Gene Munster, managing partner and co-founder of Deepwater Asset Management, believes SpaceX‘s upcoming public debut on June 12 is more than just another high-profile IPO.

In a post on X Tuesday, Munster described the IPO as “arguably the most exciting event in tech history,” arguing that SpaceX‘s combination of launch infrastructure, satellite connectivity, and artificial intelligence ambitions sets it apart from traditional technology companies.

Why Munster Thinks SpaceX Is Different

“While everything the company has built rests on decades of tech progress, which I don't want to diminish, its unique assets and sovereign AI mission position it to become one of the fastest-growing and most defensible companies of the next decade,” Munster added.

While he described Alphabet Inc.’s Google (NASDAQ:GOOG) (NASDAQ:GOOGL) as SpaceX’s closest competitor, Munster argued the technology giant still lacks several pieces needed to build a fully integrated AI platform.

“Google is the closest competitor, and Google is formidable. But Google doesn’t make rockets. Google doesn’t run an ISP. Google can’t put a data center in orbit,” Munster said.

The @SpaceX IPO is arguably the most exciting event in tech history. While everything the company has built rests on decades of tech progress, which I don't want to diminish, its unique assets and sovereign AI mission position it to become one ...