SpaceX Market Cap Hits $2 Trillion Amid Valuation Debate

Space Exploration Technologies Corp. holds a market capitalization of $2 trillion following the largest IPO in history in June 2026. The stock debuted at $150 per share and has since experienced significant volatility, peaking at $225.64 before dropping to $104.83. Despite this, Wall Street analysts maintain a consensus price target of $227.66, suggesting over 50% upside over the next year.

Financial performance remains strong, with second-quarter revenue reaching $7.8 billion, a 92% year-over-year increase. Projections for 2026 revenue stand at $44.6 billion, while Goldman Sachs forecasts revenue could climb to $474 billion by 2030, with AI contributing $322 billion of that total. The company's growth is anchored by its dominance in U.S. commercial rocket launches—accounting for 80% of such launches in 2025—and the Starlink satellite broadband service.

However, some analysts question the current valuation, which trades at nearly 100 times sales. Morningstar warns that the IPO price assumes a highly optimistic Moonshot scenario involving orbital data centers and rapidly reusable Starships, describing the outlook as very uncertain. The company's long-term strategy divides its value across space-based solutions, Starlink connectivity, and AI ambitions, the latter of which is valued at $26.5 trillion.