The SpaceX IPO didn't just lift its own stock, it reframed the entire space economy, with public companies like Intuitive Machines seeing record revenue and a $1.1 billion backlog tied to NASA's Moon program.
businessSunday, June 28, 2026
SpaceX IPO lifts space economy, then cools
SpaceX's public listing sent a jolt through the space sector, lifting lunar infrastructure stocks and briefly making Elon Musk a trillionaire. But the stock has since fallen below its opening price, and skepticism is spreading to adjacent hype, like orbital data centers. Meanwhile, the rest of business today is about costs: Volkswagen may cut 100,000 jobs, tech firms blame AI chips for rising device prices, and Germany's coal phase-out looks shaky.
Space economy lift and letdown
SpaceX's IPO revalued the entire space sector, but the stock's post-IPO slide is already prompting second thoughts about space hype.
SpaceX's stock followed a classic boom-and-bust pattern: surged to $251, then fell to $149, below the opening price. Most day-one buyers are underwater, and Musk's trillionaire status evaporated.
SoftBank's CEO publicly questioned Elon Musk's orbital data center vision, arguing they won't cut costs fast enough for the AI race, adding to the skepticism around space-based infrastructure.
Costs squeeze across industries
From automakers to consumer electronics, companies are passing on higher costs, and blaming AI chips for the pinch.
Volkswagen may cut up to 100,000 jobs in a brutal reset that's spreading anxiety through German factory towns, where lifetime employment guarantees are eroding.
Apple, Microsoft's Xbox, and Nintendo are raising prices on older devices, blaming rising chip costs driven by AI data center demand, reversing the long trend of tech getting cheaper.
Germany, Europe's largest coal user, may reconsider its coal phase-out as rising natural gas prices threaten the transition, a reminder that energy economics can override climate pledges.
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