SpaceX's $75B IPO lifts space economy stocks including Intuitive Machines

SpaceX's record $75 billion IPO is lifting the broader space economy, with lunar contractor Intuitive Machines among the beneficiaries.

SpaceX's $75 billion IPO — the largest in history — has drawn investor attention to the broader space economy, lifting shares of companies tied to lunar exploration as the market prices in a new era of commercial space investment.

"At private market valuations of hundreds of billions of dollars, the market is underwriting not only a promising software product, but a long-duration bet on AI becoming a core layer of the economy," Tom Shipp, head of equity research at LPL Financial, wrote last week, a framework investors are now applying to the space sector.

Intuitive Machines (Nasdaq: LUNR), a contractor for NASA's commercial Moon program, has emerged as a leading public beneficiary of the renewed interest. The company reported record revenue and holds a $1.1 billion contract backlog, according to the editorial commentary. SpaceX's IPO raised $75 billion — more than all U.S. IPOs over the prior two calendar years combined, per Renaissance Capital.

The SpaceX listing is driving interest in the entire space economy, potentially increasing capital flows into publicly traded space companies. LUNR's strong fundamentals — record revenue and a $1.1 billion backlog — coupled with the halo effect from SpaceX's debut could lead to upward revaluation of space-related equities.

The IPO has also drawn attention to the broader pipeline of space and AI listings. OpenAI and Anthropic have both filed confidential paperwork with the SEC, setting the stage for highly anticipated late-2026 debuts. Together, they could seek hundreds of billions of dollars in investor capital, creating a competing destination for growth-oriented funds.

SpaceX's stock has been volatile since its debut. After briefly pushing Elon Musk past the trillion-dollar net worth mark, shares have pulled back, falling 30 percent over the past three trading sessions. The stock still trades at roughly 100 times trailing revenue, according to market data.

Intuitive Machines Stands to Gain

Intuitive Machines has established itself as a key player in NASA's Artemis program, which aims to return humans to the Moon. The company's $1.1 billion backlog provides multiyear revenue visibility, while record revenue shows accelerating execution. As the SpaceX IPO draws new capital into the space sector, companies with existing government contracts and proven technology are likely to attract disproportionate interest.

Risks Remain for Space Stocks

Despite the optimism, risks persist. SpaceX faces insider lockup expirations that could flood the market with up to 44 percent of shares by early September, increasing the current float by roughly 900 percent, according to market analysis. Meanwhile, inflation reaccelerated to 4.2 percent in May — the highest reading in three years — pushing interest-rate expectations higher and compressing the present value of long-duration assets like space companies.

This article is for informational purposes only and does not constitute investment advice.