SpaceX stock (NASDAQ:SPCX) trades at $116 and Cerebras Systems (NASDAQ:CBRS) at $193. SpaceX stock is on 597 times forecast 2026 earnings; Cerebras is still loss-making. Cerebras gets there faster: $5.85 in 2028 and $16.55 in 2029, taking it from 32.9 times to 11.6 times. SpaceX sits on 38 times 2026 revenue, falling to 4.1 times by 2030. The issue is that those forecast revenue numbers involve near-flawless execution — $365bn of revenue by 2030 against roughly $39bn this year.