Morningstar Just Issued The Most Bearish SpaceX Valuation Yet
Quoth the Raven
· QTR’s Fringe Finance
· June 02, 2026 at 23:42
· ⏱ 1 min read
| Read on Substack ↗
Summary
The author argues that the upcoming SpaceX IPO will serve as a crucial referendum on the AI-fueled bull market, as SpaceX sits at the intersection of AI, founder worship, hyperscale infrastructure, and private-market exuberance. The reception of the IPO is seen as a sentiment gauge for the remaining life of the current market cycle, making it a key event to watch.
•Morningstar has issued the most bearish SpaceX valuation yet, though no specific numbers are provided in the article.
•The author views the SpaceX IPO as a meaningful signal on the remaining life of the AI-fueled bull market and one of the most important sentiment gauges.
•SpaceX now sits at the intersection of key bull-market themes: artificial intelligence, founder worship, hyperscale infrastructure spending, private-market exuberance, and investors' willingness to pay extraordinary multiples for distant future possibilities.