Standard & Poor's reiterated that SpaceX is unable to be included in the U.S. benchmark stock index ahead of schedule under current rules.

Standard & Poor's Global announced that it will not change the inclusion criteria for its major indexes, dealing a blow to Elon Musk's SpaceX company as it effectively rules out the possibility of the largest IPO in history quickly entering the benchmark S&P 500 index. Musk has been rewriting SpaceX's IPO strategy on multiple fronts, including plans to give retail investors a larger role in the allocation, pushing for early inclusion in indexes, and establishing governance structures to maintain strong founder control over the company. The company plans to raise $75 billion, with a target valuation of $1.75 trillion, which would place it among the top ten listed companies in the US by market value, despite its publicly tradable shares accounting for only a small fraction. However, Standard & Poor's stated that "financial viability, operating longevity, and ESG requirements should not be exempted based solely on market value." According to one of the rules unchanged by Standard & Poor's, in order for a company to be included in the S&P 500 index, it must achieve profitability in the most recent quarter as well as in the cumulative performance of the last four quarters, based on generally accepted accounting principles. Despite SpaceX's revenue growth of 33% to $18.67 billion, it still recorded a net loss of $4.94 billion in 2025. Nasdaq has made adjustments that will make it easier for SpaceX, Anthropic, and other newly listed mega-cap companies to join its Nasdaq 100 index. Once SpaceX is included in this index, Nasdaq 100 index funds will be required to purchase a large amount of publicly tradable SpaceX shares.