Edison Investment Research·2026-06-24·via All Articles on Seeking Alpha
Summary
Having filed in May 2026, SpaceX made its Nasdaq debut and closed its first day of trading on 12 June 2026 above a $2tn market capitalisation.
The engine of that valuation is Starlink, which generated $11.4bn of revenue in 2025 (up 48% y-o-y and c 61% of group revenue).
For European governments, depending on a single US provider for critical communications has become a strategic risk.
The EU’s flagship answer is IRIS², a €10.6bn sovereign multi-orbit constellation (60% EU-funded, with services from 2030) awarded to the SpaceRISE consortium led by SES and including Eutelsat.
Walter Cicchetti/iStock Editorial via Getty Images
Why does the SpaceX listing matter?
Most market events are noise. The SpaceX (SPCX) listing is not. Having filed in May 2026, SpaceX made its Nasdaq debut and closed its first day of trading