SpaceX Shares Recover After Record-Breaking IPO

Space Exploration Technologies Corp. began trading on the Nasdaq on June 12, 2026, following the largest initial public offering on record. The company has since established a dominant market position, accounting for 85% of the mass carried into orbit annually and operating a Starlink network of over 9,600 satellites with 12 million subscribers.

After experiencing significant volatility with share prices ranging between $104.83 and $225.64, the stock closed at $135 on August 24, returning to its initial offering price. Shares rose nearly 30% during August, reaching approximately $138. This recovery followed strong second-quarter financial results featuring 92% revenue growth, despite a net loss of $541 million. Growth was primarily fueled by the connectivity segment, which grew to $4.29 billion, and the artificial intelligence business, which reached $2.56 billion.

SpaceX is aggressively expanding its AI footprint, renting compute capacity to Google for $920 million per month and to Anthropic for $1.25 billion per month via its Colossus 1 data center. The company also acquired the AI startup Cursor on June 16, 2026. Management estimates a total addressable market of $28.5 trillion, with $26.5 trillion attributed to AI. To further this integration, the company plans to launch orbital data center satellites as early as 2028. SpaceX currently holds $100 billion in cash from its IPO and an additional $25 billion from a bond sale.