After Elon Musk's SpaceX completed its market debut, veteran valuation expert Aswath Damodaran has warned that the company’s soaring valuation rests heavily on uncertain assumptions around artificial intelligence (AI), even as its core businesses remain relatively niche.
“If you look at SpaceX, it started as a space launch business… but even after they got their feet on the ground, it’s not a big business,” Damodaran said, noting that despite its technological edge, the market for satellite launches remains limited.
