Svmuunotes that Stephen Davies, founder and CEO of Javelin Wealth Management, stated that the current market’s investment enthusiasm for SpaceX, Anthropic, and OpenAI has significantly outpaced their fundamentals. The valuations of these companies have already priced in a substantial amount of future growth expectations. While artificial intelligence has real-world applications and long-term value, the market still needs clearer verification of profitability. Without stable proof of earnings, the valuation expansion of AI-related assets carries the risk of excessive optimism.
Regarding SpaceX, Stephen Davies believes the company still needs to establish a stronger track record of commercialization and market performance before it can become a core allocation in his portfolio. Overall, the current valuation levels of some high-growth tech assets have entered a "somewhat extreme" range, and investors should pay more attention to actual earnings support. (CNBC)