The whole bitcoin market is value about $1.2 trillion as of Wednesday. SpaceX, at $2.5 trillion, is value almost twice that, and it’s drawing from the identical threat finances that flows to crypto – the purpose ARK made earlier this week when it funded its SpaceX shopping for by promoting different holdings.
The warning is that expectations now go away little room for error, with some analysts warning {that a} SpaceX stumble would hit the broader market and the AI winners with it.
“With the expectations already sky excessive, there may be little room for error,” Lukman Otunuga, head of markets at FXTM, instructed CoinDesk in an e mail. “Ought to SpaceX disappoint down the road, the fallout will hit the broader inventory market, in addition to the beneficiaries of the AI increase.”
The numbers help that fear. SpaceX posted a $4.94 billion web loss in 2025 on $18.67 billion of income, and at $2.5 trillion, it trades at greater than 130 instances gross sales, a a number of some name meme-stock territory.
As such, SpaceX introduced Tuesday that it has formally agreed to take over Cursor in a deal that values the AI coding startup at $60 billion. Cursor buyers can have the appropriate to obtain SpaceX inventory based mostly on the implied fairness worth of Cursor, in response to an organization submitting.
