SpaceX's First 100 Days Are in the Books. Here's the Report Card.

SpaceX (SPCX) is trading near its $150 IPO price after its first 100 days as a public company, following an initial post-IPO surge and subsequent 50% decline. The launch and satellite operator accelerated revenue growth to 92% in Q2, driven by AI compute rental agreements with Anthropic and Google (GOOG). Segment adjusted EBITDA nearly tripled during the quarter.

The company now carries a $2.1 trillion valuation, appearing expensive relative to Meta (META), according to the source analysis. SpaceX remains unprofitable under GAAP accounting standards despite its strong EBITDA performance. Investor sentiment has stabilized as the company navigated lockup expirations without renewed selling pressure.

The AI compute rental business represents a new revenue stream beyond SpaceX's traditional launch services, positioning the company to capture demand from large language model developers. The Anthropic and Google deals underscore growing enterprise appetite for specialized computing infrastructure.