Market Update: SpaceX IPO and Oil Price Fluctuations
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 12 2026
0mins
Source: CNBC
- Market Sentiment Fluctuations: Stocks were mixed on Friday as investors weighed the possibility of a peace deal between the U.S. and Iran against the backdrop of the upcoming SpaceX IPO, with Trump warning Iran to 'get their act together', yet the market remains optimistic about a potential agreement.
- SpaceX IPO Focus: Priced at $135 per share, SpaceX's IPO is expected to open around $165, with Jim Cramer noting strong demand and suggesting that the market may absorb this massive deal better than anticipated, advising investors to wait for a trading history before buying.
- Intel Stock Surge: Intel shares rose 5% on Friday, adding to a 9% gain on Thursday following a double upgrade from Bank of America analysts, with Jim calling Intel 'the greatest story right now' in semiconductors and projecting a 63% upside potential.
- Quick Stock Recap: Other stocks mentioned at the end of the video included Williams Sonoma, AMD, Arm, and Lennar, with Jim Cramer's charitable trust holding INTC, LIN, and NVDA, providing trade alerts to subscribers before executing trades.
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Analyst Views on SPCX
Wall Street analysts forecast SPCX stock price to rise
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About SPCX
Space Exploration Technologies Corp. designs, manufactures, launches, and operates products and services built on technologies, including rockets and spacecraft. The Company's segments include Space, Connectivity, and artificial intelligence (AI). Its Space segment designs, manufactures, and launches reusable rockets to provide access to space. Its Connectivity segment operates broadband data and communications network powered by approximately 9,600 Starlink broadband and mobile satellites in Low-Earth orbit, delivering connectivity to consumer, enterprises, and government customers over 164 countries, territories, and other markets. In its AI segment, it operates a vertically integrated AI platform spanning its truth-seeking frontier model Grok, AI solutions for consumer and enterprise customers, X-its real-time information, entertainment, and free speech platform and AI computational infrastructure.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
SpaceX Secures Investment-Grade Credit Ratings
- Credit Rating Upgrade: Fitch, S&P Global, and Moody's assigned SpaceX investment-grade ratings of BBB+ and BBB, reflecting the company's strong leadership in commercial launches and solid access to capital markets.
- Market Reaction: Despite SpaceX's stock surging to $225 just six days post-IPO, valuing the company near $3 trillion, shares fell 4% on Thursday due to profit-taking, indicating market concerns over high valuations.
- Financial Outlook: Fitch expects SpaceX's EBITDA growth to remain within the management's leverage target of 2x-3x, supported by over $90 billion in liquidity and stable revenue from more than 12 million Starlink subscribers.
- Risk Factors: All agencies highlighted concentrated governance under Elon Musk, execution risks tied to Starship development, and the unprecedented scale of AI infrastructure buildout as potential pressures on the company's credit profile, although deeply negative free cash flow is viewed as elective growth investment rather than a structural weakness.
See More
SpaceX's Acquisition of Cursor Enhances AI Strategy
- Acquisition Overview: SpaceX's planned $60 billion all-stock acquisition of AI coding platform Cursor is described by Oppenheimer analyst Timothy Horan as highly beneficial for both parties, completing a key component of SpaceX's AI strategy.
- Market Potential: Cursor's AI coding platform boasts over 1 million daily users and is projected to reach $6 billion in annual recurring revenue by year-end, reflecting its significance in the rapidly growing AI market.
- Technological Integration Advantage: The acquisition combines Cursor's fast-growing software business with SpaceX's computing resources and xAI platform, enhancing the company's vertical integration and allowing for greater value capture across the technology stack.
- Future Outlook: Analysts emphasize the need to monitor how Cursor integrates with xAI's infrastructure and whether it can train competitive new AI models, as these factors will be crucial in validating SpaceX's broader AI investment thesis.
See More
Analysis of Ethereum's Upgrade Prospects
- Market Correction Impact: Ethereum (ETH) has declined over 40% this year, primarily due to inflation and interest rate hike fears leading investors to sell, reflecting weakened confidence in the cryptocurrency market that may affect future investment inflows.
- Technological Upgrade Progress: Ethereum is set to undergo the Glamsterdam upgrade in the second half of 2026, which is expected to further enhance network speed and security while reducing transaction fees, thereby increasing its appeal among developers and solidifying its market leadership.
- Historical Upgrade Review: Ethereum completed The Merge upgrade in 2022, successfully transitioning from a proof-of-work (PoW) to a proof-of-stake (PoS) model, reducing energy consumption by over 99% and attracting over 232,000 active developers, showcasing its robust ecosystem.
- Macroeconomic Environment Impact: Although future technological upgrades may enhance Ethereum's competitiveness, current economic conditions and investor concerns about interest rate hikes could suppress Ethereum's price rebound, leading to diminished confidence in smaller altcoins.
See More
Ethereum's Upcoming Upgrade: Should Investors Buy ETH Now?
- Market Volatility Impact: Ethereum (ETH) has declined over 40% this year primarily due to inflation, fears of interest rate hikes, and other macroeconomic pressures, prompting many investors to sell their Ether to invest in large IPOs like SpaceX.
- Upgrade History: Ethereum's last major upgrade, The Merge in 2022, transitioned it from a proof-of-work (PoW) to a proof-of-stake (PoS) blockchain, reducing energy consumption by over 99% and attracting more than 232,000 active developers.
- Future Upgrade Outlook: The Glamsterdam upgrade, expected in the second half of 2026, will further enhance Ethereum's speed and security while lowering transaction fees by enabling parallel processing of transaction blocks.
- Market Outlook Analysis: Although the upcoming upgrade will strengthen Ethereum's position as a developer-oriented blockchain, ETH's price is unlikely to rebound until the macroeconomic environment improves, necessitating cautious risk assessment by investors.
See More
Analyst Bullish on Meta and Amazon Investment Opportunities
- Meta Investment Opportunity: Analyst Mark Mahaney highlights that Meta's stock is currently at a three-year trough despite a 33.08% year-over-year revenue growth to $56.31 billion in Q1 2026, with EPS exceeding expectations, indicating a robust business foundation that could attract investors.
- Amazon AWS Growth: Amazon's AWS achieved a 28% growth in Q1 2026, reaching $37.59 billion, marking the fastest growth in 15 quarters with a 37.7% operating margin, suggesting strong performance in the AI sector that may draw more investment.
- Capital Expenditure Pressure: Mahaney notes that the anticipated $200 billion capital expenditure for both Meta and Amazon could compress near-term free cash flow, but if capital intensity peaks and revisions turn positive, it could provide new growth momentum for both companies.
- Market Reaction Potential: Should Meta adopt a strategy similar to SpaceX by renting out its computing capacity, it could quickly alter market perceptions of its stock, alleviating cash burn and potentially leading to a positive re-rating of its shares.
See More
SpaceX Achieves Record IPO, Valuation Reaches $2.8 Trillion
- Record IPO Performance: SpaceX completed the largest IPO in history last Friday, opening at around $150 per share, which implied a market cap of $2.1 trillion; following a 44% surge in share price, the company is now valued at $2.8 trillion, making it the fifth most valuable company globally.
- Significant Revenue Potential: The AI infrastructure agreements with Anthropic and Alphabet are projected to generate up to $26 billion in recurring revenue annually, with total deal values nearing $45 billion, significantly enhancing the company's revenue outlook and market valuation.
- Profitability Shift: Collaborations with Anthropic and Google allow SpaceX to leverage existing GPU clusters, reducing operational costs and positioning the company for a transition to consistent profitability while decreasing future capital needs and improving financial health.
- Valuation Rationalization: Despite SpaceX's $2.8 trillion market cap, the forward price-to-sales ratio could drop to 62 when accounting for the long-term benefits of new contracts, indicating that the market is beginning to recognize the company's evolution from a pure-play space operator to a diversified technology infrastructure leader.
See More
SpaceX Secures Investment-Grade Credit Ratings
- Credit Rating Upgrade: Fitch, S&P Global, and Moody's assigned SpaceX investment-grade ratings of BBB+ and BBB, reflecting the company's strong leadership in commercial launches and solid access to capital markets.
- Market Reaction: Despite SpaceX's stock surging to $225 just six days post-IPO, valuing the company near $3 trillion, shares fell 4% on Thursday due to profit-taking, indicating market concerns over high valuations.
- Financial Outlook: Fitch expects SpaceX's EBITDA growth to remain within the management's leverage target of 2x-3x, supported by over $90 billion in liquidity and stable revenue from more than 12 million Starlink subscribers.
- Risk Factors: All agencies highlighted concentrated governance under Elon Musk, execution risks tied to Starship development, and the unprecedented scale of AI infrastructure buildout as potential pressures on the company's credit profile, although deeply negative free cash flow is viewed as elective growth investment rather than a structural weakness.
See More
SpaceX's Acquisition of Cursor Enhances AI Strategy
- Acquisition Overview: SpaceX's planned $60 billion all-stock acquisition of AI coding platform Cursor is described by Oppenheimer analyst Timothy Horan as highly beneficial for both parties, completing a key component of SpaceX's AI strategy.
- Market Potential: Cursor's AI coding platform boasts over 1 million daily users and is projected to reach $6 billion in annual recurring revenue by year-end, reflecting its significance in the rapidly growing AI market.
- Technological Integration Advantage: The acquisition combines Cursor's fast-growing software business with SpaceX's computing resources and xAI platform, enhancing the company's vertical integration and allowing for greater value capture across the technology stack.
- Future Outlook: Analysts emphasize the need to monitor how Cursor integrates with xAI's infrastructure and whether it can train competitive new AI models, as these factors will be crucial in validating SpaceX's broader AI investment thesis.
See More
Analysis of Ethereum's Upgrade Prospects
- Market Correction Impact: Ethereum (ETH) has declined over 40% this year, primarily due to inflation and interest rate hike fears leading investors to sell, reflecting weakened confidence in the cryptocurrency market that may affect future investment inflows.
- Technological Upgrade Progress: Ethereum is set to undergo the Glamsterdam upgrade in the second half of 2026, which is expected to further enhance network speed and security while reducing transaction fees, thereby increasing its appeal among developers and solidifying its market leadership.
- Historical Upgrade Review: Ethereum completed The Merge upgrade in 2022, successfully transitioning from a proof-of-work (PoW) to a proof-of-stake (PoS) model, reducing energy consumption by over 99% and attracting over 232,000 active developers, showcasing its robust ecosystem.
- Macroeconomic Environment Impact: Although future technological upgrades may enhance Ethereum's competitiveness, current economic conditions and investor concerns about interest rate hikes could suppress Ethereum's price rebound, leading to diminished confidence in smaller altcoins.
See More
Ethereum's Upcoming Upgrade: Should Investors Buy ETH Now?
- Market Volatility Impact: Ethereum (ETH) has declined over 40% this year primarily due to inflation, fears of interest rate hikes, and other macroeconomic pressures, prompting many investors to sell their Ether to invest in large IPOs like SpaceX.
- Upgrade History: Ethereum's last major upgrade, The Merge in 2022, transitioned it from a proof-of-work (PoW) to a proof-of-stake (PoS) blockchain, reducing energy consumption by over 99% and attracting more than 232,000 active developers.
- Future Upgrade Outlook: The Glamsterdam upgrade, expected in the second half of 2026, will further enhance Ethereum's speed and security while lowering transaction fees by enabling parallel processing of transaction blocks.
- Market Outlook Analysis: Although the upcoming upgrade will strengthen Ethereum's position as a developer-oriented blockchain, ETH's price is unlikely to rebound until the macroeconomic environment improves, necessitating cautious risk assessment by investors.
See More
Analyst Bullish on Meta and Amazon Investment Opportunities
- Meta Investment Opportunity: Analyst Mark Mahaney highlights that Meta's stock is currently at a three-year trough despite a 33.08% year-over-year revenue growth to $56.31 billion in Q1 2026, with EPS exceeding expectations, indicating a robust business foundation that could attract investors.
- Amazon AWS Growth: Amazon's AWS achieved a 28% growth in Q1 2026, reaching $37.59 billion, marking the fastest growth in 15 quarters with a 37.7% operating margin, suggesting strong performance in the AI sector that may draw more investment.
- Capital Expenditure Pressure: Mahaney notes that the anticipated $200 billion capital expenditure for both Meta and Amazon could compress near-term free cash flow, but if capital intensity peaks and revisions turn positive, it could provide new growth momentum for both companies.
- Market Reaction Potential: Should Meta adopt a strategy similar to SpaceX by renting out its computing capacity, it could quickly alter market perceptions of its stock, alleviating cash burn and potentially leading to a positive re-rating of its shares.
See More
SpaceX Achieves Record IPO, Valuation Reaches $2.8 Trillion
- Record IPO Performance: SpaceX completed the largest IPO in history last Friday, opening at around $150 per share, which implied a market cap of $2.1 trillion; following a 44% surge in share price, the company is now valued at $2.8 trillion, making it the fifth most valuable company globally.
- Significant Revenue Potential: The AI infrastructure agreements with Anthropic and Alphabet are projected to generate up to $26 billion in recurring revenue annually, with total deal values nearing $45 billion, significantly enhancing the company's revenue outlook and market valuation.
- Profitability Shift: Collaborations with Anthropic and Google allow SpaceX to leverage existing GPU clusters, reducing operational costs and positioning the company for a transition to consistent profitability while decreasing future capital needs and improving financial health.
- Valuation Rationalization: Despite SpaceX's $2.8 trillion market cap, the forward price-to-sales ratio could drop to 62 when accounting for the long-term benefits of new contracts, indicating that the market is beginning to recognize the company's evolution from a pure-play space operator to a diversified technology infrastructure leader.
See More
