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SpaceX hits $2T valuation with $23B sales but still posts losses; Starlink growth and AI contracts key.

Market News
21 Sep 2026
Seeking Alpha
View Source
Neutral
SpaceX hits $2T valuation with $23B sales but still posts losses; Starlink growth and AI contracts key.

SpaceX, three months post-IPO, trades around $153 with a market cap near $2 trillion and trailing sales of $23 billion but continues to report GAAP losses. Growth is driven by Starlink, which reported $4.3 billion in Q2 connectivity revenue and 12 million subscribers, with segment operating income up 79% despite a 22% drop in ARPU. AI hosting contracts contribute to a premium valuation, though risks remain from high customer churn due to short-term contracts and aggressive revenue assumptions. The analyst maintains a small stake, monitoring subscriber growth, ARPU stabilization, and Starship V3 launch execution before increasing investment.

Following SpaceX's recent IPO and ongoing growth in its Starlink segment, the stock trades steadily on Pluang at USD 153.36 as of Sep 21, 2026 19:49 WIB, showing a modest 0.36% increase over one day. The company's market capitalization stands at $2.01 trillion, reflecting strong investor interest despite reported GAAP losses. Investors on Pluang typically hold SPCX shares for about 36 days, indicating active trading around this high-profile industrial stock.

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