Skip to main content

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.

Copyright © 2026, ABC Audio. All rights reserved.

Former US archivists warn that Trump’s effort to ignore records law jeopardizes national security and government continuity

By CNN
(CNN) — Former leaders of the National Archives — which preserves and protects the nation’s most important documents — are urging a federal appeals court to reject the Trump administration’s effort to ignore the Presidential Records Act, a decades old law that requires presidents save all official records from their time in office.Six archivists, who served under both Republican and Democratic presidents, argue that the law is critical in maintaining “continuity of governance” and protecting national security.The archivists — a coalition covering every living person to have previously held the role before Marco Rubio’s brief appointment to the position at the beginning of Trump’s second term — filed an amicus brief Wednesday in support of a lawsuit from presidential scholars, historians and public transparency groups.The legal fight began after the Trump administration said it believed the president did not need to comply with decades-old record-keeping obligations set by Congress in the aftermath of the Watergate scandal. The law, which Trump’s Justice Department has claimed is unconstitutional, is intended to preserve documents so that future presidents, members of Congress, courts and the public can understand how an administration made critical decisions.“Preserving presidential records ensures that new leaders can have immediate and ongoing access to the data, strategy, and rationale behind past policy decisions,” the group said, noting that, in their experience, the most “frequent request for preserved presidential records comes from the incoming president’s national security advisors.”The archivists signed on to the brief are Trudy Huskamp Peterson, John W. Carlin, David S. Ferriero, Debra Steidel Wall, Colleen Shogan and William J. Bosanko — as well as Gary M. Stern, a former agency general counsel.The plea from the former archivists comes months after a federal judge in Washington said that White House staff must preserve their official records while the lawsuit plays out in court but declined to put any restrictions directly on the president, the vice president, the National Archives and archivist.In the May ruling, US District Judge John Bates concluded that the Presidential Records Act (PRA) was likely constitutional, rebuking the stance taken by the Justice Department earlier this year. The Justice Department has appealed the ruling to the US DC Circuit Court of Appeals. Oral arguments are slated for October 16.The PRA requires presidents and their staff to preserve White House records and turn those records over to the National Archives at the end of their administrations.It was instrumental in the chain of events that led to Trump’s prosecution for allegedly mishandling classified documents that he took from the White House at the end of his first term.The legal fight stems from a conclusion from Trump’s Office of Legal Counsel, a Justice Department office that gives advice to the executive branch, that the law was unconstitutional. The OLC memo was seen as an audacious move for a number of reasons, including for how it seemed to eschew Supreme Court precedent backing Congress’ power to regulate presidential record preservation. The guidance only addressed the preservation of email and text messages, rather than all electronic records, which the PRA covers.The American Historical Association and the left-leaning government transparency group American Oversight quickly filed a lawsuit, warning that presidential records they intend to use for their research “will be irretrievably lost” if the court didn’t intervene.The former archivists say the PRA “helps to bridge the gap between the outgoing and incoming administrations.”“Geopolitical tensions do not pause for an inauguration,” they wrote in the court filing. “Presidential records include the entire holdings of the National Security Council… such as sensitive intelligence assessments, treaty negotiations, and operational contingency plans. Ensuring that these files are preserved and seamlessly made available to new administration officials allows incoming national security advisors and cabinet officials to evaluate active threats, maintain diplomatic momentum, and make informed decisions during unexpected global crises.”The administration has rebuffed concerns, insisting that the “lion’s share” of presidential records are being preserved, because work being done by presidential staff on White House-issued phones is being kept.CNN’s Tierney Sneed contributed to this report.The-CNN-Wire™ & © 2026 Cable News Network, Inc., a Warner Bros. Discovery Company. All rights reserved.
Read Next Story

Related Stories

Latest News
Senador mexicano acusado de narcotráfico deja la bancada de Morena en medio de las presiones de EE.UU.
54 minutes ago

Senador mexicano acusado de narcotráfico deja la bancada de Morena en medio de las presiones de EE.UU.

Los consumidores redujeron el gasto en julio mientras persistían las presiones inflacionarias

Cnn L19jb21wb25lbnRzL2ltYWdlL2luc3RhbmNlcy9jbXRhOXd1dXgwMDAwM2I2cjd3cjU4ZWNk L19jb21wb25lbnRzL2FydGljbGUvaW5zdGFuY2VzL2NtdGE1cmN3OTAwMnoyOHAxNjM5bmhoY3g=

Ohio Rep. running for reelection comes face-to-face in court with the senator whose daughter he’s accused of abusing

Carlos Alcaraz está de regreso en el lugar que conoció el estrellato y busca defender su corona en el US Open

Un estudio sugiere que humanos modernos conservan ADN de un antiguo "linaje fantasma"