SpaceX is worth less than half of its $1.75 trillion IPO target, Morningstar says

Morningstar values SpaceX at $780 billion, half its IPO target

Morningstar valued SpaceX at $780B—half its $1.75T IPO target—citing xAI's weakness against OpenAI and untested orbital technology. For IT leaders, the valuation gap signals Musk's foundation model strategy trails competitors; post-IPO offers better entry points.