Value Investors Question SpaceX's Record IPO: 'It's The Future That Kills You'

SpaceX completed the largest IPO in history, raising $75 billion at a $1.77 trillion valuation with shares priced at $135. However, value investors warn the company is overvalued at nearly 100 times sales, with its AI and technology operations still unprofitable. Critics argue the valuation assumes flawless execution and question whether future earnings can justify the premium paid today.