CFRA says 71% of SpaceX’s $2T valuation rests on AI—a claim Grok data can’t support
CFRA analyst Keith Snyder says 71% of SpaceX’s $2 trillion market cap hinges on AI, yet current Grok adoption data makes that claim “almost comical.” With only 1.6% of 117 million users paying for Grok, the AI revenue needed to justify the valuation looks unattainable, raising doubts about the IPO’s pricing.