SpaceX (SPCX) shares, which priced at $135 in the June 2026 IPO near a $1.77 trillion valuation and later peaked above $225, recently closed around $149–159 with a market capitalization near $2 trillion. Trader focus centers on Q2 results showing $7.8 billion revenue, up 92% year-over-year, driven by Starlink expansion, offset by net losses and $18.4 billion in capex tied largely to AI infrastructure and the Cursor acquisition. The successful late-September Starship Flight 14, which reached orbit and deployed 26 satellites, provides near-term momentum, while analyst price targets averaging $222–232 reflect expectations for scaled Starlink capacity and AI compute leasing. Key upcoming catalysts include potential lock-up expirations and the November 17 earnings release, with high multiples leaving room for volatility around revenue run-rate milestones.