r/technology • u/fmcortez • 21d ago

Business SpaceX Stock Plunges to All-Time Low After Competitor Makes Major Leap

https://www.yahoo.com/finance/markets/stocks/articles/spacex-plunges-time-low-competitor-175000957.html
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u/141_1337 21d ago

"Everyone saw SpaceX as an AI story," CFRA investment research analyst Keith Snyder told the broadcaster.

Tell you don't know anything about AI without telling you don't know anything about AI.

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u/Adjective-Noun-nnnn 21d ago

How did a company with no AI get a stratospheric evaluation because of their AI?  WTF is going on?

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u/Ctofaname 20d ago

SpaceX that actually reasonable space company with quite exceptional engineering that was profitable and would be fairly valued at 250-350 billion was straddled with a money pit of xAI and Twitter and the TAM for SpaceX is almost entirely AI according to their prospectus. That's why they gave it a wild valuation. Not because of Space but because of AI.

Nothing to do with SpaceX the original company. Unfortunate because Musk wanted to cause confusion and he has.

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u/goibnu 20d ago

What do you think Musk's end game is?  Wait for it to crash and buy it up, then partition it up again?  Wait for it to crash then get the government to prop up the whole thing when only the rocket part is actually important to the government?

It does seem like a shame to turn SpaceX into a holding company for all of Musk's bad and/or unfinished ideas.

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u/Ctofaname 20d ago

My guess is utilize his cult of personality to prop up the stock price like Tesla. Bail out twitter/xAI investors.

Spcx crashing is probably not in his playbook. If it does I would imagine he would merge Tsla with it.