SpaceX shares rose 6% in early trading Monday, extending an already record-breaking stock market debut, suggesting that investor appetite for marquee tech names is still strong despite concerns of a bubble.
The space giant is yet to turn a profit, but its revenues have grown exponentially and its Starlink arm dominates the space broadband market, while it is expanding into AI infrastructure as demand increases.
One investor warned this month that equity markets are showing signs of a bubble comparable to 2000 or 1929, but others argue that the upward movement is driven by earnings rather than froth. Lenders, at least, are still buying the boom: Nvidia drew $85 billion in orders for a $25 billion bond issuance.