SpaceX shares briefly hit IPO price after earnings, AI spend and lockup surge
SpaceX shares rose briefly above the $135 IPO price on August 10, 2026, after the company posted its first quarterly earnings and ARK Invest disclosed a $15 million purchase of the stock in the United States. The earnings report revealed a $18. 4 billion capital outlay, more than 80% of which was directed toward artificial-intelligence infrastructure, and the company said the spending could be recouped within a year, according to CNBC. The news sent the stock down 7. 5% in after-hours trading and more than 10% in pre-market trading, with CBS noting an 8% decline despite strong revenue growth.
Analysts cited historical IPO trends, warning that large IPOs often underperform and advising investors to wait until mid-2027 (The Motley Fool). A pending lock-up expiry could double the publicly tradable shares, potentially adding selling pressure, according to CNN. The New York Times reported that the shares have fallen nearly 50% since the IPO after CEO Elon Musk outlined ambitious AI data-center launches and a trillion-dollar revenue target by 2030. Independent projected an opening drop of over 11% due to the AI spending surprise.
