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SpaceX and Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk reiterated his companies' dominance in the space and automotive sectors amid criticism of the billionaire's predictions for the future.
Responding to a post on the social media platform X on Thursday, which criticized Musk for "misjudging timelines" for his predictions, the billionaire responded by saying that his predictions were at the 50th percentile, adding that he "should be early half the time and late half the time."
Musk then criticized the "news" for only reporting when Musk's predictions were late. He added that "looking at the actual progress" of his companies is what matters and "cuts through the bulls**t."
Musk reaffirmed that SpaceX "will do ~90% of all Earth payload to orbit this year" and touted Tesla as being "worth more than the rest of the auto industry on Earth combined."
It's worth noting that the billionaire has made these claims before, with Musk earlier predicting that the company's Starship rocket would put 95% of Earth's orbital payload in space once the rocket is "flying frequently with real payloads."
Musk had also claimed that Tesla was worth more than its competitors in the buildup to this month's shareholder meeting and the vote on Musk's trillion-dollar pay package, which received approval from the company's investors.
Musk's claim was based on Tesla's market capitalization, which currently stands at over $1.3 trillion, leaps above the closest competitor, Japanese automaker Toyota Motor Corp (NYSE:TM), which is valued at close to $250 billion.
Tesla's market capitalization is also worth more than the combined market capitalization of the next 14 automakers, including Ford Motor Co. (NYSE:F) and General Motors Co. (NYSE:GM).
Elsewhere, Musk touted SpaceX as a crucial element towards realizing solar-powered AI datacenters in orbit. "Starship should be able to deliver around 300 GW per year of solar-powered AI satellites to orbit," Musk said.
The billionaire's ambitions have also been echoed in the past by Jeff Bezos, who claimed that the idea of Gigawatt-scale data centers in space could prove to be more cost-effective.
Tesla scores well on Momentum and Quality metrics, while offering satisfactory Growth, but poor Value. Tesla also has a favourable price trend in the Medium and Long term. For more such insights, sign up for Benzinga Edge Stock Rankings today!
Price Action: TSLA recorded a 2.17% decline to $395.23 at market close, but surged 0.60% to $397.60 during after-hours trading, according to Benzinga Pro data.
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