Tech stocks today: SpaceX becomes more valuable than Tesla

Article excerpt

SpaceX has surpassed Tesla in valuation, marking a significant shift in the hierarchy of Elon Musk's companies. The aerospace manufacturer's latest funding round valued it above the electric vehicle maker, a reversal of their long-standing relationship in the market. The milestone reflects growing investor confidence in SpaceX's satellite internet ambitions and space exploration business, even as Tesla faces competitive pressures and growth headwinds in the EV sector. Tech stocks broadly tracked the movement as investors reassessed valuations across the sector.