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In June 2026, SpaceX, the company owned by Elon Musk, went public on the U.S. stock market in what became the world's largest initial public offering, raising approximately $75 billion by selling only 5% of its shares. The share price was set at $135, initially soaring to over $160, which valued the company at more than two trillion dollars. Despite this, revenue reports show a loss of about $4.9 billion in 2025, with total revenues reaching $18.6 billion. The company's main sources of income are primarily from the satellite internet service "Starlink," whose revenues have surged since 2022 due to its use supporting the Russia-Ukraine war, reaching $11.4 billion in 2025. China, a key competitor in the same field, is considering launching around 50,000 satellites by 2030 and aims to develop advanced technological capabilities in space-based internet. Meanwhile, the U.S. market continues to embrace high valuations for tech companies, supported by enormous liquidity and an economic model that heavily funds unprofitable firms before they turn a profit—unlike China, which focuses on developing production capacity and infrastructure to achieve widespread and systematic technological maturity.
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