News & Updates
The latest news and updates from companies in the WLTH portfolio.
Are SpaceX Bulls Deluding Themselves? This Wall Street Analyst Might Convince You So
It's been over a month since the Space Exploration Technologies (NASDAQ: SPCX) IPO, and the shine may be starting to come off. SpaceX stock sank below its $135 IPO price for the first time on July 15, and today, it hit an all-time low, closing down 6.7% at $115.26 on a broader sell-off in the software sector. Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue " Wall Street, which lined up behind the stock to push the IPO in unprecedented fashion, has released a bullish set of price targets, following the end of the stock's quiet period. Of the 13 analysts covering the stock, the lowest price target belongs to Needham at $200, implying a roughly 70% gain in the stock over the next year. The average price target on the stock is $278, implying the stock will more than double over the next year, reaching a valuation of more than $3.5 trillion, and the Street-high target is Raymond James' $800, which would make SpaceX easily the most valuable company in the world at a valuation above $8 trillion. A dose of reality One analyst, who gave a buy recommendation on the stock, shared one comment that shows SpaceX investors will need an extraordinary amount of patience for the stock to pay off. Citing the company's funding risk, a Morgan Stanley analyst said, "We forecast no free cash flow-positive year before 2035 and average external capital needs of roughly $84 billion per year from 2027 to 2034. If debt markets cannot absorb this financing need, SpaceX may need to issue equity, reduce growth investment, or slow deployment." Assuming this is a base-case scenario, this analyst sees no positive cash flow from the company for nearly a decade. In itself, that's not entirely remarkable. Amazon founder Jeff Bezos ran that company with a famously long-term mentality, and didn't generate positive free cash flow until 2003. Bringing in more than $1 billion in free cash flow annually took the company until 2007. However, Amazon was a much different company from SpaceX shortly after its IPO. First, it went public less than three years after it was founded, while SpaceX waited 24 years. Amazon was also growing much faster at that stage, putting up triple-digit growth before the dot-com bust. SpaceX, on the other hand, reported just 15% revenue growth in its first quarter.
X Energy (XE) Joins Project Prometheus As Founding Partner In AI Nuclear Push
Find winning stocks in any market cycle. Join 7 million investors using Simply Wall St's investing ideas for FREE. * X-Energy (NasdaqGS:XE) has been named a founding member of Project Prometheus, a new AI-driven partnership focused on advanced nuclear deployment. * The company joins Tier 1 partners including Idaho National Laboratory, NVIDIA, and AWS in this government-backed initiative. * Project Prometheus is intended to apply AI tools across nuclear design, licensing, construction, and operations. X-Energy is known for its work on advanced nuclear technologies. Project Prometheus places the company alongside major technology and research partners. For investors tracking NasdaqGS:XE, this move links the company more closely with efforts to apply AI to nuclear development, an area that is gaining attention as countries look for low carbon power options. The Prometheus partnership may influence how X-Energy allocates resources across product development, digital tools, and collaboration with public sector partners. For readers following the stock, the project is likely to become a reference point when assessing the company's role in AI-enabled nuclear projects and how it positions itself in upcoming bids, partnerships, or pilot deployments. Stay updated on the most important news stories for X-Energy by adding it to your watchlist or portfolio. Alternatively, explore our Community to discover new perspectives on X-Energy. We've flagged 3 risks for X-Energy. See which could impact your investment. Quick Assessment * ✅ Price vs Analyst Target: X-Energy trades at US$16.45 versus an analyst target of US$37.86, which is around 56% below the consensus level. * ❌ Simply Wall St Valuation: Shares are flagged as trading about 33% above the platform's estimated fair value. * ❌ Recent Momentum: The stock is down 18.4% over the past 30 days. There's only one way to know the right time to buy, sell or hold X-Energy. Head to Simply Wall St's company report for the latest analysis of X-Energy's Fair Value. Key Considerations * 📊 Project Prometheus ties X-Energy directly to AI driven nuclear deployment work, and this may become a key part of how investors frame its long term story. * 📊 Watch how this partnership feeds into contract wins, funding announcements, and any updates to revenue forecasts or capital needs. * ⚠️ Current losses and less than one year of cash runway highlight financing risk if Prometheus related projects take time to translate into cash flows. Dig Deeper For the full picture including more risks and rewards, check out the complete X-Energy analysis. Alternatively, you can check out the community page for X-Energy to see how other investors believe this latest news will impact the company's narrative.
Musk keeps Tesla-SpaceX merger speculation alive, cites growing overlap
By Akash Sriram and Chris Kirkham July 22 (Reuters) - Tesla CEO Elon Musk on Wednesday left the door open to the EV maker merging with his other trillion-dollar-plus-valued firm SpaceX, declining to dismiss the possibility and citing growing overlap between the companies. "As you can tell from the many collaborations on so many fronts with SpaceX, there's more and more overlap," Musk said on Tesla's earnings call. "We can't talk about, you know, combining companies and that kind of thing on an earnings call," he added. "It's got to be done with the appropriate process." Investors and analysts have long speculated about the possibility of combining Musk's electric vehicle and space firms, with the discussion intensifying during SpaceX's record $75 billion initial public offering process. After Musk's comments, he called on Tesla General Counsel Brandon Ehrhart, who stuck to boilerplate language calling SpaceX a "great partner" that provides "numerous beneficial transactions." Gene Munster, managing partner at Tesla investor Deepwater Asset Management, said the call left him more convinced the companies were destined to be joined over the next few years. "I would put the odds that these two will combine at 90% today," he said in a video posted on social media. "If you were going to ask me yesterday I would have said it's 80%." Tesla already supplies batteries and manufacturing technologies for some SpaceX projects, while the companies are jointly developing Terafab, a semiconductor manufacturing facility designed to produce AI chips. Proponents argue that combining the companies could simplify Musk's corporate empire and create a more integrated company spanning artificial intelligence, robotics, manufacturing, energy and space infrastructure. JPMorgan analysts said this month that "operational integration between the two entities is already deep," citing shared engineering talent, AI infrastructure, Terafab and Musk's leadership as factors that "would facilitate an eventual combination." Stifel analysts struck an even more bullish note, writing that "many investors consider it inevitable that Musk will move to combine SpaceX with Tesla -- for them the question is not if but when." SpaceX President and Chief Operating Officer Gwynne Shotwell has also acknowledged potential benefits, telling CNBC in June that folding the companies together "might make Elon's life a little easier" by streamlining management across his businesses. Others, however, caution that any transaction could face formidable hurdles. In the same research note, JPMorgan pointed to the "practical bottleneck" of getting regulatory approvals for both companies, particularly in China, where national security concerns over SpaceX's U.S. government ties could pose problems.
Musk keeps Tesla-SpaceX merger speculation alive, cites growing overlap
By Akash Sriram and Chris Kirkham July 22 (Reuters) - Tesla CEO Elon Musk on Wednesday left the door open to the EV maker merging with his other trillion-dollar-plus-valued firm SpaceX, declining to dismiss the possibility and citing growing overlap between the companies. "As you can tell from the many collaborations on so many fronts with SpaceX, there's more and more overlap," Musk said on Tesla's earnings call. "We can't talk about, you know, combining companies and that kind of thing on an earnings call," he added. "It's got to be done with the appropriate process." Investors and analysts have long speculated about the possibility of combining Musk's electric vehicle and space firms, with the discussion intensifying during SpaceX's record $75 billion initial public offering process. After Musk's comments, he called on Tesla General Counsel Brandon Ehrhart, who stuck to boilerplate language calling SpaceX a "great partner" that provides "numerous beneficial transactions." Gene Munster, managing partner at Tesla investor Deepwater Asset Management, said the call left him more convinced the companies were destined to be joined over the next few years. "I would put the odds that these two will combine at 90% today," he said in a video posted on social media. "If you were going to ask me yesterday I would have said it's 80%." Tesla already supplies batteries and manufacturing technologies for some SpaceX projects, while the companies are jointly developing Terafab, a semiconductor manufacturing facility designed to produce AI chips. Proponents argue that combining the companies could simplify Musk's corporate empire and create a more integrated company spanning artificial intelligence, robotics, manufacturing, energy and space infrastructure. JPMorgan analysts said this month that "operational integration between the two entities is already deep," citing shared engineering talent, AI infrastructure, Terafab and Musk's leadership as factors that "would facilitate an eventual combination." Stifel analysts struck an even more bullish note, writing that "many investors consider it inevitable that Musk will move to combine SpaceX with Tesla -- for them the question is not if but when." SpaceX President and Chief Operating Officer Gwynne Shotwell has also acknowledged potential benefits, telling CNBC in June that folding the companies together "might make Elon's life a little easier" by streamlining management across his businesses. Others, however, caution that any transaction could face formidable hurdles. In the same research note, JPMorgan pointed to the "practical bottleneck" of getting regulatory approvals for both companies, particularly in China, where national security concerns over SpaceX's U.S. government ties could pose problems.
SpaceX Is Down 20%: Here's Why I'm Still Not Buying
Space Exploration Technologies (NASDAQ: SPCX) has drawn a great amount of excitement in recent times. The company, better known as SpaceX, completed the world's biggest initial public offering last month -- and saw its stock soar 27% in the first days of trading. In recent times, SpaceX stock has pulled back, even falling below its IPO price of $135. But even at this level, I think the stock is too expensive considering the risk involved -- that's why I'm still not buying. Let's check out the details. Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue " A smart mix of businesses It's true that SpaceX offers a smart mix of growth businesses -- rocket launches, connectivity, and artificial intelligence (AI) -- and these businesses can work together to deliver efficiency. For example, SpaceX can use its rockets to deliver materials to space for the satellite-based internet service and the AI business. This offers SpaceX great autonomy and keeps costs down. The company has also made progress on goals such as bringing down the costs of rocket launches, and last year it completed more orbital launches than any other player. The connectivity business has seen its subscribers quadruple over three years, and this growth is key since this unit drives revenue growth. All of that is positive, and SpaceX, at $119 at the July 20 market close, is considerably lower than it was a few weeks ago. But I'm still not buying because the stock is expensive given the amount of risk involved. Prior to the IPO, Morningstar said its fair value for SpaceX was $63, which seems reasonable; today, the SpaceX price remains far from that level. Upcoming earnings reports I also think that before diving in, it's important to take a look at an earnings report or two to monitor the company's spending trends and the level of revenue that's being generated. So far, we may look at the financial picture over the past three years, as provided in the prospectus. But since SpaceX's capital expenditures are increasing, I'd like to see fresh earnings data. This is particularly key for a company like SpaceX, which has many goals linked to technologies that are still in development. For example, as SpaceX increases capital spending, is its revenue climbing at a fast pace? Last year, capex of $20 billion exceeded revenue, which was $18 billion. I'd like to see revenue step ahead in the coming quarters.
Anthropic's landmark $1.5B copyright settlement is approved
Anthropic can finally start cutting checks to a group of authors and book publishers that sued the AI lab over copyright infringement. A federal judge gave final approval Monday of Anthropic's landmark $1.5 billion settlement of a class action copyright lawsuit, Reuters reported. Judge William Alsup of the U.S. District Court for the Northern District of California issued a preliminary approval of the settlement last year, after ruling that Anthropic had illegally downloaded and stored millions of copyrighted books. Alsup has since retired and Judge Araceli Martinez-Olguin signed off on the settlement on Monday. The payout will deliver $3,000 per work across an estimated 500,000 works, shared among the authors and publishers who hold rights to them. While the settlement is believed to be the largest in the history of U.S. copyright law, many authors and creators still don't view it as a win. That's because of how the legal question was resolved. Alsup sided with Anthropic on the core issue. He ruled that training an AI model on copyrighted text counts as fair use -- a decision widely seen as a turning point for the AI industry. But the ruling didn't excuse how Anthropic obtained the books in the first place. Anthropic had built its training library from two sources: books it purchased and scanned (fine), and books it downloaded from pirate sites like Library Genesis and Pirate Library Mirror. Alsup found the second method illegal on its own terms and said that piracy question could go to trial; Anthropic agreed to a settlement soon after to avoid a trial and whatever damages a jury might have awarded. While the final approval closes out this case, it doesn't settle the legal question industry-wide because Alsup's ruling was a single district court decision, and Anthropic's decision to settle means the case will never reach an appeals court to become binding precedent. Other judges are still free to reach their own conclusions on their own facts, which is exactly what's playing out elsewhere. There is still a string of copyright lawsuits against companies such as Google, Meta, Midjourney, and OpenAI over whether it's legal to train AI models on copyrighted works. Just last week, a group of publishers and authors, including Hachette, Cengage, Elsevier, author Scott Turow, and S.C.R.I.B.E. filed a class action lawsuit against Google over accusations that the company used their copyrighted works to train its AI platform, Gemini.
Meta Reportedly In Talks With Anthropic Over a $10 Billion AI Deal
Meta is reportedly in talks to lease computing power to Anthropic in a deal worth as much as $10 billion over two years, according to the New York Times. The arrangement would open a new business line for Meta while easing Anthropic's desperate hunt for compute. Inside the Reported Meta and Anthropic Compute Deal Computing power, or compute, refers to the data center capacity used to train and run artificial intelligence models. The Anthropic proposal, first announced in June, would let the startup rent Meta's excess infrastructure rather than build its own facilities. According to the NTY, Anthropic would pay Meta in monthly installments over the two-year period, with an early-exit clause available to either party. The scale still looks modest by industry standards. The proposal runs about a third of the deal Anthropic signed with Elon Musk's SpaceX in May. Follow us on X to get the latest news as it happens. Under that agreement, the AI firm pays roughly $1.25 billion monthly, or $45 billion over three years, for computing power. Similar early-exit provisions reportedly applied to that larger contract as well. The talks remain in early stages and may still collapse before closing. Both Anthropic and Meta declined to comment on the reported negotiations. The context explains the urgency. Leading AI companies are racing to secure compute, while Meta, Google, and Microsoft pour hundreds of billions into new data centers worldwide. That construction boom has unsettled Wall Street. Investors increasingly question whether such extraordinary levels of spending can ever be justified by real returns. "Anthropic needs a lot of compute, and Meta has a lot of compute. Anthropic has really good models. Meta, until very recently, didn't have very good models, and now they have, you know, I would say an A-minus to B-tier frontier model," MTS's Theo Jaffee said. Why Would Meta Rent Compute to a Direct Rival For Meta, a potential deal would carry unusual weight. It could create fresh revenue and ease pressure from shareholders skeptical of the company's aggressive infrastructure budget. Mark Zuckerberg has said Meta will spend as much as $145 billion this year, most of it on AI. That figure more than doubles the $72 billion spent the previous year. Subscribe to our YouTube channel to watch leaders and journalists provide expert insights. Doubts about Meta's own models add another layer. The company has admitted it might build more data centers than its AI products currently require. Selling that surplus offers an obvious fix. Zuckerberg hinted on a May investor call that outside firms regularly ask to buy compute at a premium.
Should You Buy $1,000 Worth of SpaceX Stock Before Its First Earnings Report?
One of the more recent arrivals to our stock market, Space Exploration Technologies (NASDAQ: SPCX), better known as SpaceX, has never published a quarterly earnings report as a publicly traded company. That's going to change soon. While the market doesn't yet have a firm date for when the figures for its second quarter ending June 30 might be released, it's reasonable to expect a report in early August. So there's time to consider if it's worth spending $1,000 on the company's stock. I wouldn't be willing, and here's why. Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue " Moving in the darkness One of the primary reasons is that SpaceX remains something of a mystery. Its name is somewhat misleading, since most of its operations aren't directly involved in space exploration. It has a thriving satellite business with Starlink, a high-capex artificial intelligence (AI) unit that builds data centers and manages the X (formerly Twitter) social media platform, as well as a space business. While the company intends for all these operations to complement each other, SpaceX is at present more of a jumble of activities that don't necessarily synthesize. That, plus the fact that the company's pre-IPO filings don't provide much detail about its finances, makes the second quarter hard to estimate. This is surely why analyst projections are all over the place. There are many pundits already tracking SpaceX stock; 25 of them are included in the data compiled by Yahoo! Finance, for example. But, unusually for analysts, their estimates don't sit within a relatively narrow range. Their figures for the quarter's revenue have a range of nearly $3 billion -- from $5.3 billion to $8.1 billion. Those prognosticators seem to agree that the historically loss-making SpaceX will also land in the red in the second quarter. The big question is by how much -- the current net loss estimates range from $0.12 to $0.42. Stuck on the launchpad Another element keeping me away from SpaceX is that it's still experiencing setbacks in its headline activity. Late Thursday afternoon, the company unexpectedly aborted the latest launch of its Starship rocket, after some of its engines apparently failed to start. Uncomfortably, this is the heavy rocket that's supposed to be the launch vehicle helping power the company to astronomical success and glory.
SpaceX (SPCX) Loses Its IPO Premium as a Bigger Supply Test Looms
With investors increasingly questioning whether massive AI and infrastructure spending will generate adequate returns, Space Exploration Technologies Corp (NASDAQ:SPCX) has become one of the stocks caught in the broader valuation reset. SPCX has dropped below its $135 IPO price after a sharp rally to all-time highs of $225.64. With the stock trading at about $123, it has shed about 45% in share price from its all-time high. It is also down by about 9% from its IPO price. Valuation Debate The significant share price pullback, as initial IPO enthusiasm cools, comes as investors increasingly assess whether the price was justified. SpaceX's valuation assumes flawless execution, which remains a big concern. The stock has traded at about 45x estimated 2026 sales, far above most large technology companies. Investors are therefore paying for many years of future growth rather than current earnings. Source: Pexels The IPO valuation implied expectations consistent with revenue approaching roughly $178 billion by 2035 and potentially exceeding $500 billion over the following decade. In 2025, the company's sales rose 33% to $18.67 billion, with Starlink accounting for about 60% of the total. SpaceX's premium valuation stems from the expectation that the company will not only dominate commercial launches and satellite internet but also become a major player in AI infrastructure and space. Much of the valuation also depends on Starship becoming fully reusable and the company achieving large Starlink expansion. Bigger Supply Test Even as investors continue to question Space Exploration Technologies Corp (NASDAQ:SPCX) valuation, lock-up expiration presents one of the biggest near-term risk. The company created an unusually small public float of about 5% of total shares. Because only about 5% of shares were initially available for trading, scarcity supported the post-IPO price. As hundreds of millions of additional shares become eligible for sale, that scarcity premium could diminish even if the company's fundamentals remain unchanged By December, up to 40% of outstanding shares could become eligible for trading. On the other hand, Elon Musk shares will remain locked until mid-next year, meaning the largest insider stake won't be the source of selling pressure in the near term. The lock-up expirations are a technical headwind. While it does not affect the company's fundamentals, it increases the supply of tradable shares, which can put downward pressure on the stock. This is especially the case if demand weakens and insiders sell aggressively.
SpaceX (SPCX) Loses Its IPO Premium as a Bigger Supply Test Looms
With investors increasingly questioning whether massive AI and infrastructure spending will generate adequate returns, Space Exploration Technologies Corp (NASDAQ:SPCX) has become one of the stocks caught in the broader valuation reset. SPCX has dropped below its $135 IPO price after a sharp rally to all-time highs of $225.64. With the stock trading at about $123, it has shed about 45% in share price from its all-time high. It is also down by about 9% from its IPO price. Valuation Debate The significant share price pullback, as initial IPO enthusiasm cools, comes as investors increasingly assess whether the price was justified. SpaceX's valuation assumes flawless execution, which remains a big concern. The stock has traded at about 45x estimated 2026 sales, far above most large technology companies. Investors are therefore paying for many years of future growth rather than current earnings. Source: Pexels The IPO valuation implied expectations consistent with revenue approaching roughly $178 billion by 2035 and potentially exceeding $500 billion over the following decade. In 2025, the company's sales rose 33% to $18.67 billion, with Starlink accounting for about 60% of the total. SpaceX's premium valuation stems from the expectation that the company will not only dominate commercial launches and satellite internet but also become a major player in AI infrastructure and space. Much of the valuation also depends on Starship becoming fully reusable and the company achieving large Starlink expansion. Bigger Supply Test Even as investors continue to question Space Exploration Technologies Corp (NASDAQ:SPCX) valuation, lock-up expiration presents one of the biggest near-term risk. The company created an unusually small public float of about 5% of total shares. Because only about 5% of shares were initially available for trading, scarcity supported the post-IPO price. As hundreds of millions of additional shares become eligible for sale, that scarcity premium could diminish even if the company's fundamentals remain unchanged By December, up to 40% of outstanding shares could become eligible for trading. On the other hand, Elon Musk shares will remain locked until mid-next year, meaning the largest insider stake won't be the source of selling pressure in the near term. The lock-up expirations are a technical headwind. While it does not affect the company's fundamentals, it increases the supply of tradable shares, which can put downward pressure on the stock. This is especially the case if demand weakens and insiders sell aggressively.
How Buying SpaceX Today Could More Than 10X Your Net Worth
Let's cut to the chase. An investment in Space Exploration Technologies (NASDAQ: SPCX) today could very well grow your net worth tenfold if -- stay with me -- annual revenue grows at an average rate of about 42% for the next 15 years, or 23% over the next 25 years. If either came true, annual revenue would reach about $3.6 trillion, which is strikingly close to Morgan Stanley's 2040 forecast of $3.4 trillion for SpaceX. Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue " With this in mind, let's take a closer look at my reasoning to see if this space stock is worth buying today. What would it take for SpaceX to grow tenfold? SpaceX came to the market in mid-June with a lofty valuation. After its debut, the stock followed a ballistic trajectory, launching vertically for a few days before tilting to an angle and dropping sharply. The stock trades at $125, more or less, roughly 44% below its all-time high. The company reported about $18.7 billion in 2025 revenue, which, broken out by business segment, was composed of $11.4 billion from connectivity, $4.1 billion from space, and $3.2 billion from artificial intelligence. With its $1.8 trillion market valuation, SpaceX trades at about 100 times sales, which means expectations are high, and revenue growth is already assumed. Analysts at both Goldman Sachs and Morgan Stanley predict that SpaceX's annual revenue will rise above $300 billion by 2030, which, yes, is only a few years from now. If these firms are even remotely correct, then SpaceX's annual revenue could grow at a staggering rate of about 77%. Morgan Stanley, as I mentioned above, goes even further: Analysts at the firm project annual revenue of $3.4 trillion in 2040, driven by astonishing growth in the business's AI segment. Here's where a tenfold gain in SpaceX could hypothetically come into play. If annual revenue were $3.6 trillion in 2040 -- slightly higher than Morgan Stanley's prediction -- then a price-to-sales ratio of 5 would put its market cap at about $18 trillion. That's about 10 times what it is today. That sounds incredible. Could SpaceX really be worth $18 trillion in 2040? If that sounds incredible, that's because it is. No company in the world is worth $18 trillion. Only one, Nvidia, has traded above a $5 trillion valuation, and only two, Amazon and Walmart, have trailing-12-month revenue topping $700 billion.
What Do SpaceX, AMD, and Palantir Have in Common?
Space Exploration Technologies (NASDAQ: SPCX), AMD (NASDAQ: AMD), and Palantir Technologies (NASDAQ: PLTR) may seem like an odd grouping of companies. But I have a good reason to consider them together: They're all incredibly overvalued. While that may sound like a shocking statement, after digging into each stock, that's the reality, and investors sitting on them may want to consider swapping them out of their portfolios for some more reasonably valued counterparts in their industries. Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue " So, just how pricey are they? Let's take a look. SpaceX Although SpaceX just went public a few weeks ago, I think it's one of the most overvalued stocks on the market. But that's only if you value the company based on what it has already done. The majority of SpaceX investors are buying into the stock because of what it could achieve under Elon Musk's leadership. That's a fair investment thesis, and it's what has allowed Tesla to remain one of the largest companies in the world despite its business struggles over the past few quarters. If that's your angle, I'm not going to argue, but it doesn't alter the fact that SpaceX's business as it stands now does not justify the company's valuation. SpaceX hasn't reported earnings results as a public company yet, so the only information investors have to go on is from its IPO presentation. According to that, in 2025, SpaceX generated $18.7 billion in revenue and reported negative net income. So if we value the company using 2025 sales, that would price SpaceX at 92 times sales. Even if SpaceX could snap its fingers and become instantly profitable with a 45% profit margin (its stated long-term goal), that would value the stock at 204 times earnings. That's an incredibly expensive stock, and with 2025 revenue growth coming in at only 33%, those numbers don't jibe. That's not to say SpaceX cannot overcome this with future growth, but even then, a lot of hoped-for growth is already priced into the stock, so I'm avoiding it. AMD AMD stock has risen by about 150% so far in 2026. While some of that gain was earned, the rest of it is a real head-scratcher. AMD is constantly compared to Nvidia, as these two compete against each other in many product lines, but the most important arena for both right now is the data center market. Nvidia's data center division is far larger and growing much faster than AMD's, which makes it odd that AMD is now valued at such a premium to Nvidia.
Elon Musk Isn't a Trillionaire Anymore, Says Forbes -- SpaceX Stock Dropped After Aborted Launch
The world's first trillionaire is back to slumming it among the billionaires, according to a report by Forbes. That's right. Elon Musk saw his net worth drop back to a mere twelve digits after the SpaceX stock price took a tumble after the latest failed Starship launch attempt, reported Forbes' Ty Roush on Friday. Musk became the world's first trillionaire last month after SpaceX went public in the largest initial public offering in history. He holds 4.8 billion shares of SpaceX, plus another 350 million stock options, and about 700 million shares of Tesla. The SpaceX IPO price was $135 and the stock saw a spike in the days that followed but has since been on a downward trend. On Monday, Forbes reported that SpaceX shares had declined 3.8% to just under $140 by the afternoon and Tesla shares saw a similar 3% drop. Friday, SpaceX was down to $124 at the end of the day and at the end of "a five-day losing streak for the stock," wrote Roush. These stock price hits dragged Musk's net worth down billions of dollars, Roush reported. Forbes calculates Musk's peak net worth as $1.45 trillion on June 16, when SpaceX shares hit the stock's all-time high. Since then, the former DOGE chief has lost nearly $700 billion and is now worth $792.8 billion. That's enough to buy nearly eight million of the "Cyberbeast" model of the 2026 Tesla Cybertruck. (7,773,692 Cybertrucks to be precise, with a base model price of $101,985). Musk posted about the "automatic launch abort" for the latest Starship attempt on Thursday evening, posting on the X platform he owns that it was caused when "[s]ome of the engines didn't start." He added that another attempt would be made "hopefully in a few days," and that the "most probable launch timing is early next week." Musk may no longer be a trillionaire, but Forbes still ranks him as the richest person in the world, more than doubling his nearest competitors, Google co-founders Larry Page and Sergey Brin, worth $282 billion and $260.1 billion respectively. The post Elon Musk Isn't a Trillionaire Anymore, Says Forbes -- SpaceX Stock Dropped After Aborted Launch first appeared on Mediaite.
Elon Musk's SpaceX Won't Turn Profitable Until 2027, Analyst Says: 'Still Not Sure What People See...'
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. The Future Fund LLC's Gary Black renewed his skepticism toward Space Exploration Technologies Corp. early Wednesday after the stock's recent pullback and said the company's valuation and upcoming share unlocks leave little room for upside. Black Says Valuation Still Doesn't Add Up "It's already a megacap ($1.8T market cap) so upside is limited," Black said in a post on X, adding that SpaceX is not expected to turn profitable until 2027 despite trading at about 47 times projected 2026 enterprise value-to-revenue and 110 times value-to-EBITDA. Black shared a Bloomberg News report that said SpaceX shares had fallen to within $1 of their $135 IPO price after giving up roughly one-third of their post-listing gains. SpaceX is expected to unlock about 20% of its eligible pre-IPO shares after second-quarter earnings next month, with roughly 44% becoming eligible for sale by early September. Black said the staggered releases would increase the tradable float by about 900%, adding that "valuation has to matter at some point." After reaching a record high of $225.64 on June 16, the company's stock has now retreated roughly 40%. Still not sure what people see in $SPCX as an investment. It's already a megacap ($1.8T market cap) so upside is limited. It won't generate profits until 2027. It trades at 2026 EV/Rev of 47x ( $TSLA 14x), and 2026 EV/EBITDA of 110x ( $TSLA 97x). I get the TAM story once other... pic.twitter.com/QQO8bn0vVh -- Gary Black (@garyblack00) July 15, 2026 Veteran market strategist George Noble, a former Peter Lynch protégé, said the lockup schedule, and not the company's valuation, is the biggest near-term risk for the stock. Trending: Avoid the #1 Investing Mistake: How Your 'Safe' Holdings Could Be Costing You Big Time Chamath Makes the Bull Case Speaking on CNBC, venture capitalist Chamath Palihapitiya called SpaceX "an incredible company," having backed the business since its early years and continuing to believe in Elon Musk's long-term vision. "I think it's an incredible company," says @chamath of $SPCX. "I really believe in Elon." https://t.co/LiK7oIIGYr pic.twitter.com/1BcXDhSyNu -- Squawk Box (@SquawkCNBC) July 14, 2026 Palihapitiya said investors may be underestimating the strategic benefits of potentially combining SpaceX and Tesla Inc under a single capital structure, as he believes a unified balance sheet could make it easier to fund Musk's broader portfolio of businesses.
DocuSign (DOCU) Brings Contract Automation to Perplexity's AI Platform for Legal Teams
DocuSign, Inc. (NASDAQ:DOCU) is one of the best low priced technology stocks to invest in. On June 24, DocuSign, Inc. (NASDAQ:DOCU) announced that its Intelligent Agreement Management platform is now available inside Perplexity Computer and the newly launched Computer for Counsel. The integration allows legal teams to automate contract work using AI. DocuSign said the integration runs on its Model Context Protocol server. The server is merely a connector that lets Perplexity securely tap into DocuSign's agreement data. This way, legal teams only need to describe what they need in plain language and have Docusign carry out the contract task from start to finish. The goal, according to Docusign, is to cut down on manual contract work. The specific tasks on target are drafting, reviewing, negotiating, and tracking agreements. Some of the use cases the company highlighted include reviewing vendor contracts against a company's playbook, negotiating sales contract renewals, and managing HR onboarding paperwork. The integration allows all these to happen without legal staff needing to jump between separate systems, the company stated. DocuSign explained that the feature is built into Computer for Counsel, which is a version of Perplexity's AI agent tailored specifically for in-house legal departments. Nathan Barksdale, General Counsel at Perplexity, said connecting Docusign to Computer allows legal teams to automate agreement workflows end-to-end. This integration, said Barksdale, reinforces the pitch that legal departments can now manage contracts without losing control of their underlying data. DocuSign, Inc. (NASDAQ:DOCU) is a software company. It provides electronic signature and intelligent agreement management solutions in the United States and internationally, including e-signature capabilities for sending and signing agreements across devices, Contract Lifecycle Management that automates workflows across the agreement process, and Document Generation for streamlining custom agreement creation. While we acknowledge the potential of DOCU as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. Disclosure: None. Follow Insider Monkey on Google News.
SpaceX's Magic Number Is $135. Here's How to Profit Now as SPCX Stock Breaks Below It.
For SpaceX (SPCX), which came public in a storm of enthusiasm just five weeks ago, the $135 mark means everything. With the stock dripping below that mark this week, America's heroic IPO is falling like a rocket returning to earth. More News from Barchart The initial public offering market was supposed to find its ultimate savior in SpaecX. When Elon Musk aggressively tore up the traditional Wall Street playbook and fixed the company's landmark IPO price at exactly $135 per share, it was designed to be a historic victory lap. Raising a record-shattering $75 billion at an astronomical $1.75 trillion valuation, the offering was pitched to investors of all types as an elite, dual-threat bet on satellite dominance and space-based AI infrastructure. I cannot ever recall an IPO that had social media ads promoting it before an official filing. Now, just weeks into public trading, that $135 price tag is looking less like a launchpad and more like a psychological ceiling. After staging a brief initial pop and peaking at $225 shortly after its debut, the stock has relentlessly drifted right back down, closing Wednesday a clean $90 under that all-time high. The problem with $135 isn't a failure of rocket telemetry or a slowdown in Starlink subscriptions. The problem is the staggering valuation multiple built into that specific dollar figure. At $135 a share, SpaceX trades at a whopping 94x times its trailing price-revenue ratio. To be clear, this is a late-cycle tech tape, where corporate spending shifts are suddenly inducing massive air pockets -- as we just witnessed firsthand with International Business Machine's (IBM) historic collapse -- Wall Street portfolio managers are showing more signs daily that they're too shy to hold assets priced for perfection. The appetite for risk is shrinking. Furthermore, because early index inclusion rules forced automated Nasdaq index funds to programmatically buy billions of dollars of the float right after the debut, that initial demand is completely exhausted. This decline in SPCX stock is despite that artificial temporary demand. With no new passive buying waves on the horizon, and lockup periods ending later this summer, $135 has become a big time challenge for SPCX bulls. If the stock breaks cleanly below this original IPO floor, it could prompt an avalanche of retail stop-loss liquidations.
Cathie Wood Buys the Dip in Beaten-Down SpaceX Stock. Analysts See 86% Upside Ahead
SpaceX (SPCX) has quickly gone from Wall Street's hottest IPO to one of its biggest debates. After soaring more than 67% above its $135 IPO price shortly after listing in June, the stock has pulled back sharply and recently slipped below that offering price for the first time. There, Cathie Wood saw an opportunity and rushed in to buy the dip. ARK Invest founder bought another $16.7 million worth of SPCX shares as the stock traded below its IPO price, adding to more than $50 million of purchases earlier this month. More News from Barchart Cathie Wood Buys the SpaceX Dip ARK Invest, led by the famously bullish tech investor, purchased approximately $16.6 million to $16.7 million worth of SPCX stock on Wednesday, July 15. Four ARK funds participated in the purchase, including the flagship ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Space & Defense Innovation ETF (ARKX), buying about 123,000 shares total. The purchase made SpaceX the sixth-largest holding in ARKK. It wasn't an isolated move. Wood has been aggressively accumulating SpaceX shares throughout July. The week ending July 10 alone saw ARK Invest purchase roughly $52.1 million worth of SPCX. On July 13, the firm added another $21.3 million. By July 15, total weekly purchases had surpassed $36 million across multiple funds. It is pretty clear from these massive transactions that Wood has been an aggressive buyer of SpaceX. Why SPCX Stock Has Fallen Below Its IPO Price SPCX stock is down roughly 44% below its post-IPO peak and beneath its IPO price right now. Several factors have weighed on the shares. Investors have become increasingly concerned about the company's aggressive AI spending following its acquisition of xAI, while expectations for continued heavy capital expenditures have pressured sentiment. The market is also looking ahead to an August lockup expiration that could release roughly 20% of outstanding shares for trading, creating potential selling pressure. Despite the recent weakness, Cathie Wood has continued buying throughout the decline rather than trimming her position. Even after the recent selloff, SpaceX remains one of the market's most expensive large-cap growth stocks.
SPCX Stock Keeps Falling: Gary Black Says SpaceX Still Looks Ridiculously Overvalued -- 'Don't Say I Didn't Warn You'
* Gary Black adds that investors ignored clear warning signs despite extensive scrutiny of SpaceX's business plans and financials. * He claims the IPO was structured to create a supply-demand imbalance that inflated SpaceX's market value and benefited bankers. * Black questions Wall Street's bullish stance, noting that only Morningstar has a 'sell' rating on the stock despite its steep decline. Future Fund Managing Director Gary Black weighed in on SpaceX's recent decline after shares of the newly public company cooled off in a big way from their post-IPO highs. SpaceX stock (SPCX) ended Friday's session 5.43% down at $123.60. This was about 9% below its $135 initial public offering (IPO) price and down around 45% from its all-time intraday high of $225.64. See what 10M+ investors are talking about. Get the Stocktwits Daily Rip for what retail is watching right now, free to your inbox Gary Black On SpaceX's Post-IPO Drop In a post on X, Future Fund Managing Director Gary Black said, "Don't say I didn't warn you," stating that SPCX stock's decline validated his long-standing concerns over its valuation and IPO structure. He added that the stock still trades at "FY'2026 EV/Revs of 45x." Black invoked legendary investor Peter Lynch's long-held skepticism toward IPOs, saying Lynch believed IPO stood for "it's probably overpriced." He stated that SpaceX's "totally unproven plans to build data centres in space" were thoroughly examined before the listing, while its prospectus outlined what he described as a "ridiculous total addressable market" of $28.5 trillion. Black also noted that the company's losses "were disclosed and discussed," adding that there "may not have been an IPO in world history as closely scrutinised as this one." According to Black, investors who still chose to buy despite the risks "deserved what they got." Gary Black Criticizes IPO Structure And Wall Street Support Black said that the decline cannot be viewed in isolation because it "ignores the cynical way" SpaceX, its investment bankers, and advisers structured the IPO "to engineer short-term gain" and create "a $US500 billion fee pool." Black said the $85 billion IPO -- "3x the size of the next largest IPO in history" -- created a "highly imbalanced supply/demand situation," with a free float of less than $100 billion supporting more than $2 trillion in paper market value. Despite the stock's decline, he maintained that SpaceX "still looks ridiculously overvalued at 45x 2026 EV/Revs," while noting that most Wall Street analysts covering the stock have 'Buy' ratings and "only one -- Morningstar... has a sell rating." Black ended his post, saying, "That says it all."
AI Is Becoming a Commodity, and That's a Problem for OpenAI and Anthropic
A handful of remarkable things that recently happened in the world of artificial intelligence all point in one direction: AI is becoming a widely available commodity. First, the price of AI good enough to accomplish most everyday tasks has dropped precipitously. This is due to lightweight models that run in the cloud and on our devices, including new ones from Google, Apple and Chinese AI companies. Most Read from The Wall Street Journal Second, Meta Platforms showed the world it could potentially compete with the two leading AI labs, OpenAI and Anthropic, on their own turf, delivering high-performing models for the lucrative coding market. And third, the current computing-power bottleneck appears set to ease as more data centers come online, and engineers figure out how to deliver AI more efficiently. For some applications, the supply of tokens -- the basic unit of AI use -- is catching up with demand. These developments are great for the world. OpenAI Chief Executive Sam Altman hailed intelligence "too cheap to meter" as a goal just a year ago. And rather than taking all the jobs, AI might actually boost productivity of many workers and potentially reduce digital friction in our modern lives. But is this good news for OpenAI and Anthropic? Poised for IPOs, both depend on maintaining a competitive edge over incumbent tech companies for future profitability. If AI models turn out to be a general-purpose technology like the automobile or electricity, what can they uniquely offer? Competition and price wars As of March, global consumer market share of OpenAI's ChatGPT, measured by unique users across mobile and web, fell below 50%, according to the market-intelligence firm Sensor Tower. That's mostly due to competition from Google Gemini and Anthropic's Claude. As for enterprise customers, Chinese AI models can now match the leading U.S. models by some measures, at far lower cost. On the OpenRouter leaderboard, which tracks business consumption of AI tokens on its platform, the top five models are all Chinese, and approximately 45% of all tracked tokens now flow through Chinese models. Thinking Machines Lab, led by Mira Murati, former OpenAI chief technology officer, just released a free-to-use open-weights model it says will balance power and running cost. Translation: Who needs an AI Ferrari to get to work when the AI Honda Civic is right there?
SpaceX (SPCX) Faces A New Risk After Iran Named Starlink A Military Target
Never miss an important update on your stock portfolio and cut through the noise. Over 7 million investors trust Simply Wall St to stay informed where it matters for FREE. * Iran has declared Space Exploration Technologies' Starlink infrastructure and its Middle East ground station as military targets. * This move introduces defense-contractor-level risk to SpaceX, extending beyond its traditional commercial space and connectivity profile. * The designation raises questions about insurance coverage, security requirements, and operational continuity for Starlink assets in the region. Space Exploration Technologies, traded as NasdaqGS:SPCX, now sits at the center of a new geopolitical flashpoint that goes beyond launch cadence or satellite deployment metrics. With the stock at $131.11 and shares down 13.8% over the past week and 35.0% over the past month, investors are already contending with sharp short term volatility. The recent returns may prompt readers to reassess how exposure to SPCX fits alongside more traditional aerospace, defense, and communications holdings. This development effectively shifts part of SpaceX's profile toward the type of risk typically associated with critical defense infrastructure. Readers may want to think about whether to classify SPCX closer to a pure commercial growth story or as a hybrid exposure that carries geopolitical and security sensitivities. Future analysis will likely focus less on launch headlines alone and more on how this new risk category filters into insurance costs, capital allocation, and long term resilience of the business model. Stay updated on the most important news stories for Space Exploration Technologies by adding it to your watchlist or portfolio. Alternatively, explore our Community to discover new perspectives on Space Exploration Technologies. Is Space Exploration Technologies's balance sheet strong enough for future acquisitions? Dive into our detailed financial health analysis. Quick Assessment * ✅ Price vs Analyst Target: At US$131.11 versus an average analyst target of US$240.29, Space Exploration Technologies trades about 45% below consensus. * ❌ Recent Momentum: The stock has fallen 35.0% over the past 30 days, suggesting sentiment has turned sharply cautious. There's only one way to know the right time to buy, sell or hold Space Exploration Technologies. Head to Simply Wall St's company report for the latest analysis of Space Exploration Technologies's Fair Value.