SpaceX is advancing its vertical integration strategy with the construction of an eight-mile natural gas pipeline, dubbed 'Starpipe,' to its Starbase facility in Texas, while its recently listed stock (SPCX) prepares to enter the Nasdaq 100 index next month.
According to county filings reviewed by Reuters, the pipeline project aims to replace the current reliance on tanker trucks to deliver liquid methane for Starship launches. Each launch consumes roughly 630,000 gallons of fuel, a logistical bottleneck that becomes unsustainable as SpaceX plans to scale from the 25 launches per year currently approved by the FAA to potentially hundreds or thousands. Construction is set to begin next month, with the pipeline expected to be operational by January 2026. The company also plans a liquefaction facility on-site to convert natural gas into liquid methane.
Separately, SpaceX's stock has experienced sharp volatility since its IPO on June 12. SPCX ended its first full week at $153.23, down 17.2% from its debut, pulling its market capitalization from over $2.5 trillion back toward $2 trillion. The stock is trading near its $135 IPO price. Despite this, Nasdaq confirmed that SPCX will be added to the Nasdaq 100 on July 7, a move expected to trigger an estimated $7.3 billion in passive fund buying. The inclusion underscores the company's massive valuation but comes amid concerns about its financials, including a negative net margin and a recent $25 billion bond sale that saw paper losses of around $305 million.
