SpaceX is quietly renting computing power to the very companies trying to outcompete its own AI chatbot, and the landlord strategy is pulling in billions. The question is whether Google and Anthropic will keep paying rent or build their own…
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SpaceX (NASDAQ:SPCX | SPCX Price Prediction) runs two AI stories in opposite directions. Its Grok chatbot trails the leaders. A Momentic Marketing report published August 18, 2026, built on May 2026 Similarweb data, ranked Grok fifth of seven major assistants by worldwide web visits, behind ChatGPT, Gemini, Claude and DeepSeek, and found it lost worldwide share over the past quarter. SpaceX rents computing power to Grok’s rivals. Gwynne Shotwell said on the August 4 earnings call:
“We’re rapidly expanding our compute capacity to meet our own needs as Grok expands, as well as those for other leading companies such as Google and Anthropic.”
Shares traded at $164.47 this morning, down 1.87% on the day and up 11.17% over the past month.
What SpaceX Actually Sells in AI The AI unit bundles cloud compute, Grok development and the X platform. It brought in $2.56 billion in Q2, up 247% from a year earlier. AI Solutions & Infrastructure generated $2.194 billion, while advertising declined to $367 million. Starlink’s Connectivity unit led at $4.29 billion. Launch services brought in $962 million.
Cloud Services Agreements total $14.1 billion in signed sales, with the first phase contributing $1.6 billion of incremental AI infrastructure revenue in the quarter.
Landlords Collect Rent Whoever Wins A landlord collects rent regardless of which tenant wins. Elon Musk suggested Grok will occupy only a minority of SpaceX’s compute:
“I would expect maybe 10% of our compute to be used for grok training, something like that.”
Management claimed a less than one-year payback on new capital deployments for compute. The AI segment’s adjusted EBITDA turned positive for the first time at $1.1 billion.
SpaceX joins Oracle (NYSE:ORCL) and CoreWeave (NASDAQ:CRWV) as GPU landlords. Much of Oracle’s backlog is attributable to OpenAI. CoreWeave’s revenue has historically come mostly from Microsoft (NASDAQ:MSFT) and OpenAI, Hyperframe Research noted.
Capital Costs and Concentration Could Break the Model Q2 capex hit $18.37 billion, with $15.83 billion for AI computing power. Management said the next two quarters to be very similar to the current quarter from a CapEx level perspective. The AI unit posted a $1.3 billion operating loss, and the company lost $541 million overall.
The tenant list is concentrated. Alphabet (NASDAQ:GOOGL) runs its own data centers. If Google and Anthropic build sufficient capacity, they stop leasing. Musk said SpaceX expects a very small percentage of its chip supplier’s GPUs next year. The stock trades at a forward P/E of 200, leaving little room for disappointment.
Next Quarterly Report Will Test the Landlord Thesis Management signed an additional $6.7 billion of cloud services revenue over six months starting in October. The next quarterly report should push AI Solutions & Infrastructure revenue above $2.194 billion, Cloud Services Agreements above $14.1 billion, and capacity above 1.4 GW on track for over 2 gigawatts by year-end. If all three occur, the landlord thesis holds. If infrastructure revenue stalls while AI capex stays near $15.8 billion quarterly, it breaks.
Contact [email protected] for any questions or corrections.
SpaceX announced an agreement on Thursday to purchase a nationwide spectrum portfolio as it to pushes its Starlink service deeper into the U.S. telecommunications market. Shares of AT&T, Verizon and T-Mobile tumbled in extended trading.
The deal involves the acquisition of spectrum portfolio from Grain Management, which specializes in digital infrastructure, and is subject to approval by the Federal Communications Commission. SpaceX said in a statement that it's a "license portfolio of up to 14 megahertz of paired spectrum in the 800 MHz band."
"This prime low-band spectrum addresses one of the key remaining technical gaps that will pave the way for Starlink Mobile to become a major mobile carrier in the US," SpaceX said.
In a post on X, SpaceX CEO Elon Musk called it a "very big deal."
This is breaking news. Please refresh for updates.
SpaceX SPCX stock fell 2.5% Thursday as investors looked ahead to another major lockup expiration that could increase the supply of shares available for trading.
Up to 328.4 million shares are scheduled to become eligible for sale on October 9, giving existing shareholders the option to cash out.
The stock’s decline broadly tracked the wider market, with investors also monitoring elevated Treasury yields and oil prices.
The S&P 500 fell 0.4%, while the Nasdaq Composite declined 0.6%. The Dow Jones Industrial Average dropped 201 points, or 0.4%.
The October 9 release is the latest in a series of staggered SpaceX lockup expirations following the company’s June IPO.
Rather than using a single 180-day expiration, SpaceX structured its offering around multiple dates at which different groups of shareholders can become eligible to sell.
That structure has limited the amount of stock entering the market at any one time, but it has also created a recurring source of uncertainty for investors.
The upcoming release does not mean that all eligible shareholders will sell.
However, the prospect of additional supply can weigh on the stock as investors assess whether early shareholders will take profits following SpaceX’s gains since its August low.
The October 9 unlock also comes as investors assess whether SpaceX’s rapid expansion into artificial intelligence computing can justify its valuation.
Erste Group analyst Stephan Lingnau initiated coverage of SpaceX with a Hold rating but did not assign a price target.
Lingnau said SpaceX’s “high EV/EBIT multiple” already reflects strong expectations for its AI business.
He expects SpaceX to reach a $100 billion annualized revenue run rate by the end of 2026, with cloud agreements involving AI companies such as Anthropic and Alphabet driving a significant portion of the growth.
Lingnau expects AI to become SpaceX’s largest revenue contributor as early as this year.
He also expects the highly profitable Starlink business to offset losses from the company’s aerospace and AI operations.
The analyst said SpaceX’s valuation assumes its AI business will “reach breakeven in the near term,” followed by a “significant increase in the operating margin.”
Other analysts remain more optimistic.
Earlier this week, Morgan Stanley analyst Adam Jonas reiterated his Buy rating and $300 price target.
Jonas said SpaceX looks “cheap and getting cheaper” relative to its growth prospects.
He also said investor interest in the company remains relatively quiet but argued that its growth potential makes the stock attractive.
In his view, concerns surrounding Grok and Starlink Mobile are already reflected in the valuation.
Goldman Sachs analyst Eric Sheridan also raised his SpaceX price target to $230 from $220 while maintaining a Buy rating.
Sheridan said the higher target reflects greater confidence in SpaceX’s AI business.
He increased his forecasts for AI capacity and revenue and expects margins to improve as the business scales.
Separately, President Donald Trump disclosed an investment of $1 million to $5 million in SpaceX senior unsecured notes, according to a newly released financial disclosure.
The notes carry a 5.35% interest rate and mature in July 2031.
The disclosure showed that Trump made the SpaceX debt investment two days before signing a policy memorandum aimed at expanding US commercial space transportation.
Trump’s disclosure also showed more than 500 securities transactions during August, including an investment of as much as $25 million in Meta stock.
The SpaceX investment is in the company’s debt rather than its equity, meaning it does not directly increase his ownership stake in the publicly traded stock.
SpaceX is also facing uncertainty around Starlink’s planned expansion into India, a potentially significant market for the satellite internet business.
Elon Musk has accused influential Indian telecommunications interests of obstructing Starlink’s entry to protect their existing market positions.
Indian government officials have rejected those accusations and said the approval process treats competing providers fairly.
Starlink has secured an initial license, but additional security clearances and spectrum allocation are still required before commercial operations can begin.
Further delays could postpone revenue opportunities in a market with a large population of consumers lacking reliable broadband access.
A SpaceX capsule carrying four astronauts returned from space and splashed down off the coast of California, capping the crew's mission to the International Space Station. The crew, part of a mission called Crew-12, had been living and working on the ISS since February, after launching to space in the same SpaceX Dragon spacecraft that brought them home.
Elon Musk has questioned the influence of Indian billionaire Mukesh Ambani as SpaceX struggles to launch its Starlink satellite internet service in the country. Musk’s comments, which were posted on X, escalate a dispute over regulatory delays after the Indian government rejected his claims that powerful business interests were blocking its entry.
Musk accused on Wednesday unnamed “oligarchs” of blocking Starlink’s launch in India to maintain what he called their “monopolistic chokehold” on the country, without identifying them or providing evidence for his claim. He called the alleged blocking a “crime against the people of India” and argued that Starlink could bring affordable, high-speed internet to people who lack internet access.
Hours later, India’s Ministry of Communications pushed back, saying its regulatory framework for satellite communications is “fair and non-discriminatory.” The ministry said in a statement that Starlink and two other licensed satellite operators are all at “broadly the same regulatory stage.” It added that all three companies are undergoing security assessments that must be completed before they can seek spectrum, the radio frequencies that satellites use to send signals.
Musk went further on Thursday, questioning the influence of Reliance Industries chairperson Mukesh Ambani.
”Is Ambani the real boss of India?” he wrote on X, after claiming that Starlink had spent years complying with Indian regulations and questioning why it still lacked a license.
Starlink has spent more than five years trying to enter India, a market with more than a billion internet subscribers. But it has yet to begin commercial services despite securing key regulatory approvals and partnering with telecom giants Reliance Jio and Bharti Airtel last year. SpaceX has also set up a local team as it prepares for a launch, appointing former Payoneer executive Prabhakar Jayakumar to lead its India operations in December.
Musk’s comments came hours after Lauren Dreyer, Starlink’s vice president of business operations, appeared at India Mobile Congress, a telecom industry conference in New Delhi and reiterated the company’s commitment to the market.
“We stand ready to serve India,” Dreyer said, adding that Starlink wants to help realize Prime Minister Narendra Modi’s goal of achieving universal connectivity across the country.
Starlink said it already has more than 20 gateway sites (the ground stations that link its satellites to the internet) and hundreds of antennas on the ground in India, and has adapted its operations to meet the country’s regulatory, security, and data-sovereignty requirements. Moreover, SpaceX has positioned its satellite network as a complement to — rather than a replacement for — India’s terrestrial telecom networks.
SpaceX first attempted to launch Starlink in India in 2021. The company, however, had to refund preorders for its equipment in early 2022 after the Indian government called it out for “booking/rendering the satellite internet service” before getting the necessary licenses.
Starlink has also previously clashed with India’s largest telecom operators over how satellite spectrum should be allocated. Starlink pushed for spectrum to be assigned administratively, while Reliance Jio argued that it should be auctioned — a position that could have made Starlink’s entry more expensive. India ultimately sided with Starlink’s preferred approach, deciding to allocate satellite spectrum administratively rather than through an auction.
Jio and Airtel, India’s two biggest telcom operators, are also pursuing their own satellite internet services, even as they have agreed to distribute Starlink in India. Jio is working with satellite operator SES on satellite broadband, while Airtel is a major backer of Eutelsat OneWeb, another licensed satellite operator in India.
While the timing of Starlink’s India launch remains unclear, the company this week launched Starlink Mobile, which connects ordinary phones to satellites, in neighboring Bangladesh.
Starlink, India’s Ministry of Communications, Reliance Jio, and Bharti Airtel did not immediately respond to requests for comment.
Update: This article was originally published at 11:14 p.m. PDT and has since been updated to include Musk’s comments questioning Reliance Industries chairperson Mukesh Ambani’s influence in India.
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Jagmeet covers startups, tech policy-related updates, and all other major tech-centric developments from India for TechCrunch. He previously worked as a principal correspondent at NDTV.
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Amid the latest bullish alert for Space Exploration Technologies Corp. (NASDAQ: SPCX) stock, Wall Street analysts have signaled potential further upside for SpaceX over the next 12 months, as the company attempts to scale up its artificial intelligence (AI) infrastructure.
Over the past three days through October 8, 2026, four Wall Street analysts have issued their SpaceX stock price targets, as per data Finbold fetched from TipRanks.
SpaceX stock forecast. Source: TipRanks Earlier on Thursday, Stephan Lignau, an analyst at Erste Group, initiated a ‘Hold’ rating for SPCX stock. On Wednesday, Adam Jonas, a Wall Street expert at Morgan Stanley (NYSE: MS), reiterated a ‘Buy’ rating for SpaceX and set a 12-month price target of $300.
During the day, Charles Minervino, a Wall Street analyst at Susquehanna, reaffirmed a ‘Hold’ rating for SPCX. However, he raised the firm’s 12-month price target to $173 from $144.
On October 6, Daniel Ives, an analyst at Yorkville Ives, initiated a SpaceX stock ‘Buy’ rating and set his 12-month price target at $225.
According to Ives, SpaceX has not yet confirmed the rumored $40 billion debt financing to scale up its AI data centers with Nvidia Corp. (NASDAQ: NVDA) products. However, Ives said that such a move could strengthen the company’s other lines of operations.
“We view this as a smart strategic move for the SpaceX buildout because it fuels the flywheel between launch, Starlink, and AI: each business lowers the cost or expands the demand of the other two, and the AI segment is where the next leg of growth comes from as contracted cloud capacity converts into revenue,” Ives noted.
SpaceX stock price prediction At the time of reporting, 34 Wall Street analysts surveyed by TipRanks over the past three months had issued a moderate ‘Buy’ rating for SpaceX stock for the next 12 months.
SpaceX stock price prediction. Source: TipRanks Additionally, these sampled experts had set an average 12-month price target for SPCX at $215.72.
SPCX stock price today After hitting a major resistance level around $171.66, SPCX stock price has retracted to $165.81 at the time of reporting,
SPCX stock price today. Source: TradingView As a result, the company had a market capitalization of about $2.2 trillion.
Even though SPCX stock price has struggled to rally above $172 since its pot capitulation on June 22 , Wall Street analysts expect a rally to its all-time high (ATH) over the next 12 months.
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Elon Musk says powerful interests are blocking Starlink, highlighting the difficulty of turning India's huge connectivity market into actual revenue. Summary
Musk alleged that unnamed “oligarchs” are obstructing Starlink’s rollout in India.
Space Exploration Technologies Corp. (SPCX, Financials) has hit another snag in bringing Starlink to India. The aerospace and satellite communications business has been having challenges in bringing Starlink to India, and CEO Elon Musk said big local interests are in the way.
“Oligarchs are blocking Starlink to protect their market position,” Musk claimed in a post on X. He did not name the firms or offer proof to back the accusation.
SpaceX has struck deals with Reliance Industries-owned Jio and Bharti Airtel last year to help carry out Starlink, but dissatisfaction has mounted. The service is yet to be launched in India.
That wait is significant since India is a major potential market for Starlink, particularly in places where conventional internet infrastructure is still lacking. But it also puts SpaceX at odds with a very entrenched telecom business. With over 80% of the market, it's Jio & Airtel together.
‘Starlink already has around 11,000 satellites in orbit and covers more than 170 countries,' said SpaceX executive Lauren Dreyer.
The question for investors is whether Starlink can convert its growing satellite network into new markets quickly enough to support SpaceX's bigger development plans. India might be a huge potential, but the recent spat suggests that making satellites may be easier than navigating the local market.
Any tangible movement on regulatory certification and commercial launch of Starlink in India would be the next driver.
Disclosures I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours.
One of the stocks investors are most excited about right now is Space Exploration Technologies (SPCX -2.51%). The artificial intelligence (AI) and space stock has caught investors' imagination about what the future could hold. With $5,160, you can buy 30 shares.
SpaceX offers a combination of substantial near-term and long-term opportunities. In the near term, the company has become one of the premier ways to play the cloud computing market. By acting as a bridge provider, renting out compute capacity on a short-term basis, SpaceX is getting superior economic returns. While it takes Amazon two to three years to break even on its chip and network investments, SpaceX is getting a payback in one year.
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Expect this to be the company's biggest revenue growth driver during the next three years. It's already set to potentially more than double the graphics processing units (GPUs) used by its Colossus 2 AI chip cluster, and it recently agreed to rent out $1.1 billion a month in compute capacity to an unnamed customer. Meanwhile, Anthropic recently revealed that it has agreed to lease $1.25 billion a month in computing power from SpaceX over the next three years. In addition to AI infrastructure, SpaceX should see solid growth from both its satellite internet service, Starlink, and its recently acquired AI coding platform, Cursor.
A SpaceX investment is more about the growth it will see in the next three years, though. The company has some huge potential long-term opportunities associated with its space business. Chief among these are data centers in space, which would solve the big energy consumption issues related to AI infrastructure. It is also looking to create new industries, such as terrestrial cargo transport and asteroid mining. If SpaceX can transform Starship into a fully reusable rocket, it will drastically lower launch costs and make these projects much more economically viable.
Image source: The Motley Fool.
SpaceX is a unique stock that undoubtedly will trade at a premium due to the promise it holds. However, I think one of the best ways to value the stock in the near to medium term is to use past price-to-sales (P/S) multiples of Tesla when it was still in its early stages as a public company. A couple of years after Tesla went public, in late 2011, it was trading at a P/S of about 12.
The current analyst average revenue forecast for SpaceX is that it will generate $293.9 billion in revenue in 2029, and at the end of last quarter, it had roughly 13.2 billion shares outstanding. That could prove low, and the highest analyst estimate for that year is about $465 billion. Place a P/S multiple of 12 on the stock based on the average estimate, and it would trade at about $267, or more than 50% higher than today. At the high end of the estimates, it would trade at about $423.
However, let's assume that in three years, investors start looking a couple more years out toward 2031 revenue estimates, given the company's huge expected revenue growth. Place an 8 times forward P/S multiple on the $829.1 billion 2031 revenue forecasts, and the stock would be worth $502 in 2029. Meanwhile, at the high end of 2031 estimates (more than $1.1 trillion in revenue), it would trade near $675.
Taken altogether, that values the stock at a wide range between $267 and $675 in the next three years. At the low end, a $5,160 investment would be worth about $8,000, while at the high end it would be worth $20,250. If we take the midpoint, the stock would trade at about $470, good for about a 275% gain, and a $5,000 investment would be worth around $14,000.
The next few years for SpaceX are going to be all about revenue growth and execution, as well as what valuation multiple the stock can command. That said, SpaceX has the potential to be a huge performer over the next three years.
Puff Wealth Management LLC acquired a new stake in SpaceX (NASDAQ:SPCX – Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 10,693 shares of the company’s stock, valued at approximately $1,613,000. SpaceX accounts for 1.5% of Puff Wealth Management LLC’s investment portfolio, making the stock its 21st largest position.
Several other institutional investors have also recently added to or reduced their stakes in SPCX. SC US Ttgp LTD. acquired a new stake in SpaceX in the 2nd quarter worth about $20,933,621,000. Darsana Capital Partners LP purchased a new stake in SpaceX in the 2nd quarter valued at about $17,335,783,000. K5 Global Advisor LLC acquired a new position in shares of SpaceX during the 2nd quarter valued at about $6,587,531,000. State Street Corp purchased a new position in shares of SpaceX during the 2nd quarter worth about $1,858,329,000. Finally, Dragoneer Investment Group LLC purchased a new position in shares of SpaceX during the 2nd quarter worth about $1,366,880,000.
Key Stories Impacting SpaceX Here are the key news stories impacting SpaceX this week:
Positive Sentiment: SpaceX is reportedly in talks to raise approximately $40 billion to purchase Nvidia AI chips and expand its terrestrial computing business. The proposed financing could include roughly $10 billion of bank loans and $30 billion of investment-grade bonds, with Apollo Global Management and major banks involved. If the company successfully monetizes its planned AI capacity, the investment could create a significant new revenue stream. Apollo, banks in talks to finance SpaceX’s $40 billion Nvidia GPU purchase Positive Sentiment: The FCC approved SpaceX’s plan to deploy up to 15,000 additional Starlink satellites for direct-to-device connectivity and waived a ground-carrier leasing requirement. The decision may accelerate Starlink’s mobile coverage and commercial partnerships. SpaceX wins FCC approval for 15,000 Starlink satellites Positive Sentiment: Regulatory proposals to auction additional spectrum for satellite-to-phone services, combined with efforts to streamline rocket licensing, could support Starlink growth and increase SpaceX’s launch cadence. FCC to vote on auctioning prime spectrum Neutral Sentiment: Susquehanna raised its SpaceX price target to $173 but maintained a neutral rating, citing strong growth while signaling limited near-term upside at the current valuation. Susquehanna raises price target on SPCX Negative Sentiment: The proposed AI purchase would add debt roughly comparable to SpaceX’s annual revenue, raising concerns about interest costs, execution and whether AI-compute cash flow will arrive quickly enough to support the borrowing. This financing risk was the primary reason shares weakened. SpaceX reportedly is looking to raise debt to buy Nvidia chips Negative Sentiment: Investors are also monitoring elevated valuation, rising Treasury yields and potential selling ahead of a reported share unlock. ARK Invest’s sale of approximately $9.4 million of SpaceX shares added to the caution. Cathie Wood sold $9.4 million in SpaceX stock Wall Street Analyst Weigh In SPCX has been the subject of a number of recent analyst reports. Guggenheim began coverage on shares of SpaceX in a report on Friday, August 7th. They issued a “buy” rating for the company. Barclays raised shares of SpaceX from an “underweight” rating to an “overweight” rating in a research note on Monday, June 22nd. William Blair reiterated an “outperform” rating on shares of SpaceX in a report on Friday, September 11th. Mizuho initiated coverage on shares of SpaceX in a research note on Tuesday, July 7th. They set an “outperform” rating and a $200.00 price objective for the company. Finally, Pivotal Research assumed coverage on SpaceX in a report on Tuesday, September 8th. They set a “buy” rating and a $220.00 price objective for the company. Three investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, eight have given a Hold rating and six have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $218.76. Get Our Latest Stock Analysis on SpaceX
Insider Buying and Selling at SpaceX In related news, COO Gwynne Shotwell sold 342,170 shares of the company’s stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $153.57, for a total transaction of $52,547,046.90. Following the completion of the sale, the chief operating officer directly owned 2,472,035 shares of the company’s stock, valued at approximately $379,630,414.95. This represents a 12.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
SpaceX Stock Performance NASDAQ SPCX opened at $167.60 on Thursday. The stock has a market capitalization of $2.21 trillion and a price-to-earnings ratio of -1,862.22. The company has a debt-to-equity ratio of 0.29, a current ratio of 5.12 and a quick ratio of 4.99. SpaceX has a one year low of $104.83 and a one year high of $225.64. The firm has a 50 day simple moving average of $142.98.
SpaceX (NASDAQ:SPCX – Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.17. The business had revenue of $7.81 billion for the quarter. The firm’s quarterly revenue was up 91.9% compared to the same quarter last year. Sell-side analysts forecast that SpaceX will post 0.09 EPS for the current fiscal year.
SpaceX Profile (Free Report)
Space Exploration Technologies Corp. (SpaceX) is a privately held aerospace company founded in 2002 by Elon Musk. The company develops and operates launch vehicles, spacecraft and satellite systems designed to reduce the cost of access to space and support commercial, government and scientific missions.
SpaceX’s primary products and services include the Falcon 9 and Falcon Heavy launch vehicles, the Dragon spacecraft and the Starlink satellite internet network. The company also is developing Starship, a fully reusable launch and spacecraft system intended for missions to Earth orbit, the Moon and Mars.
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Love him or hate him, Elon Musk is one of the most successful corporate executives in recent memory. And that's part of why his latest public company, Space Exploration Technologies (SPCX -2.51%), was able to hit the market at an eye-popping valuation of $1.77 trillion, based mostly on investor expectations for its future performance. But will the stock keep rising from here, or does it need more time to cool off?
Let's dig deeper into the pros and cons of SpaceX to see if it can live up to these lofty expectations and decide if it is a good buy in October.
Image source: Getty Images.
The company has several key moats Elon Musk is famously not a fan of "economic moats" -- a term popularized by Warren Buffett that refers to a company's advantages that make it difficult for rivals to compete. Instead, Musk prefers to focus on the pace of innovation, which he believes is a more sustainable way to fight off rivals. It remains to be seen which perspective will win in the long run, but SpaceX is lucky to enjoy a little bit of both.
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On the moat side, the company boasts substantial vertical integration. As a launch operator that also runs its own hugely profitable satellite business, SpaceX can speed up the deployment of its constellations while reducing launch costs. These advantages are magnified by the fact that the company manufactures much of its own hardware in-house.
SpaceX is also leading in its pace of innovation. Last month, the company launched its Starship rocket into orbit, an important milestone on its path to full commercial operation. Starship is the largest and most powerful rocket ever created, and despite engine issues, it deployed 26 Starlink satellites, demonstrating the economies of scale that SpaceX can unlock through the sheer size of its launch vehicles.
Is AI the next big thing for SpaceX? SpaceX is more than just a launch and satellite company. And over the long term, it aims to leverage its space business to tackle what could potentially be an even larger opportunity in artificial intelligence (AI) infrastructure. The goal is to bring data center computing capacity to space where it can benefit from virtually limitless energy, superior cooling, and laser connectivity.
While the idea initially looked like science fiction, SpaceX seems to be seriously trying to make it work. The company has recently begun launching Google's AI Tensor Processing Units (TPUs) into space. And it is scaling up its own "space chip" business through its "gigasat" factory in Bastrop, Texas, designed to produce 1 gigawatt (GW) of space-based AI compute capacity annually when it is completed in late 2027.
Over the long term, Musk believes he can scale orbital compute manufacturing to 100 GW per year. And if all this works as expected, it could give SpaceX an incredibly deep and complex moat in the AI infrastructure business.
On the surface, SpaceX looks like a fantastic company. And its extremely ambitious goals are already translating to meaningful operational results, with second-quarter revenue jumping 92% year over year to $7.8 billion. The company also has a clear path to profitability, after operating losses shrank from $1.94 billion to just $143 million.
On the other hand, the stock remains wildly expensive. And with a forward price-to-earnings (P/E) multiple of 200, there is plenty of room for downside if the AI hype cycle slows down or goes into reverse.
In October, taking a small experimental position in SpaceX probably won't hurt. But it might make sense to wait for more information before considering a large position in the stock -- especially if you see the current AI boom as unsustainable and primed for a slowdown.
SpaceX founder Elon Musk has accused vested interests of blocking the launch of his company's satellite internet service, Starlink, to protect their hold over consumers, calling it "a crime against the people of India"
The country's telecom and internet service market is dominated by billionaire Mukesh Ambani's Jio and Sunil Mittal's Airtel, with both companies together holding over 80% market share.
"We are being blocked by certain oligarchs in order to maintain their monopolistic chokehold on the Indian people," Musk said Wednesday stateside in a post on X, without naming his rivals. "You can guess who they are," he said.
In a second post, Musk said Starlink in India would "enable high-speed, affordable internet connectivity for those who cannot afford current prices." At present, Reliance Industries-owned Jio is the country's largest telecom operator and has been widely credited for slashing high-speed mobile data costs in the country since the company's launch a decade ago.
In June, Jio Platforms announced plans to roll out low-orbit satellite communications in the country. Akash Ambani, the son of Mukesh, told shareholders that the company is partnering with leading global constellation providers to lease satellite capacity as it looks for a quick rollout of satellite connectivity.
SpaceX last year had announced deals with Jio and India's second-largest telecom service provider, Bharti Airtel, to roll out Starlink internet services across India. There seems to have been little progress on that front, with Starlink yet to launch its service in the country.
CNBC has reached out to Airtel and Reliance Industries for comments.
There are 11,000 Starlink satellites currently in orbit that provide service to people in over 170 countries, Lauren Dreyer, SpaceX's Vice President of Starlink business operations, said while speaking at India Mobile Congress on Wednesday.
Starlink works with government and private companies to close the digital divide by providing internet access to people in remote places, she said, adding that it has been "working for years" in India to do the same, and mentioned the company's memorandum of understanding with Airtel and Reliance Jio.
Elon Musk's satellite internet services company is also facing pushback from regulators in India over security concerns, which the company has denied. In June, Bloomberg reported that regulators in New Delhi had frozen approvals for Starlink over fears that its terminals could be used despite the service not being licensed.
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Elon Musk's SpaceX was handed a win by the FCC. Sebastian Gollnow/picture alliance via Getty Images Elon Musk's SpaceX just scored a regulatory win that could give Starlink more power to compete with wireless giants Verizon, AT&T, and T-Mobile.
The Federal Communications Commission officially granted SpaceX's request to deploy and operate 15,000 Starlink satellites to provide direct-to-device connectivity.
Additionally, the FCC waived a rule that requires a leasing arrangement with one or more terrestrial wireless carriers, allowing SpaceX to use its own spectrum for the service.
"With this action, SpaceX's planned deployments will reshape spectrum-based connectivity by improving competition, allowing more consumers more choices in more places to further the Commission's goal to 'connect everyone, everywhere to modern communications services,'" the FCC said in its order released Monday.
Still, SpaceX faces skepticism from the carriers it hopes to take on.
"We've seen no zero discernible impact on our broadband growth from any LEO, low earth orbit satellite provider, including Starlink," Verizon CEO Dan Schulman said at a Goldman Sachs conference last month.
Schulman added that he does not view satellite as a "viable competitor in the medium and even longer term."
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Natalie Musumeci You're currently following this author! Click to unsubscribe from email alerts.
Natalie is a senior reporter on Business Insider's Business News team covering the AI and data center boom.She was previously on BI's Legal Affairs team, where she handled major cases coming out of state and federal court, as well as bankruptcy. Her coverage often focused on stories at the intersection of law, business, politics, and technology. Natalie has covered Donald Trump’s criminal and civil cases, the wave of lawsuits against the second Trump administration, the indictment and criminal trial of Sean “Diddy” Combs, the shooting death of UnitedHealthcare CEO Brian Thompson, and the legal battles facing Elon Musk and his companies. Natalie came to Business Insider in June 2021 as a breaking news reporter, focusing on the most interesting angles on the day's trending news. Natalie largely drove BI’s coverage around the fatal “Rust” shooting involving Alec Baldwin and the disappearance and murder of Gabby Petito.Prior to joining BI, Natalie worked for the New York Post, the New York Daily News, and The Brooklyn Paper. She has an extensive background covering crime and courts. During her more than 12-year journalism career, she did a stint covering the police beat out of the New York Police Department's headquarters. Natalie, a Brooklyn native, graduated from Brooklyn College in 2012 with a degree in journalism.
Space Exploration Technologies (SPCX -3.15%) was one of the hottest stocks to own during the brief period right after it went public in June. In its first few days on the market, it surged from its first-day opening price of $150 per share to just over $225 per share before coming crashing back down to earth, and entering an extended slide that took it below $105. Then, it gradually rose back to around that opening trading price of $150 again, and remained around that level for a while, with a bit of a climb in recent days that took it to about $174 as of Tuesday morning. But what happened in the past is irrelevant; investors want to know where SpaceX is heading.
Let's take a look at the trajectory of SpaceX as a business to get an indication of what a $1,000 investment in it made today could be worth in a few years.
Image source: The Motley Fool.
Space won't be what lifts the stock in the near term SpaceX divides its business into three primary segments: space, AI, and connectivity. Space is exactly what it sounds like: a space exploration business that develops rockets and uses them to launch payloads into space. While this is what SpaceX is known for, it's not the biggest part right now. During Q2, the space segment generated $962 million in revenue, behind connectivity's $4.3 billion and AI's $2.6 billion. The reality is that while the rocket launch part of the business may be the segment that leads the stock higher over the next two decades, it doesn't have the demand that the others have right now.
Instead, connectivity, which is primarily its Starlink satellite broadband service, is the main driver of the company. It's the only profitable segment, and with massive demand for Starlink's service, this growth should keep pushing SpaceX's revenues higher over the next few years.
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However, I'm most excited for the AI segment: xAI, which makes the Grok family of models. This segment saw explosive 213% growth in Q2, and that may be just the beginning. Demand for AI platforms is huge, and if Grok can win a strong following for its models, then it could create a strong and rapidly growing recurring-revenue business. But is that enough to make SpaceX a viable investment?
The reality is that there is a lot of anticipated future growth already baked into SpaceX's stock price today. Its market cap on Tuesday was around $2.25 trillion. Wall Street analysts estimate SpaceX will generate about $47 billion in revenue this year, meaning the stock trades for a very expensive 48 times sales. SpaceX is still not profitable, so metrics that value it relative to sales are the best tools investors have. If over time its valuation moderates to 15 times sales (a far more reasonable price tag) and the company simultaneously grows its revenue at a 40% compound annual rate through 2030, that would give it a market cap of $2.7 trillion. That's only about a 20% upside in the next four years, turning a $1,000 investment into $1,200. There are far better investments out there than that, and it just goes to show how much expected growth is already baked into SpaceX's stock.
As a result, I think investors should look for other investments; if SpaceX grows in line with those projections, it may underperform the market.
Louie DiPalma, industrials research analyst at William Blair, joins CNBC's 'Squawk on the Street' to discuss developments with SpaceX, his expectations for the company, and more.
SpaceX SPCX shares look set to end a three-day winning streak Wednesday, falling around 1.6% in early trading as a broader market sell-off weighed on equities.
At the time of writing, SpaceX was trading at $169.05, down around 1.6% from its previous close.
All three major US stock indexes were also in the red early Wednesday as rising Treasury yields intensified pressure across markets.
The decline came after a strong run for the stock. SpaceX shares rose 7.35% on Friday and gained another 7.63% on Monday.
The stock advanced about 2% in early trading Tuesday before ending the session 0.49% higher.
SpaceX shares slipped Wednesday as investors faced another sharp sell-off in the bond market.
The 10-year Treasury yield climbed to a 24-year high, while the 30-year yield also remained near multi-decade highs.
The benchmark 10-year Treasury yield rose to 5.36%, while the 30-year Treasury yield climbed around 7 basis points to 5.73%.
Higher long-term yields can weigh on risk assets as investors reassess borrowing costs and valuations.
The decline also followed three consecutive sessions of gains, leaving room for a modest correction after the stock's recent advance.
SpaceX's plans to raise new debt may have added another factor for investors to consider.
The space and artificial intelligence company is looking to raise about $40 billion in new debt, with the proceeds intended to finance purchases of Nvidia chips for its data centers, as per the Financial Times.
The proposed financing package would include about $10 billion in bank loans and $30 billion of investment-grade debt, led by Apollo Global Management.
The transaction is expected to close in 2027.
The planned borrowing would come after a substantial increase in SpaceX's existing debt load.
According to its latest quarterly filing, the company had $38.4 billion of debt and $1.1 billion in finance-lease liabilities as of June 30.
SpaceX also held roughly $100 billion in cash and marketable securities at the time.
The combination of a sharp rise in SpaceX shares over the previous three sessions, renewed pressure from the bond market and plans for a sizable new debt package came together Wednesday to halt the upward movement.
After an incredible stock market debut in June, which took the stock as high as $225, SpaceX spent the next few months below the $150 mark.
That barrier was broken last Friday thanks to multiple operational successes.
Last week, SpaceX completed a full orbital test of Starship and deployed all 26 Starlink V3 satellites even though an engine outage during ascent threatened to derail plans.
The company also launched four astronauts into the International Space Station in less than eight hours and helped Google deploy its Project Suncatcher in orbit.
The bullish sentiment was further boosted by Morgan Stanley commentary on Monday.
Analyst Adam Jonas reiterated an "Overweight" rating and maintained a $300 price target, citing future potential of the company.
Helping the sentiment further, Goldman Sachs raised the stock's 12-month price target to $230 from $220 while maintaining a "Buy" rating.
Expansion of its artificial intelligence business and its growing defense business also acted as catalysts.
Space Exploration Technologies (SPCX -2.29%) was the hottest initial public offering (IPO) of 2026, going public at about a $2 trillion valuation, making it the largest IPO of all time. However, I sat on the sidelines. SpaceX is an impressive company and will likely grow significantly over the next few years to make a great investment. But I was staying patient. I'm waiting for a different IPO, and I think it could also reach a $2 trillion valuation.
The IPO I'm waiting for? It's none other than Anthropic's. Anthropic is expected to go public the week of Nov. 6, and I think it could be a great one to own from the start, and it may turn out to be a better investment than SpaceX.
Image source: Getty Images.
Anthropic is growing rapidly Part of what made SpaceX such an attractive investment was how rapidly it was growing. Immediately after going public, SpaceX reported second-quarter results, where it informed investors of its 92% growth rate, with particular strength coming from its connectivity and AI divisions. That showed investors that SpaceX was a top stock in the market, but Anthropic could be even better.
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Although its IPO documentation isn't publicly available yet, Reuters obtained a copy, and it had several notable features. Its 2025 revenue totaled $4.6 billion, increasing at a 12-fold pace over 2024's figure. For 2026, they estimate an annual run rate of $65 billion. That's monster growth that may not slow down anytime soon, as AI is being adopted rapidly. For reference, Wall Street analysts expect SpaceX to generate $44.7 billion in revenue this year, so Anthropic could be growing faster and larger than SpaceX already.
Furthermore, Anthropic's Claude is widely regarded as the leading model among AI labs. That's a big deal, and if it can keep its status at the top, it will provide huge growth down the road as it gets integrated into several applications as well as being used as a stand-alone option.
Most investors would easily sign up to own a stock like this, but it comes with a price tag. Anthropic estimates it will spend $518 billion on cloud computing costs, internal computing, and other infrastructure in the next few years. That's a huge chunk of change, and it's one of the reasons why Anthropic is going public.
There isn't enough capital in the private realm to continue funding Anthropic's growth, so it needs to go public to tap into a much larger investment pool. This is the right move for Anthropic, but it won't come without risks for investors. I think the risks will be worth the reward, so I may buy shares when they go public. However, Anthropic has a lot of work to do before it turns profitable, which could be a significant hurdle to overcome in the meantime. Investors will know more as Anthropic's cautious IPO documents get released, but until then, you'll have to stay patient and prepare.
As Space Exploration Technologies Corp. (NASDAQ: SPCX) reportedly targets a $40 billion debt financing to scale up its Artificial Intelligence (AI) compute, SpaceX stock opened on October 7, 2026, with panic selling despite calls for a strong uptrend.
After closing Tuesday trading at approximately $171.92, SPCX traded at about $168.79 during Wednesday’s pre-market session. As a result, SpaceX stock had dropped by $3.13 per share, or roughly 1.82%.
SPCX price performance. Source: TradingView SpaceX stock hit a supply level over the past two days after a perceived renewed bull run, up nearly 15% since October 2. This resistance level was also observed in late June and early July 2026, which resulted in its capitulation over the next months towards an all-time low of around $104.81.
SpaceX solicits $40 billion to scale up its AI data infrastructure Earlier in the day, SpaceX was reported to be seeking $40 billion to fund an expansive acquisition of Nvidia Corp. (NASDAQ: NVDA) AI semiconductors.
The proposed debt facility, which is said to comprise roughly $10 billion in bank loans alongside $30 billion in investment-grade bonds, is expected to be led by Apollo Global Management.
Consequently, SpaceX stock fell as the market reacted to the financial risks and interest burden of a $40 billion debt-financed capital expenditure aimed at boosting long-term AI compute capabilities and revenue.
SPCX price prediction Wall Street analysts, led by Eric Sheridan at Goldman Sachs Group Inc. (NYSE: GS), are bullish on SPCX, as Finbold explained.
As the company addresses the wide difference between its market capitalization of $2.3 trillion and its last year’s revenue of less than $20 billion,33 analysts expect a SpaceX price to rally to a new all-time high (ATH) over the next 12 months.
Featured image via Shutterstock
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Společnost SpaceX Elona Muska jedná s bankami a investory o financování až ve výši 40 miliard dolarů, které by měly podpořit masivní rozšiřování její infrastruktury pro umělou inteligenci. Prostředky mají sloužit především k nákupu čipů Nvidia pro datová centra, čímž se firma zařazuje mezi technologické giganty investující desítky miliard dolarů do AI.
Vesmírná společnost SpaceX nejbohatšího člověka světa Elona Muska jedná s bankami a investory o půjčkách až 40 miliard dolarů (zhruba 872 miliard Kč) na nákup čipů od americké společnosti Nvidia. Informovala o tom agentura Bloomberg s odvoláním na informované zdroje.
SpaceX plánuje získat přibližně deset miliard dolarů v bankovních úvěrech a dalších 30 miliard dolarů prostřednictvím půjček od investorů. Na financování se podle zdrojů Bloombergu podílí investiční společnost Pacific Investment Management (Pimco), zatímco podle dřívějších informací listu Financial Times transakci vede Apollo Global Management. Uzavření dohody se očekává v roce 2027.
Peníze mají financovat rozvoj infrastruktury pro umělou inteligenci (AI). Firmy z technologického sektoru a vývojáři modelů AI v současnosti půjčují stovky miliard dolarů na budování a pronájem rozsáhlých datových center vybavených čipy pro provoz systémů AI. Rostoucí poptávka zdražuje pozemky, čipy a zařízení pro výrobu elektřiny, připomněl Bloomberg.
Musk minulý měsíc uvedl, že výpočetní centrum Colossus 2 jeho firmy xAI v Memphisu může do konce roku více než zdvojnásobit počet čipů Nvidia. Centrum má nyní 110.000 čipů GB200 a 440.000 GB300, přičemž další dodávky mají počet dále zvýšit. Apollo již dříve poskytlo xAI financování sedmi miliard dolarů na přístup k čipům Nvidia.
Společnost SpaceX zabývající se vesmírnými raketami či AI vstoupila 12. června na burzu po rekordní primární nabídce akcií (IPO). Ta jí vynesla 85,7 miliardy dolarů. SpaceX před vstupem na burzu uvedla, že v roce 2025 vykázala ztrátu 4,9 miliardy dolarů. Ztrátová divize zaměřená na AI vynaložila 12,7 miliardy dolarů na kapitálové investice. Začátkem letošního roku se firma SpaceX spojila s Muskovým start-upem xAI zaměřeným na AI. Hlavním zdrojem tržeb SpaceX loni byla satelitní služba Starlink.
For most of its history, Space Exploration Technologies (SPCX +0.48%) was synonymous with rockets. That description is starting to look outdated. Following its initial public offering (IPO) in June, SpaceX gives investors exposure to several markets at once: commercial space launches, government contracts, Starlink, artificial intelligence (AI) infrastructure, and perhaps even space-based computing.
With SpaceX expected to report its next quarterly earnings in early November, investors have a decision to make: Is October a good time to buy SpaceX stock, or has excitement surrounding the company gotten ahead of itself?
Image source: The Motley Fool.
AI is becoming a meaningful contributor for SpaceX SpaceX's expansion into AI infrastructure might be the most underappreciated part of the story. Around the time of its IPO, the company signed compute agreements with Anthropic and Google. Since its public debut, SpaceX has expanded its AI customer list.
Reflection AI is spending roughly $150 million per month to rent a cluster of Nvidia GB300 chips at SpaceX's Colossus 2 data center. The deal value could be worth up to $6.3 billion over the entire life of the contract. During SpaceX's Q2 earnings call, management disclosed the company signed a six-month cloud services agreement worth $6.7 billion and noted that capacity will ramp throughout October. Most recently, SpaceX CFO Bret Johnsen shared with investors another hosting agreement worth approximately $1.11 billion per month, or $13.3 billion annually.
Taken together, SpaceX is forecasting its combined businesses could reach a $100 billion annualized revenue run rate by December. This is important because this growth underscores how the company is diversifying beyond its roots in launch services. SpaceX is proving it can build AI infrastructure at hyperscale speed, sell compute capacity to some of the world's fastest-growing technology companies, operate a high-margin connectivity provider in Starlink, and potentially use its own rockets to launch computing infrastructure into orbit.
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A trifecta of launch milestones The last several days were a good showcase of SpaceX's other competitive advantage: launch cadence. On Sept. 28, Starship reached orbit for the first time and successfully deployed 26 Starlink V3 satellites. Although the mission ended earlier than originally planned following an engine issue, successfully putting an operational payload into orbit represents an unprecedented step toward making Starship commercially useful.
A trifecta of launch sequences subsequently occurred on Oct. 1. SpaceX launched Crew-13 to the International Space Station (ISS) for NASA, further validating Falcon 9 and Dragon as capable human-spaceflight infrastructure.
A few hours later, the company carried 130 payloads into orbit as part of the Transporter-18 mission. Of note, one was Google's prototype satellite for Project Suncatcher, an experiment testing whether its custom silicon, called Tensor Processing Units (TPUs), could support AI computing in space. This mission is particularly interesting given Google's existing relationship with SpaceX on terrestrial AI compute.
Finally, SpaceX's Falcon Heavy was part of a classified launch, called NROL-97. Participating in a mission for the National Reconnaissance Office mission expands SpaceX's role beyond commercial deployments into national security launches.
Should you buy SpaceX stock before earnings? I'll admit that SpaceX's business looks stronger now than it did a few months ago. But that doesn't automatically make SpaceX stock a screaming buy in October. The company is already valued at roughly $2 trillion, meaning investors aren't exactly discovering a new growth story. Moreover, SpaceX still carries hefty losses as it invests aggressively in AI infrastructure and Starship.
With earnings just a few weeks away, SpaceX really needs to demonstrate that its compute contracts are translating into revenue and improving economics -- not merely generating buzzy headlines. With this in mind, I wouldn't view October as a month to chase SpaceX's momentum simply because Starship reached orbit or several launches went well.
For long-term investors, the bigger thesis remains compelling. SpaceX increasingly sits at the intersection of AI, satellite internet, government infrastructure, and commercial spaceflight. Investors who want exposure to the company are best off using dollar-cost averaging --building a position gradually at different price points over time rather than making earnings day an all-or-nothing bet.
SpaceX's most recent Starship launch carried its next-generation Starlink satellites into orbit. Brandon Bell/Getty Images SpaceX is calling out rival satellite launchers after a series of near-miss collisions with its Starlink network.
In a blog post published on Tuesday, Elon Musk's rocket company warned that operators who don't share their satellites' trajectories are playing a dangerous game of chicken in Earth's orbit.
SpaceX, which has around 11,000 Starlink satellites in orbit, said that the satellite internet network has had potential near-miss collisions with about 650 satellites this year, half of which did not share their position.
In its blog post, SpaceX flagged two particularly dangerous near-misses.
In August, one of its satellites came within 134 meters of another satellite, with the Starlink satellite forced to rotate its arrays to a "knife-edge profile" to duck out of the way of its neighbor after it unexpectedly changed direction.
SpaceX Starship loses control and explodes
SpaceX said a Starlink satellite narrowly missed another object in October 2025, after the other satellite changed its trajectory to put it on a path that would have passed within 57 meters of the Starlink relay.
However, we cannot mitigate risk when another operator maneuvers without sharing a predicted trajectory that includes the burn.
This is the biggest risk in LEO pic.twitter.com/5sqbmW1aD7
— Starlink (@Starlink) October 6, 2026 SpaceX makes data on the trajectories of its Starlink satellites publicly available, but not every operator does, and the company said these gaps are increasing the risk of a catastrophic collision.
Astronomers have for years warned that the growing number of objects in orbit increases the risk of a runaway cascade of satellite collisions, creating a cloud of debris that could make some parts of Earth's orbit unusable or even block humanity's access to space entirely.
In its blog post, SpaceX said that its Starlink network had observed around 164,000 potential near-miss collisions over the past six months. The company said that it had reached out to other operators to alert them of flaws in their collision screening, some of which they were not aware of until SpaceX informed them.
It's not the first time SpaceX has railed against a lack of space in space. The Starship launcher said in January it would move around 4,400 Starlink satellites to reduce the risk of collisions, months after a near-miss with nine Chinese satellites.
According to data published by SpaceX, the vast majority of satellites that had close encounters with Starlink this year, which did not share their trajectory data, originated in China.
SpaceX has also faced complaints in the past about the orbits of its Starlink satellites. In 2021, China complained to the United Nations that two Starlink satellites had nearly collided with the country's Tiangong space station.
SpaceX is gearing up to massively expand Starlink, which is already the world's largest satellite constellation by far. Elon Musk has said the rocket giant plans to launch up to 100,000 Starlink satellites and as many as one million orbital data centers in the coming years.
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Since it went public on June 12, Space Exploration Technologies' (SPCX +0.48%) stock price has climbed as high as $225.64 and has traded as low as $104.83. Most recently, however, it's gaining some traction, with the stock climbing 11.4% over the last month and closing at $171.09 on Oct. 5.
As it appears to be finding its footing, we'll take a look at not only what a $3,000 investment in SpaceX at the start of September would have been worth at the start of October, but we'll also look at what could be ahead for the stock price over the next year.
Image source: The Motley Fool.
Investing $3,000 in SpaceX On Sept. 1, SpaceX opened at $141.87 per share. With a $3,000 investment at that price through fractional investing, you would get a little more than 21 shares.
On Oct. 1, SpaceX shares opened at $150.56, a noticeable climb from that Sept. 1 opening price. At $150.56 per share, that original $3,000 investment would be worth approximately $3,182, a gain of roughly 6%, easily outperforming the S&P 500's (^GSPC +0.58%) 0.4% return over the same period.
By October 2027, however, SpaceX could be on the path for more meaningful gains, based on analysts' price targets.
A one-year outlook In general, analysts are bullish on SpaceX stock. Of the 41 who cover it, 76% rate it a buy, 17% a hold, and 7% a sell, according to CNN. From that group of 41 analysts, the median one-year price target is $212, representing a 23.9% gain from the Oct. 5 closing price of $171.09.
We won't model the returns for the group's most bullish price target, $800, because it's more likely SpaceX will take years to reach that target than achieve it over the next 12 months. That said, we can look at the group's lowest target of $75, which would represent a 56.1% loss.
While those price targets shouldn't be considered guarantees, they indicate the general direction analysts forecast the stock will take next, which can help set up a risk-to-reward framework.
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Investment considerations for SpaceX SpaceX believes it has a total addressable market (TAM) of $28.5 trillion, with $26.5 trillion of that TAM coming from artificial intelligence (AI). It could become a leader in a new wave of AI infrastructure by launching satellites to serve as AI data centers in 2028.
That said, launching data centers in space is still years away; there are plenty of challenges to navigate, and SpaceX is spending heavily. In 2025, SpaceX spent roughly $12.7 billion on its AI segment alone, and total capital expenditures for just the second quarter of 2026 were $18.3 billion.
As the $3,000 investment in SpaceX at the start of September, which grew to $3,182 by the start of October, shows, shareholders will need to give the company more time to deliver meaningful returns.
Nautilus Advisors LLC increased its stake in SpaceX (NASDAQ:SPCX – Free Report) by 153.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,297 shares of the company’s stock after purchasing an additional 5,628 shares during the quarter. SpaceX accounts for 0.9% of Nautilus Advisors LLC’s investment portfolio, making the stock its 27th largest position. Nautilus Advisors LLC’s holdings in SpaceX were worth $1,403,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Syntax Research Inc. acquired a new position in SpaceX during the second quarter worth about $26,000. Atwood & Palmer Inc. acquired a new stake in shares of SpaceX during the 2nd quarter valued at approximately $29,000. PayPay Securities Corp purchased a new stake in shares of SpaceX during the 2nd quarter worth approximately $30,000. Marquette Asset Management LLC acquired a new stake in shares of SpaceX in the 2nd quarter worth approximately $32,000. Finally, Hickory Point Bank & Trust acquired a new stake in shares of SpaceX in the 3rd quarter worth approximately $30,000.
Analyst Ratings Changes Several equities analysts recently issued reports on SPCX shares. Piper Sandler reduced their price objective on SpaceX from $156.00 to $140.00 and set a “neutral” rating for the company in a report on Wednesday, August 5th. TD Cowen initiated coverage on SpaceX in a report on Monday, September 28th. They issued a “buy” rating and a $200.00 target price on the stock. Roth Capital upgraded SpaceX to a “buy” rating in a research report on Monday, June 22nd. Raymond James Financial downgraded SpaceX from a “strong-buy” rating to a “strong sell” rating in a research note on Friday, August 7th. Finally, KeyCorp reiterated a “sector weight” rating on shares of SpaceX in a research report on Tuesday, July 28th. Three research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, seven have issued a Hold rating and seven have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $218.68.
Get Our Latest Stock Report on SPCX Insider Activity at SpaceX In related news, COO Gwynne Shotwell sold 342,170 shares of SpaceX stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $153.57, for a total transaction of $52,547,046.90. Following the completion of the sale, the chief operating officer owned 2,472,035 shares in the company, valued at approximately $379,630,414.95. This trade represents a 12.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
SpaceX Price Performance Shares of SpaceX stock opened at $171.92 on Wednesday. SpaceX has a 1 year low of $104.83 and a 1 year high of $225.64. The company has a debt-to-equity ratio of 0.29, a current ratio of 5.12 and a quick ratio of 4.99. The stock’s 50 day moving average is $141.88. The firm has a market cap of $2.27 trillion and a P/E ratio of -1,910.22.
SpaceX (NASDAQ:SPCX – Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.17. The company had revenue of $7.81 billion for the quarter. The business’s revenue was up 91.9% on a year-over-year basis. As a group, research analysts expect that SpaceX will post 0.09 EPS for the current fiscal year.
Key Stories Impacting SpaceX Here are the key news stories impacting SpaceX this week:
Positive Sentiment: Morgan Stanley reiterated a $300 price target and Buy-equivalent rating, calling SpaceX “cheap and getting cheaper” on a growth-adjusted basis. The firm sees significant potential in AI computing, Starlink, and the company’s ability to address power and chip constraints. SpaceX Stock Jumps on Bullish Morgan Stanley Call Positive Sentiment: Operational milestones strengthened the growth narrative. Crew-13 reportedly reached the International Space Station in a NASA-record time, while recent Starship progress and multiple successful launches support SpaceX’s expanding launch cadence and commercial ambitions. SpaceX Crew-13 Shatters NASA Speed Record Positive Sentiment: Starlink reportedly surpassed 12 million subscribers, providing evidence of continued satellite-internet expansion. Investors are also assigning value to potential AI-compute customers, including reported discussions with Microsoft, and possible chip-manufacturing cooperation involving TSMC. Morgan Stanley and TD Cowen Back SpaceX Neutral Sentiment: Options markets indicate a slower recovery may be ahead. Although SPCX has reclaimed its debut close, relatively subdued volatility and cautious option pricing suggest traders do not expect an immediate return to the post-IPO high near $225. SpaceX Stock Is Taking Off Again Negative Sentiment: A reported plan to raise approximately $40 billion could pressure the stock. The financing may fund ambitious AI infrastructure and space projects, but it also raises concerns about substantial capital needs, leverage, or shareholder dilution. Why SpaceX Stock Is Down After Hours Negative Sentiment: Valuation and near-term supply risks remain significant. Critics argue the stock already reflects considerable Starlink and AI success, while up to 328.4 million shares may become eligible for sale on October 9. The potential increase in tradable shares could create selling pressure after the recent rally. SpaceX Stock Gains Ahead of Share Unlock SpaceX Profile (Free Report)
Space Exploration Technologies Corp. (SpaceX) is a privately held aerospace company founded in 2002 by Elon Musk. The company develops and operates launch vehicles, spacecraft and satellite systems designed to reduce the cost of access to space and support commercial, government and scientific missions.
SpaceX’s primary products and services include the Falcon 9 and Falcon Heavy launch vehicles, the Dragon spacecraft and the Starlink satellite internet network. The company also is developing Starship, a fully reusable launch and spacecraft system intended for missions to Earth orbit, the Moon and Mars.
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The scarcest input in the AI buildout may not be a chip or a power contract. It may be a licensed electrician.
Rob Spivey, director of research at Altimetry, calls this group of stocks the blue-collar millionaire plays. As hyperscaler spending climbs, the companies that employ skilled trades, and supply the equipment those workers use, could capture more of the AI payoff than the market is currently pricing in.
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Why Skilled Trades Are Becoming the AI BottleneckSpivey sees two education trends moving in opposite directions. The number of college-age Americans has peaked, and he argues the wage premium for many degrees has shrunk just as tuition reached record highs. Entry-level white-collar roles in fields like computer science are also among the most exposed to AI.
Vocational training is heading the other way. Spivey points to roughly 50% enrollment growth since 2022 in programs for welders, electricians, HVAC technicians, and plumbers.
Demand explains the shift. Microsoft NASDAQ: MSFT President Brad Smith wrote in 2025 that the United States may need half a million new electricians over the next decade. Spivey argues that the estimate came before the latest jump in spending. He cites hyperscaler capital expenditures (CapEx) of about $800 billion this year, with forecasts of $1.1 trillion and then $1.2 trillion in the years ahead. At that pace, he believes the need could be closer to a million workers.
When something gets scarce, it gets expensive. That's good news for tradespeople and for the companies that can recruit, train, and keep them.
EMCOR Turns Workforce Investment Into Backlog GrowthEMCOR Group Today
$824.85 +45.65 (+5.86%)
As of 10/6/2026 03:59 PM Eastern
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EMCOR Group NYSE: EME handles the electrical and mechanical work inside complex projects, typically working under a general contractor. Spivey estimates about half its business is now tied to data centers, with the rest spread across high-tech manufacturing, industrial and healthcare.
The demand shows up clearly. Remaining performance obligations hit a record $17.14 billion at the end of June, up nearly 44% from a year earlier, with data center contracts a major driver.
What stands out to Spivey is how management talks about the business. Workforce comes first on earnings calls. He notes frontline headcount has grown from about 34,000 to 44,000 in recent years, supported by recruiting and apprenticeship programs. In his view, that labor pool is the moat. More trained workers means more projects EMCOR can take on.
The market's biggest question is durability once data centers are built. Spivey's answer centers on hyperscaler economics. He projects their earnings could reach roughly $1 trillion a year by 2030 on his uniform accounting basis, which would make today's spending pay back quickly and give companies a reason to keep investing.
Dycom Rides Fiber, Broadband, and Data Center PowerDycom Industries Today
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Dycom Industries
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Dycom Industries NYSE: DY is the company telecom carriers call to lay fiber. Spivey sees three tailwinds: government-funded rural broadband, the need to replace aging fiber that can't handle today's speeds, and the acquisition of Power Solutions, a roughly $1.95 billion deal that moved Dycom into electrical work for data centers in the Washington, D.C., region.
Dycom also isn't exposed to product obsolescence the way a manufacturer like Corning NYSE: GLW can be. New technology still has to go into the ground.
The chart has been rough. Shares have pulled back sharply in recent months, and Spivey ties much of that to broader worry across AI infrastructure as local opposition to data centers becomes an election issue. Company results played a role too: the stock fell after its latest quarterly report on concerns about communications margins and a shift in the timing of wireless revenue.
Political pushback may change where data centers get built, not whether they get built. Spivey expects more projects in power-rich, land-rich areas like Texas, which would mean longer fiber runs and more work for Dycom.
United Rentals Supplies the Equipment Behind the BuildoutUnited Rentals Today
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Every trench, foundation and power line needs lifts, forklifts, backhoes, and earth-moving equipment. United Rentals NYSE: URI rents all of it.
The company also creates blue-collar millionaires directly. It's an active acquirer of family-owned rental businesses, turning decades of hard work into a payout for the owners.
Spivey argues the market is pricing United Rentals' earnings as roughly flat. His uniform accounting points to the 2012 acquisition of RSC Holdings, which brought in a higher-return specialty rental model. On his adjusted basis, return on assets climbed from about 6% to 7% to around 12%, an improvement that the reported figures obscured. That mix of specialty services and scale sets it apart from rivals like Herc Holdings NYSE: HRI.
The demand isn't only about AI, either. Reshoring has fueled steady construction of factories, warehouses, and logistics hubs since the pandemic.
Weighing the Upside Against the Risk for AI Infrastructure StocksThe upside is a multiyear spending cycle meeting a real labor shortage. Companies that have already built their workforce could have pricing power that competitors can't easily match.
The risk is that sentiment around AI CapEx can shift fast, and political or permitting delays could push out project timelines. Execution on acquisitions and margins still matters, as Dycom's recent quarter showed.
Stay focused on backlog and headcount—because in this buildout, skilled hands are what turn CapEx into revenue.
Altimetry has also been digging into SpaceX NASDAQ: SPCX as an AI company, and the public stocks are positioned around that story. Get Altimetry's special report on the SpaceX AI opportunity to see the names on the research team's radar.
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Vesmírná a AI společnost SpaceX údajně jedná s bankami a investory o získání 40 mld. USD na nákup čipů od Nvidie. Uvedly to pro Financial Times zdroje obeznámené se situací. Podle deníku chce firma získat zhruba 10 mld. USD prostřednictvím bankovních úvěrů a 30 mld. USD formou dluhu s investičním ratingem. Financování má vést Apollo Global Management, které má také pomoci umístit dluh u širokého okruhu investorů. Transakce by měla být uzavřena v roce 2027. Podle agentury Bloomberg by šlo o jedno z největších dluhových financování v historii v rámci budování AI infrastruktury.
Mezi malou skupinou věřitelů, kteří o financování jednají, je údajně i společnost Pimco. Jednání jsou však v rané fázi a mohou skončit bez uzavření dohody.
Vývoj akcií Akcie SpaceX (SPCX) v předburzovní fázi obchodování oslabují o 2,03 % na 168,43 USD.
Zdroj: Bloomberg, Financial Times
Michal Bárta
Fio banka, a.s.
Prohlášení
Související odkazy US akcie se drží v úvodu páteční seance blízko maxim, Reddit vstupuje do indexu S&P 500 Wall Street otevírá obchodní týden v červeném SpaceX v prvním reportu po IPO překonal očekávání, akcie ale srážejí investice do AI Tesla zvažuje oddělení čínského byznysu před možným spojením se SpaceX Americké akciové indexy rostou po dohodě mezi USA a Íránem
Together with the strong three-day rally, SpaceX (NASDAQ: SPCX) stock short volume ratio rose and, by Tuesday, October 6, hit a new two-week high.
Specifically, the number climbed to 61.02 – slightly higher than Monday’s 58.98 and significantly higher than Friday’s 50.75 – indicating a rising belief that the SPCX equity uptrend cannot be sustained, per the data Finbold retrieved from Fintel on Wednesday, October 7.
SPCX stock daily short volume ratio between September 23 and October 6. Source: Fintel Indeed, the short volume ratio measures the proportion of bullish to bearish bets on a stock, and the latest readings for SpaceX shares signal that a significant majority of trades were positioned for a downside.
SpaceX stock soars 15% in three days Meanwhile, the two-week high of 61.02 came as the SPCX rally – started in earnest on October 2 – that, at its peak, took the equity nearly 18% began stagnating.
Not only has SpaceX stock risen only 0.49% on Tuesday, but it also fell substantially from the intraday highs and even went 1.15% into the red in the subsequent extended session.
SpaceX stock price five-day chart. Source: Google Nonetheless, shorting SPCX shares could easily prove a losing wager since most of the catalysts that enabled the rise from the previous range below $150 to the latest closing price of $171.92 and the press time price of $169.94 remain in play.
Could a SPCX stock short squeeze be imminent? As Finbold reported on October 6, the latest SpaceX stock launch appears driven by a variety of smaller, yet important positive developments.
Wall Street analysts have repeated their belief in the firm’s long-term prospects, while also ushering in a degree of urgency to buy ahead of the planned Starship Flight 15 – itself an important driver, as it will, if successful, prove the third consecutive milestone rocket launch.
Simultaneously, Elon Musk’s return to the Trump Administration as a co-leader of a cutting-edge Pentagon program also reinforced the trillionaire’s strained relationship with the commander-in-chief – a crucial development given how intertwined SpaceX is with the U.S. government.
Similarly, the fact that the world’s first trillionaire confirmed that his company would adopt President Donald Trump’s name change of artificial intelligence (AI) into ‘super intelligence’ (SI) served as another piece of the puzzle.
Lastly, and looking ahead, SpaceX’s hope to secure $40 billion in funds to purchase Nvidia (NASDAQ: NVDA) chips might provide the final ingredient to ensure a short-term short squeeze.
Featured image via Shutterstock
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SpaceX stock (NASDAQ: SPCX) slipped after hours on Tuesday after the Financial Times reported that Elon Musk's company is seeking $40 billion of financing to buy Nvidia AI chips. The proposed package would include about $10 billion of bank loans and $30 billion of investment-grade debt, led by Apollo Global Management, with the transaction expected to close in 2027.
Space Exploration Technologies Corp. (NASDAQ:SPCX) is back above its first-day close, but the options market suggests traders shouldn’t expect a quick run back to the stock’s June highs.
SpaceX shares rose 0.49% Tuesday, on top of Monday’s roughly 8% gain to $171.09, to mark their highest close since mid-June. The stock is up nearly 50% from its early-August low, per Benzinga Pro market data, and is well above its IPO price.
Catalysts Stack UpMorgan Stanley analyst Adam Jonas reiterated an Overweight rating and a $300 price target in a Sunday note.
“Adjusted for growth, SpaceX is one of the cheaper ways to play the strong optionality of the Space and Intelligence Economy,” he wrote. Jonas pointed to Starship Flight 15, expected in late October or early November. He said a ship catch “could be the biggest positive catalyst since the IPO.”
Third-quarter earnings are also due late this month. Last Thursday, a Falcon 9 carried four astronauts to the International Space Station in under eight hours, a new record. The rally also put CEO Elon Musk‘s net worth back at $1.03 trillion, according to Forbes.
Read Next
Call Buyers Pile InSpaceX options volume ran at twice the 30-day average Monday, CNBC said. About 1.7 million contracts worth roughly $900 million changed hands. Calls made up 1 million of them, worth more than $640 million.
Cboe LiveVol data show traders likely bought 456,000 calls and fewer than 240,000 puts. They likely sold 250,000 puts and 295,000 calls, according to CNBC.
Volatility Tells a Different StoryBack in June, SpaceX took less than three sessions to go from $171 to an intraday high above $225, with implied volatility over 110. After seven weeks of trading within a 10% range, IV was near 55 Monday, up from an all-time low below 50 last Thursday.
Lower implied volatility means traders expect smaller, slower moves. Options pricing at Monday’s close put the odds of SpaceX touching $225 at any point before July below 50%. Shorter-dated contracts gave it a 54% chance of reaching $185 by the end of October, according to data cited by CNBC.
Skew is also flashing caution as SpaceX puts carry implied volatilities equal to or higher than calls, so traders are pricing a sharp drop as about as likely as a big rally.
NVIDIA Corp. (NASDAQ:NVDA) shows the reverse. Calls there cost more in many expirations, a sign its investors worry more about missing a rally than about a sell-off.
Unless SpaceX picks up speed again, a return to record highs looks like a longer haul.
Read Next
Photo: Shutterstock
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
An NVIDIA logo appears in this illustration taken August 25, 2025. REUTERS/Dado Ruvic/Illustration/File Photo Purchase Licensing Rights, opens new tab
Oct 6 (Reuters) - SpaceX (SPCX.O), opens new tab plans to raise $40 billion, led by asset manager Apollo Global Management (APO.N), opens new tab, for purchasing Nvidia (NVDA.O), opens new tab AI chips, the Financial Times reported on Tuesday, citing people familiar with the matter.
The Elon Musk-led company is looking to raise about $10 billion in bank loans and $30 billion in investment-grade debt for the chip order, the report said.
Sign up here.
The proposed funding underscores the enormous capital requirement of the AI boom, as tech companies race to secure advanced processors and build out the computing infrastructure needed to support AI development.
Morgan Stanley estimates AI infrastructure will require $1.5 trillion in external financing by 2028, even as lenders and investors grow more cautious about funding the industry's expansion.
Apollo is expected to lead the SpaceX deal and help place the debt with a broad range of investors, with bond fund Pimco among a small group of lenders in talks to provide financing, the newspaper reported, adding that the transaction is expected to close in 2027.
Shares of the rocket and spacecraft manufacturer fell 1% in extended trading after the report, while Nvidia's stock rose 0.5%.
While SpaceX, Apollo and Nvidia did not immediately respond to Reuters requests for comment, Pimco declined to comment.
Musk, who took SpaceX public in June in a record $86 billion IPO, had said last month, opens new tab that xAI's Colossus 2 data center could more than double the number of Nvidia chips it uses by December.
The company plans to use Nvidia hardware exclusively to build its data centers, Musk said.
Nvidia, the dominant supplier of AI processors, in August partnered with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR on financing platforms intended to mobilize more than $500 billion for AI infrastructure projects.
Recasts throughout, updates with background and shares
Reporting by Rishabh Jaiswal in Bengaluru; Editing by Diti Pujara and Rashmi Aich
Our Standards: The Thomson Reuters Trust Principles., opens new tab
SpaceX Shares Rally as Goldman Sachs Gives Stock a Powerful Boost Summary
Goldman Sachs raised its SpaceX price target to $230, pointing to stronger expectations for the company’s AI business
SpaceX SPCX shares continued their recent climb on Tuesday, gaining 2% in morning trading after gaining more than 18% over five sessions. Goldman Sachs lifted its 12-month price target to $230 from $220 while keeping a Buy rating.
The higher target reflects improved expectations for SpaceX's artificial intelligence business. Analyst Eric Sheridan raised forecasts for computing capacity, revenue and margins through 2028, citing enterprise demand and recent business activity.
At $230, the target implies about 33% upside from the reported trading level. Sheridan also expects SpaceX to reach a new record within the next year as the company expands its AI capabilities.
Investors are also watching the potential contribution from SpaceX's space operations. The analyst expects higher launch activity and better rocket reusability to create additional growth opportunities over time.
Wall Street remains constructive on the shares. For instance, Morgan Stanley analyst Adam Jonas maintained a Buy view with a $300 target.
Disclosures I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours.
Shares of SpaceX (Nasdaq: SPCX) are having a good October so far, reaching highs not seen since June, when Elon Musk’s space and AI company made its debut on the Nasdaq.
The stock rose over 18% in the last week, closing Monday at $171.09—higher than its IPO day close of $160.95 for the first time in three months.
Overall, SpaceX hasn’t had the most successful time on the market, so why the sudden turnaround?
It comes down to a few things. For starters, last week was promising for SpaceX, with the company launching multiple successful missions.
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It was responsible for a crewed NASA mission to the International Space Station (ISS) and launching Google’s homegrown Tensor processing units into space, where the chips will orbit Earth in a capabilities test.
Morgan Stanley’s vote of confidenceThe next boost for SpaceX came on Sunday, courtesy of Morgan Stanley analyst Adam Jonas.
In a note about SpaceX’s stock, Jonas encouraged investors to take advantage of lower SpaceX share prices before the company reaches a few upcoming milestones, Yahoo Finance reports.
SpaceX (SPCX - Free Report) closed the last trading session at $171.09, gaining 15.6% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $221.17 indicates a 29.3% upside potential.
The average comprises 35 short-term price targets ranging from a low of $75.00 to a high of $800.00, with a standard deviation of $121.37. While the lowest estimate indicates a decline of 56.2% from the current price level, the most optimistic estimate points to a 367.6% upside. More than the range, one should note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts.
While the consensus price target is a much-coveted metric for investors, solely banking on this metric to make an investment decision may not be wise at all. That's because the ability and unbiasedness of analysts in setting price targets have long been questionable.
However, an impressive consensus price target is not the only factor that indicates a potential upside in SPCX. This view is strengthened by the agreement among analysts that the company will report better earnings than what they estimated earlier. Though a positive trend in earnings estimate revisions doesn't give any idea as to how much the stock could surge, it has proven effective in predicting an upside.
Price, Consensus and EPS Surprise
Here's What You May Not Know About Analysts' Price TargetsAccording to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading.
While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. Are you wondering why?
They usually do that to drum up interest in shares of companies that their firms either have existing business relationships with or are looking to be associated with. In other words, business incentives of firms covering a stock often result in inflated price targets set by analysts.
However, a tight clustering of price targets, which is represented by a low standard deviation, indicates that analysts have a high degree of agreement about the direction and magnitude of a stock's price movement. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.
That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. So, price targets should always be treated with a high degree of skepticism.
Why SPCX Could Witness a Solid UpsideAnalysts' growing optimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason to expect an upside in the stock. That's because empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
The Zacks Consensus Estimate for the current year has increased 183.7% over the past month, as one estimate has gone higher compared to no negative revision.
Moreover, SPCX currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than 4,000 stocks that we rank based on four factors related to earnings estimates. Given an impressive externally-audited track record, this is a more conclusive indication of the stock's potential upside in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Therefore, while the consensus price target may not be a reliable indicator of how much SPCX could gain, the direction of price movement it implies does appear to be a good guide.
AI data centers in space just got one step closer to reality. Last week, SpaceX (SPCX +1.52%) launched a prototype satellite for Alphabet's (GOOG -0.03%) (GOOGL +0.22%) Project Suncatcher that contains four of its Tensor Processing Units (TPUs). Alphabet is testing how those TPUs fare in space, in pursuit of its longer-term objective to operate entire constellations of data center satellites in low earth orbit, where they can run on nearly continuously available solar power.
Yet even if data centers in space become a reality, this development is unlikely to eliminate the market for the neocloud companies currently scrambling to build as many data centers as they can on Earth.
Image source: Getty Images.
Orbital data center hardware is more expensive Any time Nvidia (NVDA +0.73%) releases a new GPU or AI platform, data center operators can order a bunch of chips and have them delivered by truck or plane. However, if those same chips are installed in a data center satellite, bringing them online requires a rocket launch. And putting payloads into orbit is still a extremely costly.
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That's not even including the initial costs of building the rest of the hardware for an orbital data center. Overall, Boston Consulting Group estimates that on a processing-power basis, satellite-based data centers will be 2.5 to 3 times more expensive than data centers on Earth -- even though they will have no electricity costs. The researchers acknowledged that this gap could shrink over time as the cost of putting payloads into orbit falls.
While orbital data centers would sidestep the power and land constraints that are among the bottlenecks to standard data center development, those issues are less of a problem for neoclouds like Nebius (NBIS +8.48%) and Iren (IREN +2.30%), which have gained considerable head starts in infrastructure.
Tech executives are taking the orbital data center idea seriously. Nvidia is hiring an orbital data center system architect, but it also owns multibillion-dollar stakes in Iren and Nebius. If orbital data centers prove technically and commercially viable, they won't make data centers on Earth obsolete, any more than air freight eliminated the markets for freight railroads or tractor-trailers.
AI infrastructure still has to work in space The launch of Google's TPUs into space was a milestone moment in the quest to make data center satellites a reality. Such processors must prove that they can operate properly and sustainably in space before they're deployed at scale. However, the technological hurdles involve more issues than just AI chips. Server racks, thermal management resources, power generation systems, and telecommunication products must all work in harmony, too.
While data center satellites would avoid some of the obstacles that terrestrial data centers face, they have numerous challenges of their own. Although SpaceX CEO Elon Musk suggested his company would be putting data center satellites into orbit by the end of 2027, he has a well established track record of setting ambitious timelines for his bold projects, and then repeatedly missing the deadlines he sets.
For instance, last year, Tesla (TSLA +0.69%) temporarily halted mass production of Optimus robots due to design challenges with their hands. Musk had earlier stated that the company would produce at least 5,000 robots by the end of 2025. It did not. In August 2026, Optimus production finally reached the level of several hundred robots per week -- and they are still having issues.
However, even if something doesn't happen as soon as Musk is promising, that doesn't mean that it will never happen. SpaceX may eventually get large numbers of data center satellites operational. Alphabet and other tech giants own significant stakes in SpaceX, giving them incentives to support the company and see it succeed.
Hyperscalers need compute right now All that said, tech giants do not have time to wait around for orbital data centers to become established. They need compute for their AI models, products, and services right now, and they aren't afraid to pay a premium for it. Iren, Nebius, and other neoclouds have been able to negotiate steadily higher annual contract values for their available megawatts as supply crunches continue.
It's at the point where Meta Platforms (META -0.05%) reached a deal with Oklo (OKLO +7.51%) for a 1.2-gigawatt nuclear-powered data center campus in Ohio that will not be completed until 2034. Granted, the first phase of the project could come online as early as 2030, but it shows that tech companies are bidding on electricity supplies for data centers that will not be available for almost a decade.
Neocloud companies have available megawatts of power committed to support their pipelines, and they have been scaling to multigigawatt pipelines behind the scenes. As more of those data centers come online, the neoclouds will have the flexibility to charge higher prices, especially as agentic AI and physical AI further increase the demand for compute.
Neoclouds are poised to win right now and for years to come, and while orbital data centers could become a niche option in the future, they are unlikely to supplant AI data centers built on Earth.
As Space Exploration Technologies Corp. (NASDAQ: SPCX) stock price rallied to its highest level since June 22, on October 6, 2026, SpaceX’s valuation was also boosted by its Bitcoin (BTC) holdings.
SpaceX’s Bitcoin holdings added more than $191.72 million over the past 20 days, up from $1.41 billion on September 16, to $1.61 billion on Tuesday, according to data Finbold fetched from Arkham Intelligence.
SpaceX’s Bitcoin holding value in USD. Source: Arkham Intelligence During this period, SpaceX did not purchase or distribute its BTC holdings, currently at 18,720 Bitcoin. However, this Bitcoin treasury company benefited from BTC’s 14% climb, bolstered by renewed institutional demand and supportive regulatory efforts in the United States.
SpaceX’s BTC holding change over the past 20 days. Source: Arkham Intelligence Notably, BTC price moved from $75,585 on September 16 to trading at nearly $86,000 at the time of reporting.
How profitable are SpaceX’s Bitcoin holdings? Over the past three months, SpaceX’s Bitcoin trove has seen its profit rise from $490 million on July 7 to $909 million at the time of publication.
SpaceX’s Bitcoin profitability chart. Source: Arkham Intelligence Despite the 2026 crypto bear market, SpaceX has been profitable in its BTC holdings since October 24, 2023. Consequently, this company is well positioned to benefit from the crypto bull market in addition to the Artificial Intelligence (AI) boom, as Finbold highlighted.
What’s next for the BTC price? Even though the BTC price has surged by roughly 14% over the last 20 days, top Wall Street banks, including Citigroup Inc. (NYSE:C) and Bernstein, expect further upside by the end of this year.
Specifically, Citi’s BTC price prediction for December 31, 2026 is $113,000, as Finbold reported.
As such, SpaceX’s Bitcoin holdings could attract more gains, potentially surpassing $1.87 billion in total value by the end of this quarter.
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Key Takeaways Morgan Stanley sees about 75% upside for SpaceX, citing Starship and AI growth catalysts.SpaceX shares jumped about 7.7% on Monday following Morgan Stanley's bullish call.SpaceX-heavy ETFs provide a diversified way to tap into SpaceX's growth story. After reaching highs in the initial days following its mid-June IPO, SpaceX (SPCX - Free Report) shares fell sharply, declining about 48% through late July. However, since the start of August, the aerospace company’s stock has turned the tables, rebounding about 58%.
Morgan Stanley’s (MS - Free Report) bullish call on Sunday added to SPCX’s momentum, with shares rising about 7.7% on Monday to their highest level since mid-June. SPCX rose about 0.40% during pre-market hours on Tuesday.
According to analysts at Morgan Stanley, SpaceX is “cheap” at current prices, highlighting potential catalysts, including “future AI product releases, Starship progress, and additional neocloud contracts,” as quoted on a CNBC article.
With a Buy recommendation, Morgan Stanley analysts have set a $300 price target, suggesting about 75% upside from Monday’s close of $171.09. As quoted on the abovementioned article, Morgan Stanley analysts recommended buying SpaceX shares ahead of the next planned Starship test flight and the company’s third-quarter earnings report, which is expected in late October.
What's Driving Morgan Stanley's Bullish SpaceX Call?According to analysts at the investment bank, a successful attempt to catch the Starship upper-stage ship in the upcoming test flight, Starship flight 15, could mark the company’s most significant positive development since its IPO.
Adding to the bullish case for SPCX is the company’s AI business. SpaceX’s AI unit. Elon Musk said on Sunday that it is expected to be named SpaceXSI. It is generating significant revenues by renting out computing capacity. SpaceX’s AI business is gaining traction, with Anthropic and Google already among its major customers and it has signed multibillion-dollar deals. Microsoft is expected to become another key customer.
As reported by Reuters, according to Anthropic’s confidential IPO prospectus, Anthropic is expected to spend as much as $84.5 billion through 2029 on NVIDIA-powered computing capacity supplied by SpaceX’s AI unit.
Into SPCX’s Stock OutlookSpaceX currently has an average brokerage recommendation (ABR) of 1.77 on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations made by 39 brokerage firms. The current ABR compares to an ABR of 1.83 two months ago based on 35 recommendations.
Of the 39 recommendations deriving the current ABR, 25 are Strong Buy and three are Buy. Strong Buy and Buy, respectively, account for 64.1% and 7.69% of all recommendations. Two months ago, Strong Buy made up 62.86%, while Buy represented 5.71%, indicating that the majority of the analysts remain bullish.
Based on short-term price targets offered by 35 analysts, the average price target for SpaceX comes to $221.97, ranging from a low of $75.00 to a high of $800.00. The average price target represents an increase of 29.74% from the last closing price of $171.09 (as of market close on Oct. 5). SPCX has a Zacks Rank #2 (Buy) and a Momentum Score of A.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Tap Into SpaceX's Growth With These ETFsHere, we have highlighted ETFs with exposure to SpaceX.
Roundhill Space & Technology ETF (MARS - Free Report) has an exposure of 26.76%.
Global X Space Tech ETF (ORBX - Free Report) has an exposure of 24.94%.
VanEck Space ETF (WARP - Free Report) has an exposure of 22.38%.
VegaShares Space & AI ETF (XSPC - Free Report) has an exposure of 17.66%.
WisdomTree Space Economy Fund (WSPC - Free Report) has an exposure of 17.7%.
Procure Space ETF (UFO - Free Report) has an exposure of 15.80%.
SpaceX shares rose about 1.5% to $173.66 by midday Tuesday, extending a sharp rally that has pushed the stock back above its IPO price.
SpaceX has taken off in recent sessions, posting gains of more than 7% on both Friday and Monday.
The rally also boosted CEO Elon Musk’s net worth to more than $1 trillion.
SpaceX made a historic public debut as the largest IPO by proceeds, raising $75 billion in June.
Shares initially surged as high as $225 before a correction set in.
The stock then spent much of late summer and September trading in the $140s and $150s before breaking higher.
Morgan Stanley provided a major catalyst for the latest leg of the rally, with analyst Adam Jonas reiterating an "Overweight" rating and maintaining a $300 price target.
Jonas described the shares as unusually cheap when adjusted for expected growth, arguing that the market is still underestimating SpaceX's longer-term earnings potential.
Morgan Stanley's sum-of-the-parts valuation assigns $8 per share to external launch operations, $118 to Starlink connectivity, $8 to consumer AI tools such as Grok and $165 to AI enterprise services.
Goldman Sachs is adding to the bullish Wall Street case.
Analyst Eric Sheridan raised Goldman’s 12-month price target to $230 from $220 while maintaining a "Buy" rating.
Sheridan also raised Goldman’s forecasts for SpaceX’s AI business across compute capacity, revenue and margins.
He said AI estimates still looked relatively conservative over the next six to 18 months, assuming there is no broader correction across the AI sector.
Operational execution has also strengthened the bullish case.
Last week, SpaceX completed a full orbital test of Starship and deployed all 26 Starlink V3 satellites despite an engine outage during ascent.
The company later launched four astronauts to the International Space Station in less than eight hours while also deploying Google's Project Suncatcher, an experimental payload designed to test AI chips in orbit.
The missions added to the positive operational backdrop as investors looked ahead to further Starship milestones.
SpaceX is also benefiting from the expansion of its artificial intelligence business, which it inherited when it acquired Musk’s xAI in February 2026 and later expanded through its acquisition of Cursor.
The company's AI strategy is increasingly focused not only on models such as Grok but also on providing computing capacity to major technology companies.
SpaceX has been expanding its ability to monetize that infrastructure through agreements involving customers including Google and Anthropic, helping explain why AI has become a much larger part of the valuation debate.
Goldman's latest note reinforces that point, with Sheridan arguing that Street estimates for the AI segment remain conservative over the next six to 18 months.
Defense adds another leg to the storySpaceX's growing defense business is another part of the investment case.
Defense Secretary Pete Hegseth recently appointed Musk as a co-lead of Project Meridian, a Pentagon initiative examining future warfare and emerging military capabilities.
SpaceX has also increasingly expanded its government and defense business.
The company generated about $5.9 billion in revenue from US government agencies in 2025 and said it had been awarded more than $6 billion in multi-year US government contracts for Starshield.
Space Exploration Technologies Corp. (NASDAQ:SPCX) is trending Tuesday on fresh analyst coverage and Starlink growth.
Morgan Stanley Says SpaceX Looks Cheap on Growth-Adjusted MathMorgan Stanley analyst Adam Jonas reiterated an Overweight rating and a $300 price target on SpaceX in a Sunday note titled “Cheap and Getting Cheaper.” Jonas says investors are judging SpaceX by the wrong measure. Headline multiples make the stock look pricey, but adjusting for growth tells a different story, he said, urging investors to buy before Starship Flight 15.
Near current levels, SpaceX trades at about 30 times estimated 2028 EV/EBIT, a measure that sets enterprise value against operating profit. A peer group of mega-cap AI enablers trades near 16 times. Adjusted for growth, SpaceX falls to about 0.3 times, roughly 40% under the group’s median of 0.5 times. Even at the $300 target, SpaceX would sit around just 0.6 times.
Jonas believes the price already reflects most or all of what the space and connectivity units are worth. Morgan Stanley puts that value at $127 per share. The rest is what investors are paying for SpaceX’s AI business, about 3 times 2028 sales, in line with neocloud companies.
TD Cowen Sees AI Leasing and Starship Driving SpaceXTD Cowen made a similar case last week when analyst John Blackledge began coverage of SpaceX with a Buy rating and a $200 price target. TD Cowen says investors should buy SpaceX stock because growth in AI and space will lift shares over time.
Blackledge predicts SpaceX’s leasing of ground-based AI computing power will outgrow every other business line. By the first quarter of 2027, he expects it to bring in more than half of total revenue. He also forecasts capacity rising from 2.1 gigawatts this year to 6 gigawatts by the end of 2027.
Starlink ended the second quarter with 12 million subscribers, up from 10.3 million in the first quarter and about double the year-earlier level. Average monthly revenue per user held steady at $66. Starlink accounts for roughly 60% of SpaceX’s revenue and is the company’s only profitable business.
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SpaceX Shares Hold SteadySPCX Price Action: At the time of publication, SpaceX shares are trading 0.71% higher at $172.30, according to data from Benzinga Pro.
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Despite being frequently criticized for its stretched valuation, one major banking giant estimates that SpaceX (NASDAQ: SPCX) stock is not only ‘cheap' but is also getting ‘cheaper'.
OpenAI’s ChatGPT has projected that SpaceX (NASDAQ: SPCX) stock could end Q4 2026 at approximately $210, near its post-IPO record high of $225.
Such a target implies a potential upside of 23% from its October 5 closing price of $171.
SpaceX one-week stock price chart. Source: Finbold Based on current market conditions, ChatGPT expects SpaceX stock to trade between $190 and $220 by December 31, 2026, with a weighted target of about $210.
On Monday, SpaceX extended its rally after Elon Musk confirmed discussions with Taiwan Semiconductor Manufacturing Company (TSMC) regarding Terafab, a semiconductor venture intended to supply advanced chips to Tesla, SpaceX, and xAI.
The model views this as the most likely scenario as investors assign higher valuations to SpaceX’s artificial intelligence, Starlink, and launch businesses.
According to ChatGPT, the TSMC development has emerged as one of the most important recent catalysts for SpaceX stock.
In a bullish scenario, SpaceX stock could climb to between $250 and $300 if the company announces a formal TSMC partnership, delivers strong quarterly earnings, shows further Starship progress, and secures additional AI-related contracts.
On the downside, ChatGPT estimates SPCX stock could retreat to between $135 and $155 if TSMC discussions fail to result in a meaningful agreement, Starship faces further setbacks, or investors become increasingly concerned about valuation and capital spending.
SpaceX stock fundamentals At the same time, SpaceX’s latest results continue to support its growth story. For instance, in the second quarter, revenue rose 91.9% year-over-year to $7.81 billion, while adjusted EBITDA increased to $3.54 billion and net losses narrowed significantly.
Starlink subscribers also doubled to 12 million, with enterprise and government revenue exceeding $1.8 billion, alongside more than $6 billion in Starshield contracts.
Meanwhile, SpaceX’s AI segment generated $2.56 billion in revenue, up 247% from a year earlier, reinforcing the view that investors increasingly see the company as both a space and AI infrastructure player.
Despite the bullish outlook, ChatGPT highlighted several risks that could pressure SpaceX stock before year-end.
The company continues investing heavily in AI infrastructure, with quarterly capital expenditures exceeding $18 billion, leaving investors focused on whether future revenue growth can justify that spending.
Starship also remains a key variable, as recent test flights have shown progress but also encountered technical issues, including engine-related problems.
In addition, SpaceX’s core launch business remains unprofitable despite revenue growth, while some investors continue to question whether the company’s roughly $2 trillion valuation adequately reflects operational risks.
Inasmuch as Space Exploration Technologies Corp. (NASDAQ: SPCX) stock rebounded by more than 17% over the past five days, trading at approximately $173.30 during the pre-market session for October 6, 2026, Eric Sheridan, a Wall Street analyst at Goldman Sachs Group Inc. (NYSE: GS), expects a rally towards a new all-time high (ATH) by October 6, 2027.
Sheridan raised the bank’s 12-month price target for SpaceX stock to $230 from $220, representing a 4.55% change. However, he maintained his SPCX rating of ‘Buy’.
As such, this analyst signals a possible 32.72% upside for SPCX over the next 12 months.
This upward adjustment for SpaceX stock stems directly from the company’s higher performance expectations in the Artificial Intelligence (AI) segment, with capacity, revenue, and margin forecasts systematically increased for financial years 2026 through 2028.
“The analyst highlights high-level execution, stronger AI forecasts, and expanding long-term Space opportunities,” Goldman Sachs noted.
SpaceX stock price prediction In addition to Goldman Sachs, Adam Jonas, a Wall Street analyst at Morgan Stanley (NYSE: MS), has reiterated a ‘Buy’ rating for SpaceX stock over the next 12 months, as Finbold reported.
As a result, 33 analysts surveyed by TipRanks over the past three months have set an average price target for SpaceX stock at $235.10, which also signals a possible rally towards a new ATH by the fourth quarter of 2027.
SpaceX stock price predictions. Source: TipRanks Here is SPCX price performance Since its IPO (initial public offering), SPCX price has rallied over 26%. At the time of reporting, this company had a market capitalization of roughly $2.3 trillion.
SPCX price performance. Source: Finbold The recent SPCX price surge is supported by the company’s strong fundamentals, including Starship growth and rising demand for its AI-related products, as Finbold explained.
Consequently, Wall Street analysts are more confident that the recent SPCX price rally is not a dead-cat bounce.
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SpaceX (SPCX +7.63%) reached a major milestone in its rocket-launching business recently, when the massive Starship reached orbit for the first time and deployed 26 Starlink satellites.
To be sure, it didn't go perfectly. An engine shut down during the ascent, and splashdown occurred three hours into a mission scheduled for 10. Even so, it's quite a milestone.
Image source: Getty Images.
SpaceX stock hasn't reacted much to the news, and still trades for about 30% below its post-IPO peak. But if you invest $1,000 into the space, internet, and AI conglomerate today, what could it be worth by 2030?
Starship is the futureSpaceX has several future catalysts, but the one that is most important to the rocket launch side of the business is Starship. It is a massive, fully reusable rocket that, if successful, would dramatically lower the cost of putting objects into space. Cheaper launches mean more Starlink satellites in orbit, better economics for SpaceX launch customers, and a clearer path toward a successful Artemis III moon landing, which is planned for next summer.
How is SpaceX doing?Just to quickly recap SpaceX's most recent (second quarter) earnings report, the company's revenue grew 92% year-over-year to $7.8 billion. Starlink was responsible for about $4.3 billion of that and was the most profitable part of the business, with $1.66 billion in operating profit.
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The company has a solid balance sheet as well, ending the quarter with about $100 billion in cash, most of which was raised in its IPO, and this should fund the company's growth ambitions for years.
However, while Starlink is highly profitable, the other two main parts of SpaceX are growing rapidly but are losing money. The main culprit is the AI segment, which more than tripled revenue but posted a $1.26 billion operating loss while accounting for more than 85% of the company's total capital spending.
Let's be clear. SpaceX is not a cheaply valued stock today. At the current price of about $160 per share as of this writing, SpaceX trades for about 70 times revenue. That's a hefty price tag for an unprofitable company, even one that is growing this fast.
Here are three scenarios, each of which I consider to be quite possible:
First, my bear case is that SpaceX's revenue grows at an average rate of about 35% per year through 2030. This is conservative. It would be significantly lower than the recent growth pace and assumes factors such as an eventual slowdown in Starlink's growth rate and the AI infrastructure build-out.
Let's also say that SpaceX commands a more reasonable 12 times sales. In this case, a $1,000 investment would be worth about $570 in 2030.
Next, if the company can grow its revenue at a 55% annualized rate, which would be closer to what I'd consider a "base case," and SpaceX trades for 15 times sales in 2030, a $1,000 investment would be worth about $1,240.
Finally, my bull case would be 75% annualized top-line growth and a valuation of 20 times sales in 2030, which would turn a $1,000 investment into about $2,700.
Again, I consider all three to be realistic possibilities. And keep in mind that the market doesn't exactly have a track record of applying rational valuation metrics to SpaceX – it's entirely possible the stock could still trade at 70 times sales in 2030. I view it as unlikely, but it's possible.
What could go wrong (and right)?For the bull case to be correct, Starship would need to prove that it can reliably fly and fulfill the company's expectations. The AI segment would need to maintain its momentum and demonstrate to investors a clear path to profitability. Starlink would also need to continue growing rapidly without sacrificing too much of its margin. None of these three things is guaranteed to go as well as management hopes.
There's also quite a bit of valuation risk. At 70 times sales, there's clearly a lot of future growth and profit priced into the stock. Investors seem completely fine paying a premium multiple for now, but if growth even slows modestly, that may not be the case in the years to come.
The bottom line is that Starship's milestone makes the ambitious long-term vision of the rocket launch business more credible. But investors are already paying a lot for the company's future success. SpaceX could still end up being an excellent investment from here if nearly everything goes well, but that's not the only scenario that could play out.
SpaceX is the star of the stock market again as the Nasdaq 100 Index makes all-time highs.
With Monday's 8% rally to $171, shares of the rocket maker have jumped nearly 50% off its lows, reclaimed its IPO price and made CEO Elon Musk a trillionaire again. The run doesn't stop there. Morgan Stanley analyst Adam Jonas reiterated a $300 price target for the company Monday, and last Thursday, SpaceX's Falcon 9 rocket delivered four astronauts to the International Space Station in under eight hours — a record.
With the stock building momentum, options volume was twice the 30-day average Monday as 1.7 million contracts worth a total $900 million exchanged hands, 1 million of them calls worth more than $640 million.
The sentiment recalls the fervor with which SpaceX debuted in June, but there's one key difference this time around: after seven weeks of trading within a 10% price range, SpaceX implied volatility is significantly lower. That means that unless it keeps up the velocity of its moves the past two days, traders should expect a longer haul if they're looking for new highs.
SpaceX
It took SpaceX less than three full sessions to go from $171 to its intraday high of over $225 after its June debut. At the time, implied volatility was over 110. Today it's at 55, up from an all-time low below 50 on Thursday.
As a result, market-makers are assigning less than a 50% chance SpaceX touches $225 at any point between now and July, according to options pricing at the close of Monday's session. Looking at closer-dated expiries, there's a 54% chance the stock will touch $185 by the end of this month.
Also of note is that market-makers are assigning equal or higher implied volatilities to puts as they are calls, Barchart data shows, suggesting downside swings are as great a possibility as an upside surge. It's common for puts to trade with richer options premium than calls in indexes like the S&P 500, but for stocks, skew can go either way. In Nvidia, by comparison, calls are more expensive in many expiries, meaning investors are more concerned with missing rallies than avoiding crashes.
Still, options flows in SpaceX Monday were decidedly optimistic. Traders likely bought 456,000 calls, compared to under 240,00 puts, according to Cboe LiveVol. They likely sold 250,000 puts and 295,000 calls, the data show.
"Starship has helped out but it seems like Wall Street is piling in starting Q4," said Charles Moon, a technical and momentum trader at Prosper Trading Academy in Chicago. "SpaceX and Tesla are feeding off each other. They're moving more in sync lately."
The 30-day correlation between SpaceX and Tesla is currently 0.66, according to ThinkOrSwim data.
"Adjusted for growth, SpaceX is one of the cheaper ways to play the strong optionality of the Space and Intelligence Economy," Morgan Stanley's Jonas wrote in a note to clients Sunday.
Vesmírný byznys se znovu dostává do hledáčku investorů. Akcie SpaceX se po slabším období vracejí k emisní ceně a analytici z Wall Street v nich znovu vidí jednu z nejzajímavějších sázek na růst kosmické ekonomiky i obranných technologií.
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Elon Musk is once again a trillionaire, a title he first held briefly in June after the SpaceX IPO. Finn Gomez/Getty Images Elon Musk has regained his title as the world's only trillionaire.
The Tesla CEO made history earlier this year by becoming the first person worth 13 figures after SpaceX's blockbuster initial public offering in June. Musk's wealth came back down a little closer to Earth after SpaceX's stock price fell following an initial surge.
The rocket and AI company's stock price has been creeping back up since early August, reaching $171.09 as of Monday's market close. The nearly 8% boost on Monday brought Musk's net worth back over the trillion-dollar threshold, according to Forbes, which estimated his wealth at $1.046 trillion.
Musk's wealth previously peaked on June 16 at $1.32 trillion, according to the Bloomberg Billionaires Index.
While Musk had long been counted among the richest people in the world, the SpaceX IPO put him in another stratosphere. The second- and third-wealthiest people in the world as of Monday were Amazon founder Jeff Bezos and Google cofounder Larry Page, worth $371 billion and $284 billion, respectively, according to Forbes.
Much of Musk's net worth comes from stakes in SpaceX and Tesla, so it is typically tied to the success of those companies. SpaceX's stock reached its highest level since June on Monday.
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Kelsey Vlamis You're currently following this author! Click to unsubscribe from email alerts.
Kelsey Vlamis is a senior reporter for Business Insider, where she covers business and tech news. She also writes business stories about travel, luxury, and culture. Previously, she covered the environment, outdoors, and indigenous issues.Her feature story "Disaster at 18,200 feet" received awards from the New York Press Club and the North American Travel Journalists Association, as well as honorable mention from the Society of American Travel Writers. She has also received an American Journalism Online Award for her coverage on missing and murdered Indigenous people in Wyoming.She's appeared on CBS, NPR, NBC, and other outlets to discuss her reporting. She previously worked on the world news desk at the BBC in London and received a master's in journalism from Northwestern University.She can be reached by email at [email protected] or via the encrypted-messaging app Signal at kelseyv.21.
SpaceX shares rose almost 8% on Monday, reaching their highest since mid-June, shortly after Elon Musk's company held its record initial public offering. With the rally, Musk is once again a trillionaire.
The jump followed a Sunday note from Morgan Stanley analysts, who called SpaceX "cheap" at today's prices, and highlighted "future AI product releases, Starship progress, and additional neocloud contracts." They recommend buying the stock and have a $300 price target, representing an increase of about 75% from Monday's $171.09 close.
Late last week SpaceX conducted multiple historic flights in a single day, including sending a crewed mission for NASA to the International Space Station, and a separate launch of Google AI chips into orbit.
The Morgan Stanley analysts suggested investors buy SpaceX shares before the company's next planned test flight for its massive Starship rocket, and ahead of its third-quarter earnings report expected in late October.
Starship is SpaceX's next-generation spacecraft, the largest rocket ever built, and is designed to be fully reusable with both its upper stage and booster able to land safely back on Earth. The system is expected to supercharge SpaceX's business, bringing the company's Starlink satellites into orbit, as well as cargo and crews from other companies and agencies.
Should SpaceX attempt a Starship upper stage ship catch in its next test flight, that could be "the biggest positive catalyst since the IPO," the analysts wrote. In prior test flights, the Starship upper stage has made splash downs in the ocean, but hasn't been proven reusable.
SpaceX is also getting a boost from its artificial intelligence business, which it gained through the acquisition of Musk's xAI last year and expanded through the recent acquisition of Cursor. While the company's homegrown Grok model hasn't taken off compared to leading models from OpenAI and Anthropic, SpaceX is generating hefty revenue by renting out capacity to the likes of Google and Anthropic.
Musk has the benefit of close ties to the Trump administration.
On Wednesday, the Pentagon appointed Musk as co-lead of Project Meridian, an initiative that involves identifying weapons, technologies and military capabilities the U.S. may need in future wars. SpaceX makes a large chunk of its revenue from the U.S. government and increasingly from defense contracts, earning over $12.7 billion to date from its work with the Defense Department, according to FedScout.
Musk said over the weekend he will be renaming SpaceX's AI division, known as SpaceXAI, as SpaceXSI, embracing President Donald Trump's new branding.
As his company's stock soared on Monday, Musk was notably absent from a New York City Council hearing, where city officials grilled AI leaders and researchers about how the technology should be regulated. Representatives from OpenAI, Anthropic, Google and Meta were in attendance to testify.
Councilmember Shekar Krishnan noted, "AI has taken over our economy, inflated valuations, stealing our public land for data centers, and increasing the net worth of AI CEOs like Elon Musk, who became our first ever trillionaire."
According to Forbes' real-time billionaires list, Musk is currently worth $1.03 trillion, factoring in his holdings in Tesla and SpaceX.
SpaceX went public on June 12, and jumped to a record close of $201.80 on June 16. The shares started trending lower soon thereafter, bottoming in early August. They've since climbed about 58%.
SpaceX didn't immediately respond to a request for comment.
A SpaceX craft rises from its launchpad at Boca Chica Beach, in Texas, last month.
Brandon Bell / Getty Images
KEY TAKEAWAYS
SpaceX shares rose Monday after Morgan Stanley said the stock was “cheap and getting cheaper” relative to its growth prospects.Morgan Stanley maintained an overweight rating and $300 price target as shares traded above $167.
Morgan Stanley sees SpaceX stock as “cheap and getting cheaper.” The opposite is happening today.
Shares of SpaceX—officially Space Exploration Technologies (SPCX) —are jumping 5.5% Monday, a day after Morgan Stanley analysts wrote that “adjusted for growth,” the Elon Musk-led company “is one of the cheaper ways to play the strong optionality of the Space and Intelligence Economy.” At intraday highs today, the stock rose to levels not seen since July.
The analysts added that “investors still have a few weeks to ‘catch’ the opportunity before Flight 15,” a reference to the 15th Starship launch, expected later this month.
The analysts affirmed their “overweight” rating and $300 price target on the stock, which is trading above $167 with today’s gains. Visible Alpha’s mean price target is $281.
Shares opened at $150 in their June debut but traded around $105 before a recent surge. They finished last week around $159 after rising about 7% over the past five trading sessions.
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