Wall Street Sees SpaceX Surpassing Nvidia in Long-Term Valuation - The Globe and Mail

Recent reports from Wall Street analysts have expressed bullish sentiment toward SpaceX, with some suggesting its market valuation could surpass that of NVIDIA, the world's most valuable company. This... Read original →

Wall Street’s SpaceX valuation surge hinges on Starlink’s global coverage and AI-edge convergence, yet its 108x price-to-sales ratio already prices in five years of cash flow. Technically, if Starlink user terminals shift to 3nm EUV chips, competition for TSMC’s advanced nodes will intensify, indirectly inflating global AI foundry costs. Regulatory headwinds—tighter FCC spectrum rules and ITU orbital slot constraints—could add 15% to operating expenses by 2027. Competitively, Amazon’s Kuiper is fast-tracking Gen-2 LEO satellites and co-developing custom RF SoCs with Intel to block Starlink’s expansion in Latin America and Southeast Asia. Within 24 months, unless Starlink achieves EBITDA positivity, the valuation bubble will likely burst during the next Fed rate hike cycle—space economics must ultimately obey unit economics.