Is SpaceX Really Worth More Than Micron and AMD Combined? Here's the Unvarnished Truth. - Yahoo Finance

Since its IPO on June 12, 2026, SpaceX has seen its market capitalization rise rapidly, surpassing the combined value of Micron Technologies and AMD. While this phenomenon has sparked widespread debat... Read original →

SpaceX’s market cap eclipsing Micron and AMD combined reflects speculative fervor over space-based economics, not sustainable fundamentals. Technologically, Starlink and xAI spur demand for radiation-hardened, sub-3nm chips and orbital compute nodes—but this niche can’t offset Micron’s DRAM oversupply. Regulatory risk looms large: U.S. export controls increasingly tie satellite hardware to AI chip restrictions, threatening SpaceX’s reliance on advanced packaging from Taiwan, China. Competitively, NVIDIA’s Grace-Hopper and AMD’s MI300X are capturing ground-station AI workloads, undermining SpaceX’s vertical integration narrative. Within 12–24 months, without tangible EBITDA from its $28.5T TAM fantasy, SpaceX’s valuation will buckle under persistent high rates. Capital markets reward cash flow, not cosmic ambition.