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Manufacturing and exports have helped support China's economy, recording the world's biggest-ever trade surplus last year - the value of goods and services sold abroad compared to its imports - of $1.19tn (£890bn).
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The first: These are the ultimate in capital intensive enterprises. Musk announced SpaceX’s intention to build 10,000 fully reusable Starlink rockets, each over 400 feet tall. At a cost that Payload Research estimates at $35 million each, that’s $350 billion in cash for the like of krypton-gas burners, solar arrays, and stainless steel alloy. xAI is a major builder of high-cost data centers than run such products as its GROK chatbot. In 2025, it reportedly burned $8 billion in cash, primarily to fund such behemoths at $20 billion “MACROHARDRR” facility in Mississippi. The upshot: These aren’t low investment software plays that if successful, could easily post 35% net GAAP margins. In general, it’s extremely rare for “manufacturers,” whether it’s in aircraft or data-generators, to achieve such loft levels of profitability.
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