spaceX has negative earnings and cashflow. They are going by price to revenue ratio, including about half the revenue being inflated datacenter rental rates from Anthropic and Google (large SpaceX shareholder) that let them cancel at any time. 75 price to revenue ratio is much higher than previous record that was facebook IPO. Facebook was just a web site that serves ads. Less than $1/user in computing hardware. AI is $30 to $300 hardware costs per user… assuming there are a lot of users. The other absurdity in Spacex prospectus is a $26T enterprise AI total addressable market. Even if true, grok’s share going up has no basis in reality.
garbage_world@lemmy.world 1 month ago
25 P/E ratio isn’t even that bad, especially for a tech company
100 on the other hand…
humanspiral@lemmy.ca 1 month ago
PeriodicallyPedantic@lemmy.ca 1 month ago
For a startup.
When you have a virtual monopoly and are the company with the world’s highest valuation, you shouldn’t be in growth mode anymore. This valuation is bananas