Market implications suggest upside if SpaceX’s valuation climbs further, as Starlink and rocket initiatives expand.

Analysts view Alphabet (GOOGL) as a Strong Buy, with multiple targets suggesting modest upside to around $323.64.

Alphabet stands to gain again from SpaceX’s valuation, with a tender offer placing SpaceX at about $800 billion and lifting Alphabet’s unrealized gains from its SpaceX stake.

Alphabet’s 2015 $1 billion funding round with Fidelity gave roughly 10% ownership, though current private ownership percentages aren’t disclosed.

Google invested $900 million for a 7% stake in SpaceX in 2015, a cornerstone investment that helped SpaceX advance its Starlink project.

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Starlink’s ongoing use of Google Cloud services has yielded strategic and revenue benefits for Google beyond straightforward financial returns.

Early skepticism about SpaceX’s costs and feasibility, especially around ground-based antennas, terminals, and spectrum rights, gave way as Starlink addressed many of these concerns.

SpaceX has evolved to serve a broad customer base for Starlink, including the Ukrainian military and major airlines such as United.

The 2015 investment also supported SpaceX’s development of Starlink, which has achieved widespread adoption, including by the Ukrainian military and United Airlines.

Elon Musk publicly called SpaceX’s IPO timing “accurate,” signaling momentum around the offer on social media.

SpaceX continues to grow with Starlink and rocket technology, reflecting strong investor appetite for space-sector exposure.