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CNBC’s Jim Cramer<\/a> said Wednesday investors looking at Elon Musk’s<\/a> SpaceX<\/a> should stop thinking in quarters and start thinking in decades<\/a>.<\/p>\n “SpaceX could be a 100-year piece of paper,” the “Mad Money<\/a>” host said, arguing that SpaceX should be viewed much like the century-long railroad bonds that ultimately rewarded patient investors. “Maybe you put some away for the next generation or even the one after that.”<\/p>\n Shares of SpaceX fell 13.6% on Wednesday as Wall Street digested the rocket-and-AI company’s first earnings report<\/a> since its historic June IPO. While revenue in the quarter topped expectations, the company disclosed sharply higher capital expenditures. <\/p>\n Cramer acknowledged the stock could face additional near-term pressure with roughly 911 million previously locked-up shares becoming eligible for trading Thursday.<\/p>\n Still, he argued investors focused on the next few quarters are missing the bigger picture. Instead, he thinks SpaceX’s long-term value<\/a> rests on Musk’s ability to repeatedly build transformative businesses.<\/p>\n While SpaceX’s ambitions will require enormous amounts of capital, Cramer said Musk has consistently proven he can raise money for projects many initially dismissed as unrealistic.<\/p>\n “I would never recommend SpaceX if Musk weren’t involved,” he said. “I’m confident that Musk can raise all of the money he needs.”<\/p>\n Cramer also pointed to several long-term growth opportunities across the company, including Starship, Musk’s fully reusable rocket program; Starlink’s expanding satellite internet business; and SpaceX’s growing compute footprint, which could eventually be used internally or rented to more outside customers. Currently, SpaceX has compute-rental agreements with Claude creator Anthropic and Alphabet’s<\/a> Google. <\/p>\n While Cramer acknowledged those businesses may take years \u2014 or even decades \u2014 to reach their full potential, he said that’s precisely why investors should evaluate SpaceX differently from a typical stock.<\/p>\n “One day this stock could be a huge winner,” he said. “I just don’t know when that day will come.”<\/p>\n