SpaceX Market Cap Nears $2 Trillion Ahead of Nasdaq Weighting

Space Exploration Technologies Corp. is seeing a significant increase in market interest as its weight in the Nasdaq-100 index is scheduled to rise from 1.25% to 2.25% on September 21. This rebalancing is expected to push the company's market capitalization toward $2 trillion.

JPMorgan estimates the index shift could attract $15.5 billion in passive fund investments. This financial activity occurs alongside the expiration of lockup periods, which will make more than one billion shares held by employees and early investors tradable by the end of September. A second tranche of shares is scheduled to unlock in November following the release of third-quarter earnings.

The surge in interest extends to the broader space and defense sector, which is experiencing a resurgence in Special Purpose Acquisition Company activity. Six deals have been announced in 2026, and nine additional SPACs are currently seeking targets with $2.35 billion in available cash.