**SpaceX Goes Public, Stock Faces Volatility**
Space Exploration Technologies Corp (NASDAQ: SPCX) went public on June 12, 2023, reaching a high of $225 but has since declined 34%, closing at $147.95 on September 4, 2023. Founded by Elon Musk in 2002, SpaceX operates in three sectors: space transportation, satellite internet, and AI infrastructure, with expectations for significant revenue growth in the coming years.
In Q2 2023, SpaceX reported $7.8 billion in total revenue, up 92% from the previous year, with segments breaking down as follows: $0.962 billion from Space (29% growth), $4.291 billion from Connectivity (66%), and $2.561 billion from AI (247%). The company has a market capitalization of $2 trillion, leading to a high price-to-sales ratio of 86.9, compared to the Nasdaq-100’s 6.2. As part of its strategy, SpaceX aims for a potential market of $26.5 trillion in AI infrastructure, betting on its Starlink satellites to develop and power future technologies.
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