Space Exploration Technologies has climbed quickly in recent weeks, which leaves investors asking whether the stock price now lines up with the book value that underpins it. With sentiment swinging around new AI and launch headlines, the key issue is how much balance sheet backing the current valuation really has. The share price has risen 16.2% over the past month, so anyone looking at Space Exploration Technologies now has to judge whether recent enthusiasm has moved ahead of the balance sheet. The plan to raise about US$40b in debt to fund Nvidia AI hardware and data centers may support new revenue streams over time, while also increasing financial leverage that book value needs to absorb.
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