SpaceX Jumps in First Trades | Balance of Power 6/12/2026

Summary

SpaceX made its historic public debut with a record $75 billion IPO, opening sharply higher and reaching a valuation above $2 trillion, making Elon Musk the world's first trillionaire. The debut sparks debate between the company's AI-driven growth narrative and skepticism from investors like Jim Chanos, who warns of extreme valuations and a broader AI capex bubble. Concurrently, progress toward a US-Iran peace deal lifts equities and pressures oil prices.

• SpaceX IPO priced at $135, opened at $150, and surged over 20% to a $2 trillion valuation on Nasdaq.
• Elon Musk becomes the world's first trillionaire on paper following the debut.
• The IPO raised $75 billion, the largest ever, with strong institutional and retail demand.
• SpaceX's valuation is driven by orbital AI data centers and compute-leasing deals with Anthropic and Google.
• Jim Chanos calls the valuation excessive, comparing it to dot-com era bubble dynamics and warning of a capex-fueled earnings risk.
• A US-Iran peace deal text is reportedly agreed, raising hopes to reopen the Strait of Hormuz and sending crude oil sharply lower.
• Former astronaut Leroy Chiao voices strong confidence in SpaceX's Starship development and long-term dominance.
• Retail trading frenzy caused record traffic on Robinhood, reflecting intense interest in the IPO.