SpaceX in Early July: A Journey That Has Just Begun

Boss, SpaceX (ticker: SPCX) has officially become a public company with a record-breaking IPO on June 12, 2026, and early July is an exciting time to follow its journey.

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🍃 The Numbers That Speak

SpaceX closed on June 29, 2026 at $164** per share, up 7.15% in a day, with market capitalization still firmly above **$2 trillion. The journey since the IPO itself has been very dynamic: the stock opened at $150, surged to $225, corrected to $147, and now is moving around $164.

This is an unprecedented journey for a space company.

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🌌 Behind the Scenes: Three Stories Running Together

This company is not just a rocket launcher, but three large businesses merged into one entity, each with its own narrative.

1. Starlink: The Continuously Growing Cash Machine — This division generated $11.4 billion in revenue in 2025 and became the only profitable business line for SpaceX. Starlink's customer base reached 10.3 million in 164 countries by the end of March 2026.
2. AI Division (xAI): Insane Capital Consumption — This unit recorded an operating loss of about $6.4 billion** and capital expenditure of **$7.7 billion in the first quarter of 2026 alone. However, revenue commitments from Google and Anthropic, such as a contract with Anthropic worth $1.25 billion per month until May 2029, become a big 'bet'.
3. Rocket Division: Undisputed Dominance — SpaceX controls 82% of the US commercial launch market and delivers more than 80% of the total weight of satellites and spacecraft to orbit globally.

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⚔️ Two Sides Facing Each Other

On one side, there is a strong belief that SpaceX is the perfect combination of AI infrastructure and space dominance. The ability to launch its own satellites and ambitious plans like orbital data centers are added values appreciated by the market.

However, on the other side, there are equally significant concerns. The current valuation is about 130 times revenue, while the company still recorded a net loss of $4.9 billion** in 2025. The company's debt reaching **$29.1 billion, including a $20 billion bridge loan that must be repaid by September 2027, also casts a shadow.

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🕯️ A Reflection from This Journey

Boss, SpaceX's journey has just begun, and it reminds us of Mbah Joyo's teachings. On one side, there is a big dream being built, and on the other, a reality that must be faced. Prices may go up and down, but value—whether from an innovation, a community, or a belief—never disappears.

Si Fulan — from zero, becomes a hero.#SKHynixTopsKOSPIByMarketCap #fulan