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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.

Copyright © 2026, ABC Audio. All rights reserved.

Senate passes bill to fund government in bid to avert shutdown ahead of midterm elections

By CNN
(CNN) — The Senate passed a bill on Saturday that would extend government funding to December 11 in a bid to avert a shutdown ahead of the upcoming midterm elections.The chamber moved to tackle the funding deadline over a month in advance of the September 30 deadline. It’s not yet clear though if lawmakers will manage to stave off a funding fight next month.The bill passed by the Senate would next have to be taken up by the House, where it’s fate is uncertain as that chamber has already passed an alternative measure.The Senate measure differs from a funding extension passed by the House in several ways, including a lack of funding for Immigration and Customs Enforcement and Customs and Border Protection, which have already been funded through the end of President Donald Trump’s term, and a temporary block on a proposed administration rule that critics warn would further politicize federal grants.Senate leaves for August recessThe Senate vote to pass the funding bill came in the early hours of Saturday morning, as senators attempted to wrap up a number of legislative items before departing Washington to return to their home states for the August recess.Ultimately, in addition to adopting the measure to extend government funding into December, the Senate also confirmed acting attorney general Todd Blanche as the permanent head of the Department of Justice, and, separately, rejected a voter ID measure.However, Senate Republicans chose to delay for now a vote on their budget resolution, which was meant to be a party-line package containing defense funding and parts of a controversial elections bill, after President Donald Trump called into a late meeting at the Capitol with several senators on Friday night to discuss their options, those senators said.Trump had demanded that the Senate pass the budget resolution before leaving town for their recess, and GOP Sen. Mike Lee had said he would object to any effort to speed up consideration and leave if the budget resolution did not pass. Both Trump and Lee have been pushing for the president’s elections package, known as the “SAVE America Act,” for months.However, Sen. Ron Johnson, who chairs the Senate budget committee, told reporters that during a meeting in Senate Majority Leader John Thune’s office on Friday night, the president called in and there was unanimous agreement that the GOP senators will go back to the drawing board for a “better” budget resolution, including more defense funding, that they can pursue when they return in September, rather than face a failed vote to advance a budget resolution this week.Republican leadership had also hoped to at least take a preliminary procedural vote on a bill focused on regulating name, image, and likeness deals in college sports, but senators were unable to reach a deal on the package.The-CNN-Wire™ & © 2026 Cable News Network, Inc., a Warner Bros. Discovery Company. All rights reserved.
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