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* American stock indices advance; the Dow Jones records the biggest increase
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GROK’S SPACEX CALCULATIONS: ADD ROCKETS, MULTIPLY BY OPTIMISM, AND YOU GET A TRILLION
How much is SpaceX worth? Ask different AI agents or large language models (LLMs) and you’ll get different answers, especially from Elon Musk’s AI Grok.
SpaceX unveiled its IPO filing Wednesday, revealing to investors how Musk is losing money on AI while staking the company’s future on transforming the rocket maker into an AI powerhouse. SpaceX is aiming for a target valuation of $1.75 trillion that would eclipse Saudi Aramco’s 2019 IPO, which set a record for the world’s largest IPO when it debuted on the Riyadh Stock Exchange with a valuation of $1.7 trillion.
Although Starlink generated an operating profit of $1.19 billion in the first quarter, it was not enough to prevent the company from posting a total operating loss of $1.94 billion on revenue of $4.69 billion. Starlink accounts for the majority of SpaceX’s revenue, but its average revenue per user is declining.
We submitted SpaceX’s Form S-1 to three LLMs and asked each to estimate the value of SpaceX. Here are the results:
Grok de SpaceX: 1.400 Ã 1.800 milliards de dollars
“SpaceX’s $1.4 trillion to $1.8 trillion IPO valuation is based on a multiple of 75 to 95 times its projected 2025 revenue of $18.7 billion, driven by the growth of Starlink, its dominant position in rockets and the potential of AI and technology. space.â€
Alphabet’s Gemini: $530 billion to $695 billion
“The estimate applies a multiple of 7 to 26 times revenue to SpaceX’s launch and Starlink metrics, while assuming a private valuation of $250 billion for its recently integrated AI segment.â€
Claude from Anthropic: $106 billion
“Valuing Starlink at 15 times its $7.2 billion in annual cash profits, and applying standard revenue multiples to the loss-making rocket launch and AI divisions, SpaceX’s equity value comes to about $106 billion after deducting its net debt of $13 billion.â€
(Noel Randewich)
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/2026/05/21/6a0ed4c9264db808477893.jpg "Faced with strong global demand, Airbus expands its Seville factory to convert civilian planes into military aircraft.")
