SpaceX Adds Nearly $200bn in One-Day Market Gain
SpaceX surged alongside technology and AI stocks after softer inflation data helped lift US equities during the August 12 session.
US stocks gained on 12 August after new inflation figures showed consumer prices rose 3.4% year on year in July, down from 3.5% in June.
The Nasdaq Composite rose about 0.5%, while AI-linked companies recorded stronger gains. CoreWeave jumped more than 18% and IREN gained over 7%. Both companies previously operated in crypto mining before expanding into artificial intelligence infrastructure.
SpaceX also joined the rally, with its shares rising 11% to $148. The move pushed its market capitalisation to around $1.88 trillion, adding about $127 billion based on the share-price increase.
Matthew Sigel, head of digital assets research at VanEck, highlighted the scale of the gain on X.
“$SPCX has added a whole $NBIS + 2 $CRWVs + an $IREN in market cap today,” he wrote on 12 August.
At the time, CoreWeave had a market value of about $58.5 billion, meaning two CoreWeaves were worth roughly $117 billion. Nebius stood at around $62 billion, while IREN was valued at approximately $14 billion. Together, the companies were worth about $193 billion, roughly matching SpaceX’s one-day increase in market value.
The SpaceX rally comes two months after its 12 June initial public offering. The company reported second-quarter revenue of $7.81 billion, up 92% from a year earlier, while adjusted EBITDA increased 191% to $3.5 billion.
SpaceX also held 18,712 Bitcoin worth about $1.1 billion as of 30 June. The company did not sell any of its reported Bitcoin holdings during the period.
Could SpaceX’s enormous valuation make its future share-price movements increasingly influential across global markets?
Disclaimer: This article is for informational purposes only and is not investment advice. Share prices and market values are as of the time of writing and change intraday. Digital assets and equities are volatile and carry risk.
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