SpaceX raised $85.675 billion in its record IPO and parked most of it in money-market funds and government securities, bringing its total cash position to nearly $100 billion. Second-quarter revenue hit $7.814 billion, up 92% year over year, while adjusted EBITDA climbed to $3.538 billion, beating analyst estimates. AI infrastructure absorbed 86% of quarterly capital expenditure at $15.828 billion, producing $2.561 billion in AI revenue from computing agreements and subscriptions. SpaceX’s Bitcoin holdings remained flat at 18,712 BTC despite the massive liquidity influx, while SPCX shares fell to $114, down 15% from the $135 IPO price. An August 6 unlock of approximately $105 billion in shares and short interest at 34% of public float are expected to drive heightened volatility.
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