SpaceX Shares Surge On Record-Breaking IPO Amid Valuation Debates

Record-Setting IPO Propels SpaceX Shares To New Heights

SpaceX shares rose in premarket trading on Monday following the company’s debut on the Nasdaq. After completing the largest initial public offering in history and reaching a market capitalization above $2 trillion, the stock traded about 6% higher, approaching $170.

Impressive Debut And Bold Ambitions

Shares climbed 19% on Friday to close at $161, after being priced at $135 each. Led by Elon Musk, SpaceX has expanded its reusable rocket business and the Starlink satellite internet service while also completing a merger with Musk’s artificial intelligence startup, xAI. The developments come despite a nearly $5 billion loss in 2025, prompting questions among analysts about whether the company’s valuation can be supported by future growth.

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Governance, Growth, And Capital Challenges

Analysts have offered differing views on the stock. CFRA initiated coverage with a “sell” rating and a 12-month price target of $115, citing concerns over SpaceX’s valuation, growth plans and capital requirements. Capital expenditures reached $10.1 billion in the quarter ended March, up from $4.1 billion a year earlier. Morningstar analyst Nicolas Owens also described the shares as overvalued, placing fair value at $63 per share.

Long-Term Perspective And Competitive Edge

Not all analysts share that view. NewStreet Research assigned a price target of $165, with senior analyst James Ratzer arguing that investors should assess SpaceX over a 20- to 25-year horizon. Ratzer pointed to the company’s position in rocket launches and the development of Starship, which is expected to significantly increase payload capacity. He also highlighted SpaceX’s broader plans, including potential orbital data centers designed to support artificial intelligence applications.

The Road Ahead For SpaceX

Market participants continue to debate whether the company’s valuation reflects its long-term prospects. Paulina Roszkowska, finance lecturer at Bayes Business School, said SpaceX will need to translate its growth plans into sustainable cash flows to support its market value. The company’s performance in the coming years is likely to be closely watched as investors evaluate whether its expansion strategy can deliver the growth implied by its valuation.

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Meta Unveils Muse Wonder Models In A Bid For Frontier AI Leadership

by THEFUTURE.TEAM

October 13, 2026

Meta has introduced two new AI models, Muse Wonder and Muse Wonder Full, signalling a more ambitious move into frontier AI. The releases build on Muse Spark but target more demanding tasks, including coding, while placing greater emphasis on long-term memory and personalised assistance.

Larger Models Target More Demanding Tasks

Unlike Muse Spark, which was designed for low latency and lightweight use, Muse Wonder and Wonder Full are significantly larger and, according to Meta, more capable. The company reports stronger benchmark performance and improvements on demanding workloads, including coding.

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According to Meta’s model card, both models achieved benchmark results comparable to Fable 5.1 and GPT-6 Astra in the company’s internal testing. Meta described the release as “the next step on our scaling ladder and a major leap toward personal superintelligence” in its announcement.

Pricing Reflects Meta’s Frontier Ambitions

The models’ pricing places them in the premium AI segment. Through the Meta Model API, Muse Wonder will cost $4 per million input tokens and $20 per million output tokens, putting it in a similar pricing tier to GPT-6 Sol and Opus 5.5.

Muse Wonder Full, by contrast, will not be offered through the API. Meta says it will be exclusive to Muse Code subscribers, tying access to its most advanced model to a premium product. Both models will also power the Muse agent.

Long-Term Memory Takes Centre Stage

Meta is increasingly positioning its AI strategy around assistants that can support users over time rather than respond only to individual prompts. A central part of that approach is what the company calls “active memory”: the ability to retain, organise and synthesise information provided by users across extended periods.

Meta points to the MemoryBench benchmark, which evaluates systems designed for continual learning and memory construction. The company says Muse Wonder now outperforms Fable, Opus and Astra on this measure.

“We put a tremendous amount of effort into making sure your model can remember what’s important to you over days, weeks, months, and beyond,” research scientist Kavya Kopparapu said in a launch video.

New Models Follow Meta’s AI Reorganisation

The launch is also significant within Meta’s broader AI strategy. It is the company’s first frontier-model release since Scale AI founder Alexandr Wang reorganised its AI operations in August 2025. Meta has since introduced Muse Spark and the Muse agent, while making fewer high-profile model announcements than competitors such as OpenAI and Anthropic.

The new models were trained at Meta’s Prometheus data centre in central Ohio, which came online earlier in 2026, according to the company. The facility highlights the growing importance of infrastructure in the race to develop advanced AI systems, where performance depends not only on algorithms and data but also on computing capacity, data-centre investment and access to capital.

As competition intensifies, Muse Wonder and Wonder Full represent a broader bet on larger models, persistent memory and premium AI products. Their longer-term significance will depend on how their reported capabilities translate into real-world performance and whether users find enough value to pay for access.

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