SpaceX Valuation Reaches $1.43 Trillion Amid Analyst Skepticism

The equity valuation of Space Exploration Technologies Corp. has reached $1.43 trillion, a figure that market analysts argue incorporates overly optimistic expectations for its AI, Space, and Connectivity segments. While the Starlink service contributes to the company's overall profitability, its current scale and a decline in average revenue per user prevent the connectivity business from justifying the total valuation alone.

The AI and Space divisions remain capital-intensive and deeply unprofitable. Analysts specifically highlight risks within the AI sector, noting that short-duration contracts contrast poorly with the long-term infrastructure commitments required for the business to scale.

Estimates suggest that the intrinsic value of the company is approximately 33% lower than its current market valuation. According to these findings, the $1.43 trillion figure would only be justified by a substantial increase in free cash flow or a corresponding reduction in the stock price.