--- title: "

Bros, $Tesla(TSLA.US) is still falling so much today! $NVIDIA(NVDA.US) also missed the rally, and $Apple(AAPL.US) is stagnant. All in all, $Advanced Micro Devices(AMD.US) stabilized at 55, and $Alphabet(GOOGL.US) had a quick short-term trade. Let's just watch the show, bros!

" type: "Topics" locale: "en" url: "https://longbridge.com/en/topics/39503462.md" description: "🚀SpaceX's valuation is approaching $1.75 trillion, while the entire space industry chain is still at the "tens of billions" level. What I care more about is not the gap, but when it will be revalued. If we only look at the numbers, this comparison seems a bit unreal: on one side is SpaceX, which hasn't even gone public yet, with a valuation nearing $1.75 trillion. On the other side is a whole batch of listed space companies, still stuck between tens of billions and hundreds of billions. The question isn't "which one is expensive and which one is cheap," but rather: 👉 Is the pricing of this entire industry chain still stuck in an old era? I've reorganized this set of companies..." datetime: "2026-03-25T06:50:25.000Z" locales: - [en](https://longbridge.com/en/topics/39503462.md) - [zh-CN](https://longbridge.com/zh-CN/topics/39503462.md) - [zh-HK](https://longbridge.com/zh-HK/topics/39503462.md) author: "[辰逸](https://longbridge.com/en/profiles/16318663.md)" --- #

🚀SpaceX's valuation is approaching $1.75 trillion, while the entire space industry chain is still at the "tens of billions level"—what I care more about is not the gap, but when it will be revalued. If you only look at the numbers, this comparison seems a bit unreal: On one side is SpaceX, which hasn't even gone public yet, with a valuation already close to $1.75 trillion. On the other side is a whole batch of listed space companies, still stuck between tens of billions and hundreds of billions. The question isn't "which is expensive or cheap," but— 👉 Is the pricing of this entire industry chain still stuck in the old phase? I've reorganized this group of companies, and it looks more like a ladder from "foundation to application": $Satellogic(SATL.US) $BlackSky Tech(BKSY.US) $Voyager Tech(VOYG.US) $Redwire(RDW.US) $Intuitive Machines(LUNR.US) $Planet Labs(PL.US) $AST SpaceMobile(ASTS.US) $Rocket Lab(RKLB.US) The current market cap distribution of these companies essentially represents: 👉 The market's different expectations for the "pace of space commercialization" Not just a simple gap in scale. $Satellogic(SATL.US) ~ $700M Still in an earlier stage, satellite communication networks are still expanding, a typical "build capability first" company. This stage is the hardest for proving the business model, but once it works, the upside is also the greatest. $BlackSky Tech(BKSY.US) ~ $1B Earth observation data is moving from government demand to commercial applications. The key isn't how many satellites are launched, but whether the data can become recurring revenue. $Voyager Tech(VOYG.US) ~ $1.6B Leans towards defense and space system integration, more tied to government contracts. This type of company has stronger stability, but its explosive potential depends on the contract cycle. $Redwire(RDW.US) ~ $1.8B A supply chain player, akin to "underlying manufacturing for the space industry." When the industry enters an expansion phase, these companies are often the first to benefit. $Intuitive Machines(LUNR.US) ~ $4.4B Directly involved in lunar missions and NASA projects. If "returning to the moon" becomes a long-term trend, its position will become increasingly critical. $Planet Labs(PL.US) ~ $11.7B Has already shifted from a "satellite company" to a "data company." The real value isn't in the hardware, but in whether the data services can scale. $AST SpaceMobile(ASTS.US) ~ $33.9B Working on one of the most imaginative things— 👉 Using satellites to connect directly to phones. If successful, it could reshape the global communication structure. $Rocket Lab(RKLB.US) ~ $39B The company closest to a "SpaceX-like path." From launch to manufacturing, to platform capabilities, gradually building a complete closed loop. This is also why the market gives it a higher valuation. What really concerns me isn't the current market caps of these companies, but: 👉 Are they positioned "before the industry inflection point"? SpaceX's high valuation essentially means the market has already priced in: Starlink's commercialization Declining launch costs Space becoming infrastructure But the problem is— 👉 This logic doesn't belong to SpaceX alone. Once the market starts believing that "space is not a story, but an industry," the valuation framework will shift upward as a whole, not just concentrate on one company. This is the so-called "valuation transmission." Many people will wait: Wait for SpaceX to go public. Wait for higher industry certainty. Wait for financial reports to deliver. But historically, the real gains often happen: 👉 When the certainty hasn't been fully acknowledged by the market yet. I won't simply say "it will definitely explode in the coming months," but one thing is clear: When an industry crosses from 0 to 1, the market won't slowly give you chances; it will reprice quickly. So what I'm more focused on is: 👉 At this current stage, is it "storytelling" or "starting to deliver"? If it has entered the early delivery phase, then these current market caps might just be the starting point. If not yet, then the time cost is more important than the price. Looking back two years from now, what really creates the gap might not be which company rose the most, but—who was already positioned inside "before the industry truly took off." Are you more inclined to participate in this track right now, or wait until after SpaceX's IPO to decide whether to enter? ### Related Stocks - [ASTS.US](https://longbridge.com/en/quote/ASTS.US.md) - [LUNR.US](https://longbridge.com/en/quote/LUNR.US.md) - [BKSY.US](https://longbridge.com/en/quote/BKSY.US.md) - [SATL.US](https://longbridge.com/en/quote/SATL.US.md) - [PL.US](https://longbridge.com/en/quote/PL.US.md) - [RKLB.US](https://longbridge.com/en/quote/RKLB.US.md) - [RDW.US](https://longbridge.com/en/quote/RDW.US.md) - [SATLW.US](https://longbridge.com/en/quote/SATLW.US.md) - [VOYG.US](https://longbridge.com/en/quote/VOYG.US.md) ## Comments (3) - **辰逸 · 2026-03-30T14:08:42.000Z**: Should all be fine, tiger 🐯, bull 🐮, what are you using now? - **RUI RUI · 2026-03-26T11:26:24.000Z**: Which brokerage firm can apply for an IPO of US stocks?