SpaceX to Join Nasdaq-100 on July 7, Sparking Billions in Passive Fund Buying

SpaceX went public on June 12 2026, raising about $75 billion at an IPO price of $135 per share and a market value near $1.8 trillion, the largest U.S. listing ever. The company will be added to the Nasdaq‑100 index on July 7, becoming the first beneficiary of the exchange’s new “fast‑entry” rule that allows large IPOs to qualify after just 15 trading days.

Analysts expect the inclusion to generate forced buying by index‑tracking funds such as the Invesco QQQ Trust, driving short‑term demand and adding roughly $4.3‑5.4 billion of passive inflows, according to JPMorgan and Bloomberg estimates. Because SpaceX’s free‑float is only about 4 % of its shares, Nasdaq applies a 3‑times multiplier, giving the company a weight of around 0.6‑0.7 % in the index.

The move follows rapid additions to other benchmarks, including the Russell 1000 and MSCI World indices. While some fund managers see the forced buying as supportive, others warn the stock is overvalued after posting a $4.9 billion net loss last year.

Separately, SpaceX’s new AI‑compute business is securing large contracts—Anthropic, Google and Reflection AI together are projected to bring about $27.8 billion of annual revenue—while the company also announced an all‑stock acquisition of AI‑coding startup Cursor valued at $60 billion.