HAWTHORNE, August 29, 2026, 14:29 (ET)
- SpaceX finished Friday at $141.50, rising 0.45%, with 55.1 million shares traded.
- The shares are trading 4.8% higher than their $135 IPO price from June.
- Revenue for the second quarter increased by 92% to $7.81 billion.
- Capital expenditure for the quarter totaled $18.37 billion, amounting to 2.35 times the revenue.
Space Exploration Technologies Corp. (NASDAQ: SPCX) rose 0.45% on Friday, ending the session at $141.50. Trading volume reached 55.1 million shares market data.
The slight increase places SpaceX just 4.8% higher than its $135 IPO price. This narrow margin is significant, as the company is simultaneously investing in multiple capital-heavy ventures.
Revenue for the second quarter nearly doubled, reaching $7.81 billion. However, capital spending totaled $18.37 billion, amounting to 2.35 times the quarter’s sales SEC quarterly filing.
AI infrastructure accounted for $15.83 billion, making up 86% of total expenditure. The Connectivity unit generated $4.29 billion in revenue and $1.66 billion in operating income.
The data highlights the internal funding arrangement. Starlink profits fuel unprofitable Space and AI units as those new ventures build up.
| Investor measure | Latest verified figure | What it shows |
|---|---|---|
| Friday close | $141.50 | Trading 4.8% higher than the $135 IPO level |
| Q2 revenue | $7.81 billion | Increased 92% from a year earlier |
| Q2 capital expenditures | $18.37 billion | Equal to 2.35 times the quarterly revenue |
| Q2 adjusted EBITDA | $3.54 billion | Represents 45.3% of revenue |
| Cash and equivalents | $93.52 billion | Covers about 5.1 quarters of Q2 capital outlays |
SpaceX reduced its net loss for the quarter to $541 million, compared to $1.01 billion previously. The firm’s adjusted EBITDA climbed to $3.54 billion. Despite these gains, SpaceX continued to post negative free cash flow Reuters.
The balance sheet provides a buffer. Cash and equivalents stood at $93.52 billion after the June listing generated $85.68 billion in net proceeds.
The offering consisted of 638.9 million Class A shares priced at $135 each. SpaceX additionally secured $25 billion through notes, resulting in total principal debt of $38.43 billion as of June 30 IPO prospectus.
Analysts maintain a positive outlook. The average price target from 35 analysts stands at $219.22, suggesting a potential upside of 54.9%, with projections ranging from $117 to $450.
New developments contribute to operational turbulence. OpenAI announced it will end providing models to Cursor, the coding startup acquired by SpaceX, effective November 12 Reuters report.
Risks: Growth in AI demand may lag behind the pace of infrastructure investment. Delays for Starship, possible regulatory moves, rising debt expenses, and an increase in shares following the IPO could weigh on the valuation.
The investor benchmark is now quantifiable. SpaceX is required to convert its $93.5 billion cash reserve into lasting gains before the IPO premium fades.
