TechFlow news, May 29: According to a Fortune report, David Trainer, CEO of research firm New Constructs, advised investors to avoid participating in SpaceX’s initial public offering (IPO), citing its estimated $1.75 trillion market capitalization as significantly overvalued.
The report states that SpaceX plans to raise $80 billion, of which approximately $62.6 billion—about 78%—will be used to repay debts owed to Valor Equity Partners, xAI, X Corp., and EchoStar. Trainer also noted that SpaceX currently ranks last among its peers in connectivity services and AI-related competitors in terms of profitability, and may need to continue relying on debt financing or equity issuance to fund capital expenditures such as data centers.
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