SpaceX stock surges after $85.7B IPO, draws big investors

SpaceX stock trades at $140 after a record $85.7B IPO. Major investors like Harvard and Norway’s fund hold large stakes. Q2 revenue soared 92%. Analysts are bullish, but a lockup expiration may cause volatility.

SpaceX has drawn substantial investment following its landmark $85.7 billion IPO on June 12. Shares are currently trading at $140, marking a 29% increase in August. Major institutional and billionaire investors, such as Harvard Management, Norway’s sovereign wealth fund, and several family offices, have disclosed significant stakes. Harvard holds a $2.2 billion position, its largest in the U.S., while global family offices collectively own about $3.8 billion, including $1.8 billion from the Hyatt heir’s office. Notable billionaire stakeholders include Peter Thiel, Antonio Gracias, and Gina Rinehart. SpaceX’s Q2 revenue surged 92% year-over-year to $7.8 billion. Analysts from Morgan Stanley and Mizuho remain bullish, setting price targets at $300 and $200, respectively. The company’s AI advancements, especially Grok 4.6, are seen as competitive with leading models, strengthening SpaceX’s AI infrastructure prospects. However, the upcoming lockup expiration on August 20 could introduce short-term volatility as 319 million shares become tradeable. Despite some concerns about overvaluation, institutional interest and momentum indicators remain strong.