SpaceX IPO Valuation Sparks Debate: Lower than Space Industry Norm but Higher than AI and Cloud Computing Companies

SpaceX is set to go public on June 11, with a marked valuation gap versus its peers in the space and AI sectors. While SpaceX looks undervalued relative to other space industry players, its valuation comes in higher when compared to AI and cloud computing companies. At a projected valuation of nearly $1.75 trillion, SpaceX’s price-to-sales ratio is roughly 52 times—far above the average for large tech firms, but below some of its space sector counterparts. Valuation approaches vary drastically across SpaceX’s Starlink, core space operations, and AI units, and investors remain divided over how to categorize the firm for valuation purposes: as an infrastructure company, a telecom operator, or an AI-driven technology business.