Prediction: This Artificial Intelligence (AI) Stock Will Be Worth More Than SpaceX by the End of 2026
Broadcom is growing at a solid pace, and it trades at a significantly lower valuation than SpaceX.
Overview
Space Exploration Technologies (NASDAQ: SPCX) made history earlier this month with a record initial public offering (IPO), raising $75 billion before brokers exercised their option to buy additional shares, taking the overall capital raise to $85.7 billion.
Popularly known as SpaceX, the Elon Musk-led company now holds the record for the biggest IPO in history. The stock surged following the listing, but it didn't take long for the hype to fade. SpaceX stock is down 24% from the high it hit on June 16. However, it remains among the largest companies in the world, with a market cap of just over $2 trillion as of this writing.
Details
SpaceX is currently the seventh-largest company in the world by market cap, followed by Broadcom (NASDAQ: AVGO) with a market cap of $1.8 billion. I won't be surprised to see SpaceX being overtaken by Broadcom by the end of the year. Let's see why that might be the case.
Source
Originally published at www.fool.com.