Overview
- SpaceX, which completed its public listing on Monday, June 15, raised $86 billion after underwriters exercised an 83‑million‑share overallotment and sold a total of 639 million shares at $135 each.
- The stock's rapid post‑IPO climb pushed the company's market capitalization into the roughly $2 trillion to $2.9 trillion range and briefly placed SpaceX among the five largest public companies, surpassing Amazon in early trading.
- SpaceX filed to buy AI code‑assist firm Cursor in a stock transaction valuing Cursor at about $60 billion, signalling a push beyond aerospace into software and AI infrastructure.
- Analysts cautioned that the valuation rests heavily on Starlink revenue and future projects while other units such as xAI show multibillion‑dollar losses and public filings imply valuation multiples far above typical peers.
- The IPO has re‑energized retail and venture investment in the commercial space sector, generated roughly $500 million in underwriting fees for banks, and raised questions about regulatory scrutiny and the need for near‑term earnings disclosures.