This research firm says SpaceX is worth less than half its $2.27 trillion IPO target

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.