SpaceX Shares Sink to $110.85, Erasing Implied Value of AI Business
Updated
Updated · Bloomberg · Jul 23
SpaceX Shares Sink to $110.85, Erasing Implied Value of AI Business
3 articles · Updated · Bloomberg · Jul 23
Summary
$110.85 marked SpaceX’s low earlier this week, leaving the stock 18% below its IPO price and, by Morgan Stanley’s reading, near a level that assigns no value to its AI business.
The drop follows a volatile debut after SpaceX’s record $86 billion mid-June offering: shares jumped nearly 50% in their first three trading sessions before reversing sharply.
Morgan Stanley’s view reframes the selloff from a simple post-IPO slump into a valuation signal, suggesting investors are now crediting little or nothing to the company’s artificial-intelligence operations.
The slide also extends broader caution around richly valued new listings, a theme already shadowing other anticipated AI-related IPOs such as Anthropic and OpenAI.
With most AI projects failing to deliver returns, are investors simply betting on hype with the next big IPO?
Is the SEC's plan to ease IPO rules a boon for innovation or a trap for everyday investors?
SpaceX’s $1 Trillion IPO Shock: How a Turbulent Debut Reshaped AI Valuations, Market Risks, and the Next Wave of Mega-IPOs
Overview
SpaceX made a highly anticipated public debut on June 12, 2026, with shares trading under the SPCX ticker on Nasdaq. Elon Musk rang the opening bell from Starbase, while celebrations took place in New York. The IPO sparked a frenzy of investor interest, quickly driving the stock to record highs. This surge was fueled by a unique market structure, as less than 5% of shares were available for trading, creating scarcity and boosting demand. However, the excitement was short-lived, as concerns over high valuations and upcoming share lockup expirations soon led to a sharp decline in SpaceX’s stock price.