SpaceX’s market capitalization heading into late October 2026 will be shaped primarily by execution on its Starlink connectivity segment, which generated roughly 61% of 2025 revenue, and the expanding AI compute backlog from contracts with Anthropic, Google, and others now valued above $80 billion through 2029. Following its June IPO at a $1.77 trillion valuation, shares have traded between roughly $148 and $152 recently after peaking near $2.8 trillion amid heavy post-listing volatility and successive lock-up releases. Traders will monitor quarterly revenue trends, any new hosting deals targeting the company’s $100 billion ARR goal, upcoming October share unlocks, and broader tech-sector sensitivity to interest rates and risk appetite for clues on whether the stock sustains momentum above $2 trillion or settles lower.