The potential IPO of SpaceX at a valuation exceeding $2 trillion is dividing investors, but Tema ETFs believes the market may still be underestimating what Elon Musk's space giant could ultimately become.
A recent research note from the firm argues that SpaceX should no longer be viewed merely as a rocket manufacturer, but rather as "the infrastructure layer for a future space economy."
The debate comes as prediction markets increasingly price in a SpaceX valuation north of $2 trillion ahead of its anticipated IPO, while Benzinga polling shows many retail investors remain skeptical about paying such lofty multiples.
Yet Tema CIO Yuri Khodjamirian argues the market narrative around SpaceX is evolving beyond launches and reusable rockets into broadband infrastructure, AI data capacity, satellite dominance and eventually entirely new space-enabled industries.
SpaceX May Already Have The Economics To Support A $2 Trillion Valuation
