Amazon-backed X-Energy continues post-IPO rally

Nuclear energy company X-Energy continued to rise in premarket trading on Monday after rushing out of the gate on its Nasdaq debut.

X-Energy shares closed 27% above their IPO price on Friday, its first day as a publicly listed company. Shares have risen another ~16% before the bell on Monday.

The company raised $1 billion for its IPO, with high-profile backers including Amazon and Ken Griffin, the founder of the hedge fund Citadel. X-Energy had a market capitalization of $11.6 billion as of Friday’s close.

The company uses modular nuclear reactors to produce energy for industrial facilities and data centers, joining a list of energy startups including Oklo and Fermi looking to profit from the artificial intelligence boom’s massive energy demand.

X-Energy, which counts Dow, Inc. and Amazon among its clients, reported $109.3 million in revenue in 2025 and a $390 million net loss for the year.

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SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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