It looks like the future of space communications could be quantum computing-based for SpaceX, with investment bank Morgan Stanley analyst Adam Jones teasing a potential future of quantum-based space comms.
The fresh perspective from Jones comes right on the heels of NASA researchers at the Jet Propulsion Laboratory (JPL) at the California Institute of Technology (Caltech) successfully teleported quantum information over 27 miles (44km). The test was important, as researchers successfully demonstrated that quantum technology worked with existing telecommunications systems.
Jones said: "From a SpaceX perspective, the commercial potential of quantum communications networks and its potential advantages of its rapidly deploying in-space comms architecture may provide significant optionality to the story and its valuation".
"While, to our knowledge, SpaceX has not commented in detail on the enabling technology (ie. particle entanglement generators, quantum repeaters, random number generators, advanced cryogenics, etc) or the economic potential of quantum communications, we believe the company's increasingly dominant position in space, satellite communications and DoD/government work makes this a natural extension of their capabilities".
"SpaceX continues to solidify its place as 'mission control' for the emerging space economy. Important milestones with Starlink, Starship and government contracts dovetail to support strong commercial momentum. We note that our recently revised EV valuation to over $100bn (bull case >$200bn) does not include any direct valuation attribution related to quantum communication networks, quantum based metrology or cryptography".
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