SpaceX entered the public markets on June 12, 2026, debuting on the Nasdaq under the ticker SPCX. The company priced its IPO at $135 a share; the stock climbed as high as about $176 in early trading, lifting SpaceX's market capitalization above $2 trillion and, by reports, close to $2.1 trillion—roughly a 19% first-day gain. The offering raised about $75 billion, making it the largest initial public offering in history by multiple measures. Based on the offering price alone, the initial valuation was estimated at $1.77 trillion to $1.8 trillion. Financially, SpaceX reported approximately $19 billion in revenue for the prior year and remains unprofitable. At the debut pricing levels, investors are effectively valuing the company at more than 100 times revenue despite the lack of net profitability. In parallel with its launch and satellite businesses, SpaceX has been expanding AI and cloud-service capabilities, including collaborations tied to Google's Gemini and Anthropic. Ahead of the IPO, prediction markets had broadly pointed to a $2 trillion debut-day valuation as the most likely scenario. Crypto-native forecasting platforms showed strong conviction that the shares would clear that mark during the first trading session. A separate detail in the IPO disclosures also drew attention from crypto investors: SpaceX holds about 18,712 BTC, valued near $1.45 billion at the time of filing. That Bitcoin position amounts to less than 0.1% of a $2 trillion market cap, but it still means institutional investors buying SPCX gain indirect Bitcoin exposure, even if only marginal. The company's valuation and growth outlook now hinge on several execution points: Starlink's ability to keep scaling, Starship reaching reliable operations, and AI/cloud initiatives converting into meaningful revenue. With Musk's large stake in a company now valued north of $2 trillion—alongside his holdings in Tesla and other ventures—speculation is also resurfacing over whether he could become the world's first trillionaire.

Coinbase said about $4.4 billion in USDC was transferred to the Coinbase Hyperliquid deployer, setting a new record for the largest USDC transfer.

Nvidia's Blackwell platform is posting a step-change in inference efficiency versus the prior Hopper generation, according to a new benchmark focused on agentic workloads. Results from AgentPerf indicate Blackwell systems can support 20 times more AI agents per megawatt than Hopper—meaning the electricity that previously powered one agent on Hopper-class hardware could now run roughly 20 on Blackwell. AgentPerf was introduced by Artificial Analysis as AAAgentPerf in March 2026. The benchmark is designed to reflect real-world agent performance, including concurrent users per accelerator and efficiency per rack. The 20x agents-per-megawatt result is consistent with other published efficiency claims. SemiAnalysis InferenceX reported in February 2026 that Blackwell's GB300 NVL72 configuration can deliver up to 50x higher throughput per megawatt compared with Hopper, alongside a 35x reduction in cost per token for complex workloads such as agentic reasoning. Several architectural shifts underpin the gain. Blackwell supports FP4 precision, a second-generation Transformer Engine, and updated NVLink designs intended to increase intra-system GPU communication speeds. Power draw per GPU is higher—about 1,200 to 1,400 watts for Blackwell versus roughly 700W for the H100—so the efficiency jump reflects substantially more work per watt, not lower per-chip consumption. Nvidia CEO Jensen Huang highlighted the trend in late 2025, pointing to inference and agentic AI as key drivers as Blackwell sales outpaced expectations. With data centers increasingly constrained by available power, a 20x improvement in agents per megawatt implies materially more deployment capacity without new power infrastructure, reshaping the unit economics for running AI agents. For investors, efficiency gains on the order of 20x to 50x in a single generation can expand the total addressable market by making previously uneconomic applications viable. The cited 35x reduction in cost per token improves the feasibility of scaled use cases such as personalized financial advisory tools, real-time supply chain optimization, and autonomous customer service. Some observers have attempted to link Nvidia's AI infrastructure leadership to AI-associated crypto tokens such as TAO, NEAR, ICP, and RNDR. No direct connection between those tokens and AgentPerf or Blackwell's performance claims has been established. Competition remains intense as AMD, Intel, and a growing set of custom-silicon startups target the inference market. Still, a 20x edge in agents per megawatt represents a substantial lead in a metric that data-center operators increasingly prioritize.

BlockBeats reported that SpaceX opened for trading on Nasdaq on June 13 and rallied in its first session, pushing its market capitalization above $2 trillion. The debut was widely seen as smoother than expected. Trading kicked off late Friday morning, with shares spending most of the day up 15% to 30% versus Thursday's offering price and showing relatively modest swings. By the close, SpaceX was changing hands around $161, up 19%, placing it as the sixth-largest U.S. company by market value. The final settlement price has not yet been confirmed. More than 500 million shares traded, translating to roughly $80 billion in turnover. Some market watchers had warned that a wave of new listings after a long IPO drought could pressure broader performance as Anthropic and OpenAI gear up for blockbuster public offerings. Instead, sentiment remained upbeat across both institutional investors and Musk's retail following. "SpaceX didn't just break records for the size of its fundraising—it left other major companies far behind. It's impressive that, with an initial valuation already nearing $2 trillion, it was able to add so much market value so quickly," said Dan Coatsworth, head of markets at AJ Bell.

ME News reported that as of June 13 (UTC+8), 24-hour trading volume reached $3.379 billion. Trading was concentrated in equities (40.54%) and indices (34.53%). Funding rates were positive across all underlying assets. CL crude oil posted an 8-hour funding rate of 0.7%, signaling comparatively higher costs to hold long positions. The five most-traded assets were SPCX, XYZ100, CL, SP500, and BRENTOIL. (Source: D Pro)

SpaceX began trading Friday on the Nasdaq under the ticker SPCX, surging out of the gate and lifting its market value above $2 trillion in what was described as the largest IPO on record. The rocket and satellite internet company behind Falcon, Starship and Starlink priced its IPO at $135 a share on Thursday. Trading opened near $150, then extended gains through the session. SPCX touched about $176 at the intraday peak before ending around $161, up roughly 19% on the day. Trading volume exceeded 480 million shares across global venues. At the high, SpaceX's market capitalization briefly surpassed $2.3 trillion. By the close, it ranked as the sixth-largest public company globally, according to the report. The offering raised $75 billion, eclipsing Saudi Aramco's 2019 record. The deal used a fixed-price structure, departing from the traditional bookbuilding process typically used for mega-cap listings. Retail investors were allocated an unusually large portion of the deal—about 20%—helping fuel heavy demand and standout volumes. Elon Musk rang the opening bell remotely, while President Gwynne Shotwell marked the listing at Nasdaq's Times Square venue. The debut further amplifies Musk's reach across markets. The report said his combined stakes in SpaceX, Tesla and xAI have pushed his net worth beyond $1 trillion, following a February 2026 SpaceX–xAI merger that paired launch capabilities with AI infrastructure ambitions. Supporters point to operating scale: SpaceX has delivered more than four-fifths of global orbital mass launched in recent years, powered by reusable Falcon rockets, a fast-iterating Starship program and the expanding Starlink constellation. Starlink has grown to millions of subscribers and is projected to generate tens of billions of dollars in annual revenue, adding high-margin recurring cash flow. Management has cited a $28.5 trillion total addressable market spanning launches, global connectivity and orbital data centers. Skeptics focus on valuation. SpaceX reported about $18.7 billion in 2025 revenue and a net loss of nearly $5 billion, reflecting heavy R&D investment in Starship and AI. That leaves the price-to-sales multiple above 100x, and analysts at Morningstar and CFRA have cautioned that the pricing looks stretched versus fundamentals. Bulls argue the market is again rewarding long-duration growth, drawing Amazon-style comparisons that emphasize optionality over near-term profitability. The next catalyst could arrive quickly. SpaceX is expected to enter the Nasdaq-100 under accelerated rules, which could trigger automatic purchases by index funds and ETFs. The report also noted that competing space and satellite stocks sold off sharply on rotation concerns.

Retail investors have spent most of the past five years acting as the market's most consistent source of buying, staying active through meme-stock volatility, Federal Reserve rate hikes, banking stress and other shocks. That pattern has now shifted in a way that's drawing Wall Street's attention: individuals have recorded three consecutive days of net selling in U.S. equities, a run last seen in 2020. Citadel Securities' Scott Rubner noted that retail net-selling days have occurred only 18 times since January 2020, making a three-day stretch statistically rare. Vanda Research, which monitors retail order flow, has previously highlighted isolated net-selling sessions, including Nov. 23, 2023, when retail investors posted $20.6 million in net selling. This time, the market is facing three straight days of outflows. The timing stands out. The shift is not occurring amid a market crash or liquidity crunch. The S&P 500 has been on an extended winning streak, and broader equity conditions have remained generally firm. The backdrop traces back to 2020, when pandemic-era stimulus, more time at home and widespread access to commission-free trading platforms such as Robinhood helped fuel a new wave of individual participation. Earlier in 2026, retail investors briefly turned into net sellers for the first time since late November 2025 during another S&P 500 winning streak, an early warning sign. The current three-day run looks less like a one-off and more like an emerging pattern. One notable detail: the selling appears concentrated in traditional equities. Retail behavior in cryptocurrencies has not shown a similar shift, and no specific crypto reporting has mirrored the retail-selling narrative seen in stocks, including coverage from outlets such as CoinDesk or The Block. With net-selling days so uncommon over the past five years, Rubner's data suggests markets may be entering less familiar territory. For three sessions in a row, the market's most dependable bid has gone quiet.

The U.S. government posted a $293 billion budget deficit in May, coming in well above estimates and marking a 32% increase from a year earlier. Interest expenses climbed to a record $133 billion, up 44% year over year. On an annualized basis, interest costs are running at about $1.6 trillion, roughly 30% of tax receipts, underscoring mounting pressure on federal finances.

BlackRock, which was close to losing one of the largest public pension assignments in the U.S., will get a renewed chance to keep it. New York City Comptroller Mark Levine said June 12 that the city will reopen bidding for about $42.3B in U.S. public equity index mandates across three major pension systems: NYCERS, TRS and BERS. The decision resets a process that had been moving toward ending BlackRock's contracts after city officials raised concerns about the firm's approach to climate and decarbonization. NYCERS, TRS and BERS sit within a broader city retirement complex overseeing nearly $300B in assets. From recommended termination to an open rebid In November 2025, then comptroller Brad Lander called for BlackRock's mandates to be rebid, saying the firm's decarbonization plans did not meet the pension systems' expectations. In that review, 46 of 49 public-market managers submitted decarbonization plans viewed as aligned with the city's standards. BlackRock was not among those 46. A follow-up assessment dated April 30 reaffirmed the conclusion and also identified Fidelity as misaligned with the climate expectations set by the pension systems. City guidelines emphasize science-based targets and stronger engagement policies. Levine, who has since taken over as comptroller, opted against an immediate termination and instead opened a broad rebidding process, allowing BlackRock to compete against other firms for the same mandates. NYC's climate policy backdrop The city's pension systems report a 37% reduction in financed emissions since 2019 and more than $15B deployed into climate-focused investments. Since 2023, New York City's five pension systems have pursued more aggressive net-zero implementation policies, including a commitment to fully divest from fossil fuel reserve owners and to exit about $3.8B of related holdings. What it signals to investors With 46 of 49 managers meeting the city's climate standards, NYC's bar appears demanding but attainable. The earlier recommendation to terminate BlackRock's mandates underscores that the firm's approach to decarbonization carried reputational and commercial risk even at large scale.