SpaceX Has Officially Joined the Nasdaq 100; The Stock’s Influence On Markets Is About To Grow
SpaceX officially joined the Nasdaq-100 on Tuesday, becoming one of the fastest companies ever added to the technology-heavy benchmark after its blockbuster initial public offering less than a month ago.
The addition is expected to drive significant institutional demand for aerospace and artificial intelligence company, as investment funds that track the benchmark index begin purchasing shares.
The move comes after Nasdaq changed its rules in May to allow certain large newly public companies to qualify for “fast entry” into the Nasdaq-100, eliminating what had traditionally been a lengthy waiting period before IPOs became eligible for inclusion. The rule change was designed to allow major new listings to enter the index sooner, giving investors quicker exposure through index-tracking funds.
The change means that millions of Americans are likely to become SpaceX investors without actively buying the stock. Many workplace retirement plans, including 401(k) accounts, hold mutual funds and exchange-traded funds that mirror major indexes such as the Nasdaq-100. As those funds rebalance their portfolios, they are expected to purchase SpaceX shares automatically.
After debuting on June 12 at $150 per share, SpaceX stock surged roughly 50% during its first three trading sessions as investor enthusiasm surrounding Musk’s latest public venture fueled demand. The rally, however, proved short-lived. Within days, the shares surrendered nearly all of those gains amid profit-taking and broader market volatility.
On Tuesday, the stock fell nearly 6% in early trading, slipping to about $151 per share, almost exactly where it began trading after its IPO. Despite the pullback, analysts say index inclusion could provide additional long-term support as passive investment funds accumulate the shares.
The listing briefly pushed Musk’s personal fortune above the $1 trillion mark, making him the first person ever to reach trillionaire status. Tuesday’s decline in SpaceX shares reduced his estimated net worth to approximately $973 billion, according to Forbes. Even after the drop, Musk remains by far the world’s richest person. Forbes estimates that the second-wealthiest individual, Google co-founder Larry Page, has a net worth of about $303 billion.
Beyond its impact on investors, the public offering provides SpaceX with access to fresh capital as it expands both its space and artificial intelligence businesses. The Texas-based company is seeking to raise as much as $75 billion through its IPO, giving it additional resources to fund ambitious projects that require enormous upfront investments.
While SpaceX remains best known for launching rockets and operating spacecraft, its business has expanded well beyond traditional aerospace. The company operates Starlink, the satellite internet network that now consists of thousands of satellites orbiting Earth and serves millions of customers around the world. Starlink has become one of SpaceX’s fastest-growing businesses and accounted for nearly one-quarter of the company’s revenue last year.
SpaceX also strengthened its position in artificial intelligence earlier this year by merging with xAI, Musk’s AI startup behind the Grok chatbot. The merger combines SpaceX’s computing infrastructure, satellite communications network and engineering expertise with xAI’s efforts to compete against leading AI developers such as OpenAI and Anthropic.
Financial filings show the company continues to grow rapidly despite the heavy costs associated with its expansion. SpaceX generated $18.7 billion in revenue during 2025, an increase of 33% compared with the previous year. Much of that growth was fueled by Starlink’s expanding subscriber base and continued demand for commercial launch services.
However, profitability remains elusive. The company reported a net loss of $4.9 billion last year as it continued investing heavily in next-generation rockets, satellite deployments and AI infrastructure.
