half of 2026. ⁹

The market cap is about $5.23 billion. ¹⁰ Forward P/E is roughly 38x — not cheap, but reasonable for a company growing this fast in a power-constrained market. ¹¹

Then there's the short interest.

About 20% of the float is sold short. ¹¹

That's an enormous setup heading into the SpaceX IPO. If the S-1 reveals the true scale of xAI's compute spend — and analysts start doing the math on which public company supplies the power — those shorts will be running for the exits.

Every memorable trade in the AI cycle so far has come from following the bottleneck.

Two years ago, the bottleneck was chips. Nvidia was the trade.

Last year, the bottleneck was data center electrical equipment. Vertiv, Powell Industries, GE Vernova — all tripled or more.

This year, the bottleneck is power generation itself.

Solaris sits exactly on that bottleneck, with Musk's biggest AI project as its biggest customer and with his largest IPO in history just weeks away.

Sources