Key Points SpaceX seemingly paid relatively little for a division with an unheard-of total addressable market (TAM). The TAM is a big driver of SpaceX's valuation. However, the TAM depends on businesses that are still in their very early stages and aren't necessarily guaranteed to materialize. 10 stocks we like better than Space Exploration Technologies › One of the most controversial aspects of Space Exploration Technologies (NASDAQ: SPCX) is its valuation, due to factors such as its future capabilities, projected revenue and earnings, and total addressable market (TAM), which the company estimates at $28.5 trillion. What's interesting is that SpaceX believes that nearly 93% of its TAM comes from its artificial intelligence (AI) division.
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