SpaceX Opens at $150, Near $2 Trillion Valuation

SpaceX began trading on Nasdaq under the SPCX ticker on Friday, opening at $150 a share, more than 10% above its IPO price. The opening price placed the company just under a $2 trillion market value and among the six most valuable U.S. companies.

Wolfe Research initiated coverage of SPCX with an Outperform rating and a $175 price target, implying roughly 17% upside from the opening price. Oppenheimer set a $190 target and New Street Research set a $165 target. The IPO and related transactions generated about $75 billion in new capital for the company.

Wolfe Research noted that SpaceX accounts for five of every six domestic launches and highlighted Starship reusability as a factor that could lower per-launch costs and change launch economics.

Analysts and company filings say lower launch costs could support expansion of Starlink, SpaceX’s satellite internet business. Filings and investor commentary include plans to deploy more than 100,000 communications satellites over time and to build data centers in orbit to support computing workloads.

SpaceX completed a merger with xAI in early 2026 that brought the Grok AI model and the X social platform into its corporate structure. Wolfe Research wrote that combining AI assets with access to space-based infrastructure could affect the company’s cost profile for computational tasks.

Company filings show an accumulated deficit of about $41.3 billion since SpaceX was founded in 2002; some investors cite that figure as a financial risk. At the same time, analysts say the new capital gives SpaceX a larger balance sheet to fund planned investments.

SpaceX has spent two decades building rockets, satellites and ground systems and has emphasized reusability as a path to lower costs. Market attention on the Starship program and the commercial rollout of Starlink shaped investor expectations ahead of the trading debut.