NEW YORK — SpaceX has opened a remarkable lead over Tesla on Wall Street, with the rocket and connectivity giant now worth almost $800 billion more than the automaker Elon Musk built first. The gap, highlighted in fresh analysis this week, captures how investors are pricing two very different growth stories, even as both trade near record highs.
Two Giants, Two Valuations
SpaceX — NASDAQ: SPCX — closed around $168 a share for a market value of roughly $2.27 trillion, while Tesla — NASDAQ: TSLA — ended near $378, worth about $1.49 trillion. That leaves SpaceX ahead by close to $800 billion, a striking spread given that SpaceX books far less revenue than Tesla. Over the past four reported quarters, SpaceX took in about $23 billion, less than a quarter of Tesla's roughly $104 billion.
The premium rests on what investors believe SpaceX is becoming. As recent coverage of Musk's AI-compute spending noted, SpaceX is pouring capital into launch, connectivity and artificial intelligence all at once, and the market is rewarding that optionality. Tesla, by contrast, is valued as a profitable, cash-generating business with its own enormous upside in autonomy and robotics.
What the Tape Shows
In the latest session, $SPCX changed hands near $160.57, down 4.20% on the day, while $TSLA traded around $375.00, off 0.74%. Both remain near the upper end of their 52-week ranges after a powerful run, with $TSLA having recently pushed toward $379 and $SPCX holding close to its highs above $170. Traders also kept an eye on the broader tape, with the $QQQ and $SPY hovering near records and chip bellwether $NVDA — a key SpaceX supplier — still in focus.
