**Space Exploration Technologies (NASDAQ: SPCX)** executed a significant IPO on June 12, becoming one of the largest in history. Despite a recent stock decline, SpaceX’s valuation remains higher than **Tesla (NASDAQ: TSLA)**, which reported a profit of $3.8 billion last year compared to SpaceX’s loss of $4.9 billion in 2025.
Both companies hold high market valuations, with Tesla trading at over 370 times earnings, vastly exceeding the S&P 500’s 32 times. SpaceX claims a total addressable market of $2 trillion—including rockets and AI—while its core AI potential is projected to be worth $26.5 trillion. There is speculation about a potential merger between Tesla and SpaceX, with a 51% chance expected by March 2027, driven by their shared AI ambitions.
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