A summary of a Korea Economic Daily report on SpaceX, based on a Financial Times article, highlights diverging investor perspectives. Bond investors focused on the investment-grade status of SpaceX bonds, their relatively cheap pricing and Starlink’s cash flow. Equity investors placed greater value on the growth potential of xAI and the expansion of SpaceX’s space business, despite the high valuation. The FT said expectations for Starlink-led deleveraging could clash with expectations for increased capital spending on xAI and space data centers among bond and equity investors. The report notes that differing interpretations of SpaceX’s fundraising reveal diverging risk appetites toward growth stocks. The Financial Times reported on June 30 that credit investors in SpaceX’s first bond sale took the company’s presentation materials seriously, but not literally. SpaceX brought its first bond issue to market last week. All three major credit rating firms assigned the debt investment-grade ratings. Even so, the bonds were priced cheaply for that rating band. They were still priced meaningfully better than Oracle, which investors view as a cash-burning technology company.