The analysts see a wide range of possibilities around xAI and find its "economic moat indeterminate."

  • Morningstar analysts believe SpaceX is “significantly overvalued” ahead of its blockbuster IPO.

  • The analysts say xAI poses a “material threat of value destruction” to the company, with its “economic moat indeterminate.”

  • Morningstar values SpaceX at $780 billion, which is roughly 48% below its private market valuation of $1.5 trillion.