Shares of SpaceX soar post-IPO, pushing its market cap to $2.8 trillion amid skepticism over fundamentals and new AI deals.
SpaceX became the fifth-most valuable company globally after its shares jumped 44% following a record $2.1 trillion IPO. The stock opened at $150 and now values the firm at $2.8 trillion, despite posting a $5 billion net loss on $19 billion in 2025 revenue.
Critics argue the valuation disconnects from traditional metrics, but new AI infrastructure deals with Anthropic and Alphabet may reshape its revenue outlook. Anthropic committed $1.25 billion monthly through 2029, totaling nearly $45 billion over three years.
The surge reflects investor optimism about SpaceX’s long-term growth potential, though skepticism persists over its near-term profitability.