News linked to both this project and an event.
Morgan Stanley analysts stated that if SpaceX's stock price falls to $100 per share, it implies the market's valuation of its AI business has dropped to zero. SpaceX launched an IPO valued at $86 billion in mid-June, and this week it fell to a low of $110.85, down 18% from the offering price. Analysts assigned a target price of $300 per share to the stock, with more than half derived from the AI business valuation. Previously, SpaceX entered the AI infrastructure sector leveraging its Starlink satellite network, providing low-latency data transmission services for large model training.
According to the Financial Times, investors are increasingly betting on a decline in SpaceX's stock price, with the stock price falling below the offering price for the first time just weeks after its listing. The report states that SpaceX's initial valuation incorporated high expectations for future growth, such as Starlink satellite internet expansion, commercialization of space business, and AI-related potential. Although previously favored by the market due to its rocket business, satellite internet, and artificial intelligence positioning, attracting significant capital attention during the early listing period, the retreat in stock price has led some traders to begin betting on further declines through short selling or other bearish strategies. Currently, SpaceX has not yet responded to this market trading situation.
as the 25-day quiet period following SpaceX's (SPCX) June IPO comes to an end, Wall Street analysts have begun releasing formal research reports. Multiple major brokerages have issued favorable ratings, indicating institutional investors remain optimistic about the company's long-term growth potential.As IPO underwriters, both Goldman Sachs and Morgan Stanley have assigned buy-equivalent ratings to SpaceX. Goldman Sachs analyst Eric Sheridan set a price target of $205, while Morgan Stanley analyst Adam Jonas gave a target of $300. Additionally, institutions such as Bank of America, Citigroup, Deutsche Bank, JPMorgan, and UBS have also initiated coverage with buy or equivalent ratings. Among them, Raymond James Financial provided the most optimistic forecast; analyst Brian Gesuale initiated coverage of SpaceX with a "Strong Buy" rating and a price target as high as $800, believing SpaceX will become "one of the most representative industrial infrastructure companies of the 21st century."Analysis suggests that market optimism towards SpaceX is primarily based on its布局 (layout/foundation) in areas such as rocket launches, Starlink satellite internet, and government contracts. At the same time, the company's communications business can provide a sustainable source of revenue and support future expansion of launch scale.As of March 31, 2026, SpaceX holds 18,712 Bitcoins. Wall Street believes that the concentrated coverage following the end of the IPO quiet period provides a window for institutional investors to conduct their first systematic assessment of SpaceX's valuation. The fact that nearly all major institutions simultaneously issued positive ratings is relatively rare for large-scale IPOs. (CoinDesk)
According to reports, SpaceX, the aerospace company led by Elon Musk, has attracted over $250 billion in investment demand for its IPO, surpassing its planned fundraising target of $75 billion. The offering is nearly 4 times oversubscribed, valuing the company at $1.8 trillion. Bankers and investors noted that long-term funds have submitted large orders. Pricing is expected to be finalized on Thursday, though demand figures could still change before orders are placed by major institutional investors. SpaceX's growth narrative is primarily tied to its satellite internet business, Starlink, which has become a significant source of revenue and profit for the company. SpaceX also highlighted that its artificial intelligence products address a market opportunity worth $23 trillion. Cryptocurrency exchanges including Binance, Coinbase, Kraken, and Bybit have listed pre-IPO perpetual futures for SPCX this month. Binance's related product has accumulated a trading volume of $2.1 billion over 18 days, covering over 130 countries. Decentralized exchange Hyperliquid recorded a trading volume of $70 million in the past 24 hours, with open interest exceeding $115 million. (Cointelegraph)
Odaily Seer Channel monitoring shows that Polymarket has launched a new prediction event: "On the second trading day of SpaceX (ticker: SPCX) on the Nasdaq, will its opening price be greater than or equal to its first-day closing price (i.e., open higher on the second day)?"SpaceX officially submitted its S-1 prospectus on May 20 and is scheduled to list on the Nasdaq on June 12. This IPO breaks tradition by adopting a fixed price of $135 per share, aiming to raise $75 billion, with a valuation of $1.75 trillion. Market traders are divided: positions betting on a higher opening on the second day are mainly supported by Starlink's strong revenue performance and the potential of space-based orbital data centers and computing power from the merger with xAI (restructured as SpaceXAI) in February 2026. Meanwhile, cautious short positions are primarily concerned about its high trailing price-to-sales (P/S) ratio of 90x, the significant losses from its AI business, and the amplifying effect of Musk's dual-class share structure on stock price volatility in the early stages of listing.Odaily Seer Channel continues to monitor the prediction market, seeing the changes before the price is set.
SpaceX is progressing with its IPO and seeking a valuation of approximately $1.78 trillion. If realized, it would become the world's seventh-largest company by market cap. However, the mid-to-long-term business path justifying this valuation remains unclear.Furthermore, SpaceX's core narrative is shifting. In February of this year, Musk integrated SpaceX with xAI, making artificial intelligence a key component of the company's strategy. Compared to the original core vision of "making humanity a multi-planetary species," AI now occupies a more prominent position in the company's narrative. In the first quarter, xAI-related business reportedly accounted for over three-quarters of capital expenditures, while approximately 93% of the total addressable market mentioned in the IPO filing is also related to AI.Musk has long been adept at restructuring business narratives to align with market preferences, as seen in previous cases like integrating SolarCity into Tesla and merging Twitter with the xAI ecosystem. SpaceX's new narrative combines rocket launches with AI, envisioning the deployment of AI data centers in orbit to build future computing infrastructure. However, SpaceX launched approximately 2,200 tons of payload into orbit last year, while Musk has suggested that realizing the orbital data center vision would require an annual launch capacity of about 1 million tons. Although Starlink and the rocket business already hold industry-leading positions, genuine cash flow will ultimately be needed to validate this massive valuation hypothesis. (Financial Times)
Odaily ARK Invest stated that SpaceX's upcoming IPO could become a historic capital markets event, with the company's overall valuation potentially approaching the $2 trillion level. Brett Winton, Head of Portfolio and Research at ARK, said on CNBC that SpaceX's IPO is priced at approximately $135 per share, corresponding to a valuation of around $1.77 trillion, and plans to list on Nasdaq on June 12.Winton pointed out that SpaceX's core value comes not only from its rocket launch business but more so from its rapidly expanding satellite internet network, Starlink. This network currently has a bandwidth capacity of approximately 500 Tbps, generating an annual revenue of around $13 billion. It is expected to significantly reduce launch costs with the Starship rocket, accelerating satellite deployment and network expansion. He believes that as AI applications proliferate rapidly, the demand for global communication and computing infrastructure will further increase, positioning SpaceX as a key infrastructure provider in this trend. ARK also estimates that the AI foundation model industry could create between $15 trillion and $20 trillion in enterprise value by 2030.Currently, ARK holds approximately 11.4% of SpaceX's private shares through its venture capital strategy and considers it one of its core long-term holdings. The fund has risen about 15% so far this year, with gains exceeding 70% over the past 12 months. (CNBC)
BIT has pointed out that the market is repricing around SpaceX's potential largest-ever IPO, with a target valuation of approximately $1.75 trillion. However, expectations in the secondary market have already been revised upwards to around $2.3 trillion, corresponding to a premium of approximately 34% on the Pre-IPO contracts traded on Binance and Hyperliquid.The market pricing logic has shifted from a "rocket company" to an "AI + Global Connectivity + Space Infrastructure Platform." As SpaceX integrates into the xAI asset system, its total addressable market (TAM) has expanded to approximately $28.5 trillion. This includes an AI-related market of roughly $26.5 trillion, a global connectivity network of about $1.6 trillion, while traditional space business accounts for only $400 billion. The core business, Starlink, generated $11.4 billion in revenue in 2025, a 50% year-over-year increase, with an EBITDA margin of 63%. However, its ARPU has declined from $99 to $66, reflecting the rebalancing pressure between growth and profitability structure.In the long term, the core of the market's bet remains the expansion of the space economy. The global space economy is expected to grow from $630 billion in 2023 to $1.8 trillion by 2033, with the integration of satellite networks, orbital data, and AI computing infrastructure seen as the main growth driver. SpaceX's current valuation is already highly discounting future expectations. In the short term, attention must be paid to valuation and liquidity constraints. However, looking at the medium to long term, the "AI + Space + Communications Infrastructure" convergence narrative it represents could still become one of the core themes in the next phase of the tech capital market.