OpenAI’s secondary share sales have pushed its valuation above $90 billion, edging past SpaceX, which now trades closer to $80 billion. This shift highlights the difference between AI’s fast-scaling software revenue and the capital-heavy infrastructure of space launches. We break down how ChatGPT subscriptions, enterprise integrations, and Microsoft’s backing helped OpenAI outpace SpaceX, and why investor appetite has moved from rockets to AI tools.

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