SpaceX IPO Raises $75B at $1.7T Valuation — Shares Surge 19%, Then Drop 16%

SpaceX's public debut instantly makes it one of the most valuable companies on the market, creating direct exposure for investors to the commercial space, defense, and AI infrastructure themes in a single ticker. The violent post-IPO swing — up 19%, then down 16% — signals extreme price discovery risk typical of mega-cap debuts. The orbital AI data center angle ties SpaceX's long-term narrative directly to hyperscaler infrastructure spending, while the defense satellite contract adds a near-term revenue anchor.

Next quarterly earnings report from SpaceX (date TBD post-IPO). Next Starship test flight (no fixed date announced). Next U.S. defense budget authorization hearing for satellite program funding visibility.