Palantir Technologies Inc.

🇺🇸NASDAQ Global Select
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Palantir Technologies Inc. stock analysis PLTR overview
Slightly Bullish +15

Palantir CEO says he's 'rooting for' SpaceX IPO: Should you too?

🚀 Palantir CEO Alex Karp publicly endorsed SpaceX's IPO as a 'blessing for America' and praised Elon Musk's execution track record.

📉 SpaceX is targeting a near-$1.8 trillion valuation, implying a trailing price-to-sales ratio of roughly 95x.

💰 Starlink alone generated over $11 billion in revenue but the company reported a $2.6 billion operating loss for 2025.

🤝 Karp clarified he is rooting for SpaceX as a partner and peer, not making a personal financial endorsement or investment.

⚠️ Analysts warn of potential post-IPO price resets, with some predicting shares could fall to $75 following the debut.

📊 The IPO demand is reportedly four times oversubscribed, indicating intense market enthusiasm despite high valuations.

Bullish Signals
  • SpaceX has rewritten rocket launch economics and built Starlink into a service with over 10.3 million subscribers.
  • Starlink alone generated more than $11 billion in revenue, making it the company's only genuinely profitable division.
  • Alex Karp's endorsement validates SpaceX's engineering credentials and founder-led execution capabilities.
  • SpaceX is developing Starship with ambitious goals that stretch to Mars, demonstrating long-term innovation potential.
Risk Factors
  • SpaceX is targeting a valuation of nearly $1.8 trillion, which implies a trailing price-to-sales ratio of roughly 95x.
  • The company reported an operating loss of $2.6 billion for 2025, mostly attributed to its cash-burning xAI division.
  • Morningstar pegs fair value for SpaceX at around $780 billion, less than half the IPO target valuation.
  • Analysts warn that SpaceX stock may fall to as low as $75 in the weeks following its debut due to potential growth disappointment.
Full Analysis
Palantir CEO Alex Karp publicly endorsed SpaceX's upcoming IPO on CNBC, describing it as a 'blessing for America' and expressing strong support for Elon Musk's execution capabilities. While Karp highlighted the engineering brilliance behind SpaceX's rocket launches and Starlink's massive scale—citing over 10.3 million subscribers and $18.7 billion in revenue—he explicitly distinguished between rooting for a company and investing in it, noting he has no personal investment in the IPO. The article analyzes the valuation disparity between SpaceX and its peers, noting that SpaceX is targeting a near-$1.8 trillion valuation with a trailing price-to-sales ratio of roughly 95x. This stands in stark contrast to Nvidia's ~23x multiple and Palantir's own ~73x multiple. Despite Starlink being the only profitable division generating over $11 billion, the company reported a significant operating loss of $2.6 billion for 2025, largely driven by its cash-burning xAI division. Analysts warn that the feverish IPO demand, which is reportedly four times oversubscribed, may lead to a post-listing valuation reset, with some predicting a drop to as low as $75 per share. The piece concludes that while Karp's endorsement validates SpaceX's founder-led success, investors should be cautious about chasing the hype at such high multiples without a financial stake in the outcome.