{"id":"9bf5086931827a2f48a62f989ab2bfd869f97f275fb40dcbef1536e6ac03f647","title":"Aswath Damodaran argues in his post that SpaceX’s story is bigger and more volatile","argument":"Aswath Damodaran’s post, published June 4, 2026, updates his SpaceX valuation after reviewing the company’s prospectus. He says it changes some assumptions but leaves his broad growth story intact: Starlink appears best positioned for near-term revenue growth and profits, while the AI business brings a large opportunity alongside profitability and investment challenges. Damodaran raises his target revenue for AI, lowers its target operating margin, and increases near-term reinvestment assumptions. 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