AI isn't the only component of the bubble. SpaceX which has a genuinely successful business with Falcon 9, is also a huge bubble. SpaceX launches an amazing 25

AI isn't the only component of the bubble. SpaceX which has a genuinely successful business with Falcon 9, is also a huge bubble. SpaceX launches an amazing 25 times as many rockets as ULA in a year. But 2/3 of those are Starlink launches. No outside revenue. And SpaceX is valued at about 200X the valuation of ULA.