Svmuu News: Following its IPO, the stock has continued to soar,its latest market capitalization has surpassed $2.5 trillion (approximately $2.6 trillion), marking a cumulative increase of over 40% since its June 12 listing. It has surged to become the world’s sixth-largest company, approaching twice the market capitalization of Bitcoin, sparking market attention on the “redistribution of venture capital.” Analysts point out that this rally is partly driven by supply-side structural factors, as SpaceX is expanding from a single-sector aerospace company into an “AI+ technology conglomerate.” This “AI innovation + high-growth narrative” is competing with the crypto market for the same pool of risk capital. However, valuation risks for SpaceX have also risen. The company currently reports a loss of approximately $494 million and revenue of about $18.67 billion, resulting in a valuation exceeding 130 times revenue—a level some analysts have described as “meme-like.” (CoinDesk)