SpaceX Stock Surges Nearly 8% as Elon Musk Returns to Trillionaire Status
· Technology · CNBC, Fortune
SpaceX shares climbed nearly 8% on Monday to reach their highest level since mid-June, returning CEO Elon Musk to trillionaire status. The rally followed a Sunday note from Morgan Stanley analysts who recommended buying the stock with a $300 price target and praised the company's valuation as cheap. The surge comes on the heels of a successful crewed NASA mission to the International Space Station and a separate launch carrying Google AI chips into orbit late last week. Analysts highlighted upcoming catalysts, including the next test flight for the Starship rocket and the company's third-quarter earnings report in late October. SpaceX continues to expand its commercial and artificial intelligence ventures, generating revenue by renting out capacity to firms like Google and Anthropic.
Why it matters
A sharp rise in SpaceX valuation boosts Elon Musk's net worth and highlights investor confidence in private space exploration and commercial AI infrastructure.
Read the original report — CNBC
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