SpaceX has experienced a dramatic surge in its market valuation following its recent initial public offering (IPO) on June 12, 2026, listing on Nasdaq at $135 per share. In just three trading sessions, the stock jumped approximately 50% from its IPO price, reaching a market capitalization of $2.65 trillion by June 16, 2026. This pushed SpaceX past Amazon to become the world's fifth most valuable company, and it even briefly touched a $3 trillion valuation, surpassing Microsoft in early trading on June 16. This rapid ascent is largely attributed to the company's aggressive pivot into sovereign AI infrastructure, particularly its acquisition of xAI earlier this year which integrated xAI's Colossus computing clusters and Grok conversational layers with Starlink's satellite network.
The IPO itself was the largest in Wall Street history, raising a record-breaking $85.7 billion after underwriters fully exercised the greenshoe option. Trading volumes have been exceptionally high, with over $23 billion in SpaceX stock changing hands in a single day, outstripping the combined daily transaction volumes of Nvidia, Apple, and Tesla. Demand for the stock far outstripped the limited supply of freely traded shares, which were only about 4.2% of the total on day one. Investor orders for the IPO exceeded $250 billion against a $75 billion target.
Adding to the momentum, SpaceX announced the acquisition of Cursor, an AI coding tool developed by Anysphere, for $60 billion in an all-stock deal. This acquisition, which had been rumored for months and finalized on June 17, 2026, is seen as a strategic move to bolster SpaceX's AI arsenal, particularly in AI-driven coding. The deal was viewed favorably by the market, with SpaceX shares jumping as much as 16% on the announcement, adding nearly $247 billion to its market cap and further propelling its valuation. The company also made history on its first day of options trading, with 1.8 million contracts changing hands and generating about $2.8 billion in option premiums, surpassing Meta's previous record. Most of these were bullish call options, indicating strong investor confidence in SpaceX's future growth.
