A $28.5 Trillion New Frontier?
Space is becoming one of the defining markets of the century, and SpaceX sits at the centre of it all, building the rockets, the networks and, increasingly, the AI behind it
Bull Case
The World's Most Dominant Rocket Launch Business
Reusable rockets slashed the costs of reaching orbit and the new Starship vehicle could do so once more
Starlink: A Fast-Growing, Cash-Generative Broadband Giant
Profitable, fast-growing satellite broadband throwing off recurring, global, subscription-style cash
SpaceX Owns Everything It Needs
Owning launch, satellites and connectivity makes every part cheaper than rivals can manage
Bear Case
The xAI Gamble
AI has become a key part of the SpaceX vision, but the business behind it is still unproven
Lofty IPO Valuation
An IPO price for future growth, not current performance
One Person Holds the Wheel
Elon retains control meaning his focus, judgment and reputation could have a meaningful impact on the share price
CurationAI can make mistakes, this is not investment advice. Got feedback?