Should You Ignore the SpaceX Hype and Buy Rocket Lab Instead?

SpaceX and Rocket Lab are both benefiting from the growing space economy, but they offer different investment profiles. SpaceX has diversified revenue streams including Starlink (up 69% YoY) and a booming AI/Super Intelligence segment ($7.6B revenue), while Rocket Lab focuses purely on launch services and aerospace equipment. SpaceX trades at 70x sales with a $2.2T market cap, while Rocket Lab trades at 40x sales with a $31.5B market cap. Rocket Lab offers pure-play space exposure but faces near-term risks from Neutron rocket delays pushed to 2027.