The S&P 500 has been volatile over the past few weeks, and it hasn’t notched a new high in over a month. It’s down 4% over the past month and up 9% year-to-date, ending its streak of annual double-digit gains for now.

The tech sector has been hit harder than others, and Space Exploration Technologies (SPCX -2.33%), or SpaceX, stock is down 11% from its first-day closing price. Let’s check out where it could be in five years.

The space in SpaceX

Despite its extraterrestrial name, SpaceX sees itself as more of an artificial intelligence (AI) company than anything else. Since Elon Musk merged SpaceX with xAI, the AI business is now part of the company, and the company’s vast market opportunity belongs to this segment, which it has renamed…