Today on Forbes, SpaceX's IPO could leave Tesla eating rocket dust.

Tesla's biggest problem may no longer be Chinese competitors, slowing demand for its EVs,

or the still theoretical payoff from robotaxies and humanoid robots.

It might be SpaceX.

If Elon Musk's rocket and satellite internet company goes public at anything close to the

rumored $1.75 trillion valuation, it will not just be one of the biggest IPOs in history.

It will give Tesla investors tired of waiting for the CEO's promises to

materialize something they haven't had in a while, a potentially bigger, more exciting way to

invest in the Musk myth. Certainly, SpaceX, with its reliable and steady leadership under

longtime president Gwynne Shotwell, is shaping up to be a shinier proxy, with fewer

close competitors or awkward quarterly questions about exactly when Tesla can take on Waymo in

self-driving tech or actually deliver its C-3PO-style robot. Ross Gerber, a Tesla investor

and CEO of Santa Monica, California-based Gerber Kawasaki,

which manages over $4 billion, told Forbes, quote,

There are many Tesla investors who perceive SpaceX to be a better investment for many reasons.

If I sell my Tesla shares, nobody's going to argue that it's not overvalued.

And if I want to buy the sizzle, I'm going to buy SpaceX.

And that's what people want to do.

A lot of people think this is going to be easy money.

That's largely because, despite Tesla's continued profitability,

it's undergoing a fundamental shift from the business that built the brand,

electric vehicle sales, which have plateaued as it waits for new AI-oriented ones to kick in.

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