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SpaceX joins the Nasdaq 100, clearing way for potential investment influx. Here’s what to know

SpaceX founder and CEO Elon Musk speaks via video at the Nasdaq Marketsite in Times Square during the launch of the SpaceX initial public offering (IPO) on the Nasdaq on June 12, 2026, in New York City. (Spencer Platt/Getty Images)

(NEW YORK) — Elon Musk-led rocket and AI company SpaceX joined the Nasdaq 100 on Tuesday, clearing the way for a potential influx of investment as funds pegged to the major index were expected to add the firm.

SpaceX will all but certainly become a part of many individuals’ 401(k) accounts soon. Those accounts often hold index funds, which track indexes like the Nasdaq 100.

Until recently, newly listed companies were barred from major indexes until after an extended waiting period. But the Nasdaq issued a rule change in May permitting “fast entry” to the Nasdaq-100 for some major IPOs. Over the ensuing weeks, some other top exchanges also tweaked their rules.

Entry into the index marked the latest development for SpaceX after a roller coaster in the company’s shares following an initial public offering (IPO) last month. The stock price soared roughly 50% in the initial three days after the public listing on June 12, before shedding just about all of those gains within days.

SpaceX shares dropped nearly 6% in early trading on Tuesday, putting the price at about $151. The SpaceX IPO, the largest ever, opened trading last month at $150 per share.

The IPO made Musk the first trillionaire, vaulting the world’s richest person further ahead of other financial titans. After SpaceX shares tumbled on Tuesday, Musk’s net worth fell to $973 billion, according to Forbes. The second-wealthiest person alive, Google founder Larry Page, holds a net worth of $303 billion, Forbes said.

The IPO pulls in fresh funds for the Texas-based firm, which oversees Musk’s ambitions in the fast-growing but cost-intensive AI industry. The company aims to raise as much as $75 billion from its public listing.

SpaceX builds and operates spacecraft, including thousands of satellites deployed in support of its Starlink satellite internet service. In February, the company merged with xAI, a Musk-led AI company that offers a chatbot in competition with the likes of OpenAI’s ChatGPT and Anthropic’s Claude.

The company’s revenue jumped to $18.7 billion in 2025, soaring 33% compared to the previous year, a financial filing showed. Nearly a quarter of that revenue came from Starlink, which counted millions of subscribers. Still, SpaceX failed to turn a profit, registering a loss of $4.9 billion last year.

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Ex-Cambridge professor dies week after resigning amid plagiarism allegations

▶ Watch Video: Jason Arday, former Cambridge professor who faced plagiarism scandal, found dead Jason Arday, who was Cambridge's youngest Black professor, died in London on Friday, a week after he resigned from the university amid plagiarism allegations, his family said. He was 41 years old. "Jason was subjected to a campaign of sustained abuse for the more than three years since he accepted the role of Professor at Cambridge University by those who would leave no stone unturned in their quest to undermine him," his family said in a statement. "The campaign of misinformation was too much for Jason, who was a gentle man and who always wanted to see the best in everyone. We are in shock to have lost this amazing father, partner, brother, uncle and son." London's Metropolitan Police did not identify Arday, but said in a statement that officers responded to a report of a 41-year-old man found unresponsive inside a property at 3:12 p.m. local time Friday. Police said the man was pronounced dead at the scene and his next of kin have been notified.  His death is "unexpected, but is not believed to be suspicious," police said. The case is under investigation. U.K. Education Secretary Lucy Powell said in a social media post that she was "deeply shocked & saddened" to hear about Arday's death."My heartfelt condolences are with his friends and family at this very sad time," Powell said in the post. "I urge people to give them privacy through this incredibly difficult period & to remember there are real people with loved ones involved."Arday resigned from Cambridge Aug. 5 following allegations of plagiarism and fabrications in his biography, saying in a statement, "The relentless accusations, speculation and public commentary have taken a profound toll on me and on those I love." He said his resignation should not "be mistaken for an acceptance of the narratives that have surrounded me.""We are desperately saddened to hear this tragic news. Our heartfelt sympathies go to Jason Arday's family and friends at this incredibly difficult time," Vice-Chancellor Professor at Cambridge Deborah Prentice said in a statement. Arday joined the University of Cambridge in 2023 at age 37, becoming one of Britain's most high-profile academics after sharing an extraordinary account of his life. He said he was autistic and dyslexic, did not speak until age 11 and was unable to read or write until he was 18.Born and raised in south London, he went to college to earn a degree in education and physical education, and then went on to earn two master's degrees before qualifying as a teacher. He then earned his PhD at Liverpool John Moores University. "Not many teachers at school had any belief in me," he told CBS News in 2023. "Educational psychologists and behavioral therapists were … very robust in their assessment that I would struggle in later life and I would need assisted living."Allegations of plagiarism were raised last month by Nathan Cofnas, a philosopher of biology and former Cambridge researcher who has publicly criticized diversity, equity and inclusion policies. Cofnas previously wrote that in a meritocracy, "Blacks would disappear from almost all high-profile positions outside of sports and entertainment."Arday previously denied any intentional wrongdoing, saying errors in his academic work were inadvertent and arguing that much of the criticism against him was an ideologically and racially motivated campaign against him.Supporters of Arday also argued the scrutiny went far beyond legitimate academic criticism and said he became the target of an ideological campaign because of his work on race, inequality and diversity.Liverpool John Moores University previously investigated allegations relating to his doctoral thesis and said it found no evidence of academic misconduct, according to The Times of London. Articles by The Times of London and The Telegraph reported last month on possible embellishments in Arday's personal history, including claims that he raised millions for charity through endurance challenges, which he later amended. The Telegraph questioned his claim to have published a book, "Being Young, Black and Male: Challenging the Dominant Discourse," saying it could not find evidence it was ever published.Criticism mounted ahead of this week's release of Arday's memoir, "Great and Unfortunate Things," which chronicles his life from childhood through his appointment at Cambridge.In his resignation statement, Arday did not address the specific allegations against him, but said his resignation should not "be mistaken for an acceptance of the narratives that have surrounded me.""It is simply the decision of someone who has reached the limits of what any person should reasonably be expected to endure," he said. 
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