Also, SpaceX is a rocket and communications company with a secondary AI play, where Anthropic and OpenAI are pure AI companies.

And it is far and away the world leader in satellite launch capacity and satellite internet.

Does that justify the massive valuation? Probably not. But it's a factor.

If you sum the valuations of the company from its individual parts, no one sane would value it more than half a billion. But look at TSLA a P/E still at 370.

Who is the smart and who is the idiot?

The one who invested in it $40 or the one who was saying that even at $40 it was already too expensive?