SpaceX Valuation Is Cheap for Space Peers But Pricey as AI Stock

The jury is still out on whether SpaceX is primarily a rocket company, as its name suggests, or actually more of a telecom provider or artificial intelligence play. Its expected valuation doesn’t help resolve the confusion.

With the much-awaited market debut just a day away, traders are poring over the company’s financials to understand what kind of multiple to pay for the stock given its three, very different, business segments. When compared to other publicly traded space companies, the $135 IPO price appears relatively cheap. Yet when placed against other AI firms, it looks much more expensive.

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